{"id":7533,"date":"2019-08-13T23:21:48","date_gmt":"2019-08-13T23:21:48","guid":{"rendered":"http:\/\/somametrics.com\/clone\/?p=7533"},"modified":"2020-02-10T23:39:32","modified_gmt":"2020-02-10T23:39:32","slug":"the-right-measures-of-accountability-matter","status":"publish","type":"post","link":"http:\/\/somametrics.com\/clone\/the-right-measures-of-accountability-matter\/","title":{"rendered":"The Right Measures of Accountability Matter"},"content":{"rendered":"\n

Traditionally, employees are taught that if they designed a tight system and measured everything that could be measured, they would have enough accountability. If everyone did everything they were supposed to do and did it well, they were assured of success.<\/p>\n\n\n\n

Well, now we know that doesn\u2019t\nwork. In fact, it\u2019s a prescription for failure! The thought leaders in high-performance\norganizations know that isn\u2019t going to take us where we want to go.<\/p>\n\n\n\n

Here\u2019s what works: figuring out what\u2019s really important and establishing accountability for such measures\u2014and only that. Don\u2019t try to micromanage your people\u2014if you do, you\u2019ll see that they always hit the metrics you lay out for them, but the organization misses what\u2019s really important. If you measure the wrong things, you get the wrong results.<\/p>\n\n\n\n

Let\u2019s look at the well-documented case of fake bank accounts at Wells Fargo.[1]<\/a> Management wanted to increase the number of depositors, so they set quotas for each branch to open new accounts. When genuine depositors did not appear, the branches simply opened fake accounts. This ensured that the staff and branch management hit their numbers, but at a very high cost.<\/p>\n\n\n\n

First, opening these accounts absorbed considerable clerical time. But it didn\u2019t end there. After a full year of investigations led by Arizona, Connecticut, Iowa and Pennsylvania, the Bank agreed to pay settlements of $575 million. Aside from this steep financial cost, the Bank also lost considerable credibility due to a lack of accountability, and suffered a setback to its reputation in the marketplace.<\/p>\n\n\n\n

This is an extreme case, but it makes\nthe point: tightly measuring the wrong metrics leads to the wrong results.<\/p>\n\n\n\n

Management needs to focus on the big picture metrics: revenues, profits, market share growth, share price, brand recognition, and the number of people who apply to work at that company. They need to create a vision that everyone can relate to\u2013everyone from the senior management team to the front lines. Then management needs to trust their people. That doesn\u2019t mean you let everyone do whatever they want\u2014it means you give them the latitude to do what\u2019s right for the company and the customer. If the vision is clear and the results are recognized, the results will be stellar and demonstrate accountability.<\/p>\n\n\n\n

Don\u2019t believe this? We can show you the research that proves that companies with strong, performance-enhancing cultures significantly outperform those without such a culture; they realize four times the average revenue growth, 12 times the stock price, and 756 times profit growth of those with counterproductive cultures.
<\/p>\n\n\n\n

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[1]<\/a> https:\/\/www.desmoinesregister.com\/story\/money\/business\/2018\/12\/28\/iowa-wells-fargo-settlement-attorneys-general\/2431320002\/<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Traditionally, employees are taught that if they designed a tight system and measured everything that could be measured, they would have enough accountability. If everyone did everything they were supposed to do and did it well, they were assured of success. Well, now we know that doesn\u2019t work. In fact, it\u2019s a prescription for failure! … Read more<\/a><\/p>\n","protected":false},"author":3,"featured_media":6493,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"generate_page_header":""},"categories":[89,35],"tags":[],"yoast_head":"\nThe Right Measures of Accountability Matter - SOMAmetrics<\/title>\n<meta name=\"description\" content=\"Management needs to focus on the big picture, accountability metrics: revenues, profits, market share growth, share price, and brand recognition.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/somametrics.com\/clone\/the-right-measures-of-accountability-matter\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Right Measures of Accountability Matter - SOMAmetrics\" \/>\n<meta property=\"og:description\" content=\"Management needs to focus on the big picture, accountability metrics: revenues, profits, market share growth, share price, and brand recognition.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/somametrics.com\/clone\/the-right-measures-of-accountability-matter\/\" \/>\n<meta property=\"og:site_name\" content=\"SOMAmetrics\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/SOMAmetrics\/\" \/>\n<meta property=\"article:published_time\" content=\"2019-08-13T23:21:48+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-02-10T23:39:32+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/somametrics.com\/clone\/wp-content\/uploads\/2019\/02\/pexels-photo-590011.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"2048\" \/>\n\t<meta property=\"og:image:height\" content=\"1356\" \/>\n<meta name=\"twitter:card\" content=\"summary\" \/>\n<meta name=\"twitter:creator\" content=\"@eskidt\" \/>\n<meta name=\"twitter:site\" content=\"@eskidt\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Alicia Assefa\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Organization\",\"@id\":\"http:\/\/somametrics.com\/clone\/#organization\",\"name\":\"SOMAMetrics\",\"url\":\"http:\/\/somametrics.com\/clone\/\",\"sameAs\":[\"https:\/\/www.facebook.com\/SOMAmetrics\/\",\"https:\/\/www.linkedin.com\/company\/somametrics?trk=ppro_cprof\",\"https:\/\/twitter.com\/eskidt\"],\"logo\":{\"@type\":\"ImageObject\",\"@id\":\"http:\/\/somametrics.com\/clone\/#logo\",\"inLanguage\":\"en\",\"url\":\"http:\/\/somametrics.com\/clone\/wp-content\/uploads\/2018\/04\/SOMAmetrics-Logo.png\",\"contentUrl\":\"http:\/\/somametrics.com\/clone\/wp-content\/uploads\/2018\/04\/SOMAmetrics-Logo.png\",\"width\":1605,\"height\":226,\"caption\":\"SOMAMetrics\"},\"image\":{\"@id\":\"http:\/\/somametrics.com\/clone\/#logo\"}},{\"@type\":\"WebSite\",\"@id\":\"http:\/\/somametrics.com\/clone\/#website\",\"url\":\"http:\/\/somametrics.com\/clone\/\",\"name\":\"SOMAmetrics\",\"description\":\"Drive Predictable Revenue Growth\",\"publisher\":{\"@id\":\"http:\/\/somametrics.com\/clone\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"http:\/\/somametrics.com\/clone\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en\"},{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/somametrics.com\/clone\/the-right-measures-of-accountability-matter\/#primaryimage\",\"inLanguage\":\"en\",\"url\":\"http:\/\/somametrics.com\/clone\/wp-content\/uploads\/2019\/02\/pexels-photo-590011.jpeg\",\"contentUrl\":\"http:\/\/somametrics.com\/clone\/wp-content\/uploads\/2019\/02\/pexels-photo-590011.jpeg\",\"width\":2048,\"height\":1356,\"caption\":\"ABM execution costs\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/somametrics.com\/clone\/the-right-measures-of-accountability-matter\/#webpage\",\"url\":\"https:\/\/somametrics.com\/clone\/the-right-measures-of-accountability-matter\/\",\"name\":\"The Right Measures of Accountability Matter - 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