Here is the last KPI you forget during your Board Meetings
*Remember* It’s all about the A team
“Team, team, team” is by far the number 1 criterion for a vast majority of VCs when investing in a startup and one of the top criteria for PE firms when investing. Because quality of the management team is so key & so related to success of your startup, you spend very much time (and money) on hiring top talents and you celebrate when you hire the ex-CFO of King, the ex-Head of Sales at AppDynamics or a (just) a good Developer… it’s all about building the A team.
So get your People Analytics ready!
During board meetings, most of the companies have the right customer KPIs in mind and the tools to measure these KPIs: acquisition, retention, usage, upselling KPIs…
When it comes to discussing People, we sometimes find in board materials an org chart with the positions to be filled and maybe sometimes a screenshot from Glassdoor (also used by VCs during due diligence) but quality of this data is too low to be usable (ridiculously small sample, fake reviews, no HR knowledge behind it, not real time reviews…).
Some startups are now giving you the tools the measure People Analytics (disclaimer: we have seeded the rising star Peakon in this space): you now have the data layer to measure with much granularity employee engagement, compare with your peers and act accordingly. Now that you have access to this data, use it to manage your company! Kudos to our portfolio company Secret Escapes which is already displaying People Analytics through Peakon in its reporting and board decks!
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