It is important to ensure that you know what is happening in your business on a weekly, fortnightly, monthly and yearly basis. To do that, it helps to have some great systems in place to ensure that the team are reporting on essential KPI’s.
In most businesses there is room for improvement with systems, processes and people, and being able to recognise the pressure points that may need a little help.
In measuring performance, setting achievable KPI’s can boost team morale. However, these also need to be high enough for the team to reach for and provide a challenge.
Some areas that you might like to consider when it comes to reporting from your team may include;
- Weekly reports provide a snapshot each week or activities such as leasing, arrears, routines, new business, training and areas that might be a concern or clients that may be a potential jack-in-the-box.
- Monthly reports are generally more detailed and would look at checking what revenue has been achieved for the month, as well as arrears, outstanding repairs and new business
- A KPI board or TV in your office can provide a visual aid and encourage the team each month. It can also provide some healthy competition as they can physically view the numbers going up or down.
Don’t forget about rewards for great performance and incentives that provide something for your team to aim for.