Whenever possible at SMCo, we like to measure how we’re doing. Like other businesses, we have a collection of ways to measure our financial progress – profit and loss, annual budget projections and actuals, cost tracking of each of our projects, value of our several funds (pension, equity, and reserves) and more.
We consistently track (measure) our work backlog to help us plan for our near-term future.
We also measure social factors: employee education costs, compensation ratio top to bottom, length of employee tenure, average employee age, charitable contributions, and community service.
We try to predict our longer-term future, too – by doing strategic planning, creating five year plans, projecting organizational charts, and making succession plans.