Data-driven insights are the key to successful strategies. To ensure that your plans work and that you run effective meetings, you need a deep understanding of your company’s performance, how it stacks against external factors and trends.
Data-driven review meetings should be part of every company’s strategy, especially for quarterly or annual performance checks. Here are five factors that significantly affect the outcome of discussions and how productive they turn out to be for the company.
Include the right people in your conferences
The decision-makers and the people on the ground must be in the same room to discuss strategies. The leadership should be informed of the critical drivers of productivity in the company so they can act based on the employees’ performance. Doing this makes allocating resources and reorganising teams more effective.
The people doing the actual work should also be in these data-driven strategy meetings. When they are around, management can ask questions that would clarify their decisions on the ground. Employees are in the best position to explain the trends of performance indicators. They can also explain why some results turn out the way they do and provide context to events related to various departments and units.
Make sure that the meeting is focused
Your purpose for this meeting is to discuss strategy. It’s not the time for updates or performance reviews; you are using data to assess the impact of your departments’ actions on the company.
Meetings like these are about improving practices, organisational transformation, and figuring out how to scale these up and across the company. Be always mindful that you are discussing data to evaluate performance instead of reviewing and setting targets.
Connect your plans to your tasks
Ensure a smooth flow of strategy by following up and creating a culture of accountability. Review the follow-up actions your team decided during previous meetings; devote five minutes of every strategy meeting to this exercise. When you do this, it prevents non-productive meetings, and it enables your employees to own their roles more fully.
Thena makes this easier by scheduling reviews of actions that are overdue, ensuring all bases are covered. Review and follow-up of action is a breeze when you have our Meetings software giving you a hand!
Be mindful of what the data says
Prevent speculations and unfounded strategy by focusing on data during these meetings. A company must have the capability to store and access data systems, and they must have a way to measure performance data adequately. It is challenging to create high-impact reviews when you cannot access the figures you need, or if there isn’t enough of it.
You must also review and interpret variations in performance trends. What is genuinely changing your company’s performance, and how can you foster the conditions for this factor? Before these strategy meetings, you must have the answers to these. Also, be on the lookout for areas of improvement as described by the data.
Leverage partnerships across the organisation
You must find strategic relationships, develop collaborative networks, and find ways to get various departments to achieve common goals. In a company, you can expect horizontal obstacles, ones that need multiple departments’ input. Solve these issues by using data to identify units that have adjacent skills, challenges, and objectives, and getting them to work together.
Conducting effective meetings means being clear about why you are coming together as a group. These conferences should not rely on business sense or intuition alone; during these, data must be a foundational aspect of decision-making. When you incorporate data, you create responsible workers, which leads to greater levels of productivity.
Keep meetings on track and foster a culture of accountability with Thena. Our Meetings software allows you to integrate business data, provide action plans, and share notes about a conference, all in one place. Request a demo and see how you can transform your workplace meeting culture today!