I booked my car in for an MOT last week and it got me thinking… Companies should also have an “MOT” every year. Some simple metrics, measured each year to ensure a minimum standard is achieved. This could also be used to demonstrate how well a Company is performing and to see whether they are still “road worthy” in terms of;
- Financial stability
- Development of their people
- Their systems and processes
- Quality of service / products provided etc.
Any company that failed it’s “MOT” would be given a period of time to fix the problem and would be re-tested within 3 – 6 months. A Company failing it’s “MOT” would be penalised with a small fine, which increases after every recurring failure. The fines could then be used to help encourage new start businesses to get established.
I think this would benefit the over all economy as well run businesses should have a better chance of surviving and growing.
It would also benefit employees who could assess the overall performance of their current or propspective employer.
Anyway, just a thought….