How to Use Key Performance Indicators for Personal Life Success
The core concepts of the “Balanced Scorecard” by Kaplan and Norton, have been widely adopted across commerce, industry and government, as an effective process for measuring and improving the sustainable performance of the organization.
Central to the Balanced Scorecard concept are the Key Performance Indicators (KPI) relevant to the particular organization. These are the primary areas which must be measured and improved, if the organisation is to achieve sustainable success. For instance “operating costs”, “employee morale”, “customer satisfaction” and “sales revenue” would be some KPI for a sales-oriented organization.
As a behavioural and performance coach for directors and CEOs, I encourage my clients to choose personal KPI for sustainable success in the whole of ones life.
We humans are always better able to improve that which we can measure.
But watch out – many people become skilled in too few KPI, such as only vocational skills and financial literacy, leaving themselves prone to poor health, poor relationships, and eventually unable to sustain those skills that they do have.
Wholesome personal success can be achieved by consistent correct practice of a range of KPI.
We require diversity in our lives to ensure we thrive, improve, contribute to, and enjoy life. Here is a suggested list of personal KPI: –
• Attitudinal Competence – the ability to remain fully aware; improve beliefs and identify values; effective emotion and feeling generation; and choose value-based intentions and purpose. Time management, procrastination, motivation and “unresolved issues” are covered here.
• Physical Competence – effective physicality and maintenance of excellent health and appropriate fitness.
• Relationship Competence – ability to choose, maintain and develop functional and enjoyable relationships, and express unconditional love to at least one other person.
• Vocational Competence – professionally developed and improving, using functional KPI.
• Material & Financial Competence – ability to understand, obtain and enjoy the material aspects of the whole of life, above basic survival needs.
• Recreational Competence – the ability to recover, refresh, renew and enjoy ones whole self.
• Environmental Competence – consistent actions to improve ones immediate environment.
Having decided upon your KPI, now you need to decide how to measure them.
Whilst this is a personal choice or preference, you could include the following principles: –
Establish target components for each KPI
Examples – these are only a few of the many possibilities:
o KPI for Personal Finances: amount of savings per month; percentage of cost reductions per month; percentage of debt cleared per month.
o KPI for Family Relationships: number of family outings per month; number of unpleasant incidents per month (similar to workplace safety targets); number of delightful/happy events per month:
o KPI for Physical Fitness: fitness routines completed per week
o KPI for Attitudinal Competence: improvements to beliefs per day (Ive suggested increased frequency of measurement for beliefs to assist in improving our awareness of this major cause of personal limitation.); number of personal “upsets” per week; number of negative events where “triggers” did not occur (i.e. you responded positively)
Choose both quantitative and qualitative targets i.e. measurements that can be seen or counted and measurements that are felt or expressed.
Create a recording method and graphic appearance .eg. set up an Excell; keep a journal of your KPI improvements.
Create the habit of reflecting on a daily basis, say for 10 minutes before retiring for the evening, to consider and record todays KPI.
Create a celebration or reward system for your achievements.
What could your KPI be, to achieve success in the whole of your life?
How would you go about using this process to your benefit?