Our primary tool for ensuring healthy development.
Summary
Our Vital Signs are a set of six business behaviours that we measure quarterly to help us gauge how we're tracking on the things we know are important to our development as a company.
They provide an objective way to discuss and prioritise things that need work and they show us where we're doing well against our original plans.
The Signs
The key factors we measure:
Client Experience and Relationships
How healthy are our client relationships and how good do they feel dealing with us?
Productive and Efficient Delivery
How well do we convert a client's wish, idea or request into something that performs and delights?
Respect and Reputation
How are we perceived by those who come into contact with our brand, clients or publications?
Profitability
Is the profitability of the business adequate, consistent and visible to all of us?
Sustained Savings
How well are we building our nest egg to cover risk and invest in our own ideas?
Work Experience
How good is the day-to-day experience of working at Picket?
Getting Involved
The Vital Signs are reviewed quarterly and we all contribute by scoring each one. The averages show how the business is performing overall and the lowest-scoring indicator becomes the focus until the next review.
Scoring
Scoring is done via the tracking form using the scoring guide below. The form will usually be sent to you in advance giving you a few days to mull it over. Each team member provides a single number score (between one and five) and a brief explanation for their choice.
Tracking
Scores for each Sign are collated, tracked and graphed over time using the tracking form (admin view). They're then averaged, discussed and used to set the priority for the next quarter's activities at the Quarterly Strat Chat and plans are put in place to address priority issues.
Visibility and Inputs
An important benefit of having everyone in the team involved in measuring our Signs is that it helps us identify whether we're doing a good job of communicating about them. If we happen to be profitable, but nobody knows we're profitable, we would want to know that our communication about finances is poor.
If you don't feel you have enough information to give a score give a low one. The fact that you don't know the answer means we've done a bad job of getting you the information you should have!
Outputs and Actions
Importantly, the Vital Signs are not just an FYI, they're our primary framework for prioritisation outside of day-to-day project work.
Once scoring is complete the aggregated scores and comments are reviewed by partners and short, targeted projects are spun-up to address the areas that have the lowest scores.
An example would be engaging a designer to commence an update to the visual identity due to a low score in Respect and Reputation.
Importantly, projects undertaken should be realistic, clearly defined and achievable within the quarterly time window with the resources available. Using a project planning framework such as OKRs or SMART Goals are crucial to prevent initiatives from getting side-tracked and bogged down on their way to the too-hard basket.
Scoring Guide
The examples below help illustrate the range from low to high for each Vital Sign. They ensure that the reasonable range is aligned with other team members and the original goals, so it can be handy to have a read of these as you work through the questions.
For example, a scenario below is given for the score of "1" for Work Experience which describes what kind of scenario would reasonably result in us getting a "1".
Scenario
Score
We have a trusted, familial relationship with most clients and we feel part of each others' teams. Communication open, honest, regular and upbeat. We're kept in the loop and often included in conversations and events beyond our immediate remit. Chasing payments, approvals or answers is rarely an issue. We tend to drive priorities and decide what we're going to work on.
5
Our clients and us both trust each others' intentions and have a professional relationship. Most work gets done on time and within budget, and there aren't usually points of conflict (sometimes there are). We do sometimes lose clients or don't get responses when sending estimates. Clients set the priorities and determine what gets worked on.
3
We are often in an "emergency" state with clients who are upset about unexpected issues, undelivered outcomes or unforeseen costs. We tend to firefight a lot and our priorities are driven by which client puts the most pressure on us. Work is very project driven and we don't hear much from clients outside of completing the immediate task at hand.
1
Scenario
Score
Our project delivery process is highly mechanised, standardised and reliable. We can get projects and teams up and running quickly and by far the majority of our time is spent producing actual output rather than getting set-up. We're low on bugs and errors, and when they happen we know about them before the client does. Questions about how and when things should be done are rare, but discussion is common.
5
We have the basics in place and are using all the right tools, but it's often down to individuals to patch things together to get a process in place. Process seems to differ quite a bit from project-to-project and there's quite a bit of time dedicated to finding things or answers per hour of output. Priorities seem to shift week to week.
3
Projects feel chaotic and there's a lot of focus on keeping the client from being upset rather than calmly producing valuable output. There are often bottlenecks, delays and errors, and it's rare that something goes live on schedule and without problems. Anxiety is high and control is low. It's not clear who is doing what.
1
Scenario
Score
You feel proud to be associated with Picket and are pleasantly surprised to hear that people you meet within the industry are already aware of us or something we've done. We have a great looking visual identity and are regularly producing and publishing thoughtful content, punching well above our weight.
5
The company has an OK visual identity and a mediocre, mainstream website. The content is acceptable and representative but drab. We're never quite getting around to producing any content or leadership and we're not well known beyond immediate personal connections.
3
Describing where you work is a little awkward and you find yourself compensating. The website and social profiles are poor and don't represent what you think the company could or should be. People you meet in the industry have rarely heard of us.
1
Scenario
Score
Everyone has a good understanding of whether a given relationship or project is profitable, and both clients and projects are consistently profitable over the long term. Team members understand what resources they have available to deliver work and don't find themselves running over that before the client is happy.
5
Overall, over time, we seem come out on top but it's a win-some-lose-some situation with profitability. We're not exactly sure how or why we make money, or precisely what factors lead to a project or client being profitable or not. We seem to manage somehow.
3
We don't feel that there's a strong connection between the work we're doing day-to-day and its impact on the bank balance. There's a lot of anxiety about money and where the next project is coming from and profitability isn't seen as any particular persons primary responsibility.
1
Scenario
Score
Our bank balance is growing steadily and predictably and we are clear on our various financial targets and whether we're meeting them over time. We know what amount we can allocate to investing in products, branding, studio space, etc. and what's allocated as a safety margin and for known obligations such as contractors and tax.
5
Sometimes it feels like we're cashed up, and other times it feels like we're running low, but so far we've always been able to meet our obligations. We feel like we should be making more money and we're not sure when that will happen, but we're optimistic. We're not really sure exactly
3
We don't seem to have any real control over our finances. There are no rules or processes around purchasing, and the bank balance has a mind of its own. Sometimes, when we need to buy something or pay someone we find we can't and have to wait until we can afford it.
1
Scenario
Score
Coming to work doesn't feel like a chore, it's something we all actually look forward to (OK, everyone has their days). We feel aligned in our personal and professional work goals and we know that together we can do more than we can do apart. The studio feels happy, healthy and productive and we genuinely enjoy each others company. Picket is a home away from home. Money is good but not a huge factor.
5
Picket is a decent place to work for a while. The team is nice and the office is reasonable. It's not somewhere you'd want to stay forever, particularly if you want to develop your career or challenge yourself.
3
Working at Picket is not a good experience overall. It's stressful and chaotic and it doesn't feel worth the money. There is often conflict and the directors seem adversarial towards each other and other team members. Lunch time is an opportunity to get away for a minute. People start late, finish late and don't seem to care much about their jobs.
