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7 Skills You Need On Your Balanced Scorecard Dream Team

So you want to build a solid team to execute on your strategy via the Balanced Scorecard… awesome. We commend you. And we’ll take that one step further—we’d love to help. Nine out of 10

Ted, Founder and Managing Partner at ClearPoint, has over 25 years of experience working with organizations to improve their performance management and strategy execution processes.

So you want to build a solid team to execute on your strategy via the Balanced Scorecard… awesome. We commend you. And we’ll take that one step further—we’d love to help.

Nine out of 10 organizations fail to execute strategy. Avoid failure with this toolkit.

Regardless of whether you’re building your team from inside your organization or hiring for the position, or whether you’re looking for a single person or a number of people, this list will help you check off the right boxes.

7 Skills You Need On Your Balanced Scorecard Dream Team

1. The ability to understand how the organization works as a whole.

When considering team members to join your Balanced Scorecard dream team, you should ensure that each member understands strategy and strategic execution. Do they understand how the finances in the organization work, what the major expenses are, how pricing works, or the typical budgeting cycle? If you bring someone on your scorecard team who only understands sales but has no idea how the rest of the organization functions, they’re going to be slightly handicapped. So while you shouldn’t expect every team member to be an expert on every department, it is important that they have a well-rounded grasp on the strategy of the organization so they can interact with the leadership and the rest of the team in a meaningful and credible way.

2. Solid communication and listening skills.

Every member of your Balanced Scorecard dream team will be regularly interacting with people from different departments. So it follows that these individuals need to be well-connected across departments and communicate well with those who work outside of their wheelhouse. If those involved on your team are viewed positively by others—and work to be helpful, not simply to check boxes or enforce rules—this will help align the rest of the organization around your strategy.

3. Exceptional organizational skills.

You need to be sure that the team members you assemble for your Balanced Scorecard team can organize well enough to hold every individual necessary accountable for the following:

  • Gathering measure and initiative data.
  • Analyzing reports on performance.
  • Creating comprehensive review decks.
  • Identifying pertinent agenda information.
  • Managing pre-briefings.
  • Sending out read-ahead materials before meetings.

Note: If you’ve been using the Balanced Scorecard for several years and the core of your team understands everything that needs to be done for strategy review meetings, this process can be done in less than a week.

4. The ability to facilitate meetings.

It’s critical to have someone on your team who can actually run your monthly or quarterly strategy review meetings. These may happen at the leadership level as well as at division or department levels. Meetings can go off track for a variety of reasons, so a solid meeting facilitator can help avoid possible pitfalls and aid in driving meeting results.

5. Mathematical skills.

You can’t manage a scorecard without managing data, even with the most sophisticated of tools. Team members need to be able to create sums, averages, exception reporting, and charts of all shapes and sizes.

If your team members are at least intuitively decent with numbers, they’ll be able to easily spot errors and track them down. For example, if your net margin looks off, a mathematically inclined team member would be able to quickly determine if it was a revenue or expense problem—or dig down deeper and figure out if the issue has come from a particular department. Anyone in finance knows how critical reliable data is—so this skill set shouldn’t be brushed aside.

6. Technical skills.

Regardless of whether you’re using Excel or software to manage your Balanced Scorecard, having at least one team member who has solid technical skills can significantly decrease the workload of the rest of your team. You’ll want an individual who can easily move through a reporting application to update and link data, build reports, and do simple configuration.

Not sure where to start?

If you’re managing a scorecard program within your organization and looking to improve your skills and get the most out of it, this management reporting guide is a great place for you to start. It includes all the details of a comprehensive strategic planning process, tips to help you apply the information to your own reporting guide, and more.

7 Skills You Need On Your Balanced Scorecard Dream Team