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How Long Would It Take You To Earn £1,000 In Your Business?

I was reading today’s edition of The Sunday Times and the front page lead was “Fat cat row over public sector pay.”

While concern is expressed that the top 300 bosses in the public sector saw their pay jump 12.8% to an average of over £237,000, one man stands out.

That is Adam Crozier, the group chief executive of Royal Mail.

His total salary and benefits package leaped ahead by 21% to £1.25 million.

How Long Does It Take To Earn £1,000?

The Sunday Times has worked out that he can earn £1,000 in just one hour and 27 minutes of sitting at his desk.

I like this performance measure.

It strikes me that it’s a bit like the Tax Free Day, that the date in the year when we have earned the government’s average tax take and from then on, we are working for ourselves.

Household bills free day

Perhaps we should all know our own household bills free day – the date by when we have covered the household essentials -mortgage or rent, rates, the utilities, food etc and we then start to be able to afford all those nice little luxuries.

Unfortunately for many, there won’t be a household bills free day because they are deep in debt or they are unable to prioritise their spending and hold back on the luxuries until they can afford them.

There is an important message here.

The Value Of Looking At Performance In A New & Different Way

I like different ways of looking at performance. I like new ways of recording performance measurement that can make key issues clearer.

Numbers expressed in one way can seem dull, but turn them around and present them in a novel ways and suddenly their true impact can be revealed.

When Good Is Not Good Enough

Now I don’t know the true percentage but suppose it was reported that 92% of first class letters delivered by the Royal Mail, reached their correct destination within one day.

It sounds impressive doesn’t it.

Most of us haven’t experienced many 92% marks in school exams.

But turn it around.

It means 8% of first class letters failed to provide the promised delivery service.

The issue comes into focus, and any complacency can be shaken out.

Your Performance Measures

Are you expressing your key measures in the right way or could you benefit by looking at them in a new way?

Remember the old saying “There are lies, damned lies and statistics.”

Performance measurement is one of my favourite topics for improving a business. It is the first area that I cover in my Eight Pillars of Business Prosperity business coaching.

Performance measurement tells you where you are. It tells you whether you are getting better or worse.

It is the starting point for asking why and what.

  • Why is performance this good or bad?
  • What can we do to improve performance.

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