Improve fleet performance with balanced driver scorecards

Improve fleet performance with balanced driver scorecards

Now that we’re well into 2021, have you thought about what you could do to improve your fleet’s performance this year? For instance, could you reduce the repairs and maintenance of your fleet? Avoid tickets, fines, and penalties? Better still, eliminate the chances of your vehicles being involved in a road accident? Finally, could you improve customer satisfaction? Well, you can tick all of the boxes above by integrating balanced driver scorecards within your strategic management plan. 

Get on track with a balanced driver scorecards strategy

Driver scorecards are an important monitoring and assessment tool, usually incorporated into a holistic vehicle management system. For one, driver scorecards help a fleet manager evaluate the crew’s driving behavior. By analyzing the data, she/he can find solutions to eradicate the detected undesirable driving patterns; thus, build up the fleet’s operations, reduce unnecessary costs, and keep customers happy. 

On top of that, what are these balanced driver scorecards? In brief, they are a key component of the performance management strategy to increase fleet efficiency; and, in the long run, the growth and profitability of the fleet company. In fact, the very phrase ‘balanced driver scorecards’ implies that driving behavior is measurable and, therefore manageable; that is, according to the goals and vision of the company. 

Setting up metrics to evaluate fleet operation and performance

Telematics and vehicle management software have dramatically enhanced the way fleets work. One of their most effective applications lies in the evaluation of the fleet’s operation and performance, through balanced driver scorecards. How are they effective? To illustrate, the balanced driver scorecards provide a framework for setting customized metrics, concerning the activities of your fleet drivers.

With these metrics up and running, you’ll have a holistic view of your fleet company, both on the operational and performance levels. However, to keep your driver scorecards balanced, you should align them with other vital business perspectives, as well. To be specific, these may include the financial plan, customer-centric practices, internal processes, and employee training initiatives

The effectiveness of the balanced driver scorecards depends on the way you implement them, and how you act upon them. Hence it’s important to make them as clear, measurable, accomplishable, and goal-oriented as possible.

Another important thing to consider is communicating the implementation of scorecards, along with your goals, to your fleet drivers. Since they’re the ones who are on the front line, they should be thoroughly briefed and informed about any modifications. What’s more, involving your drivers will help them stay focused on the results; and feel motivated to improve their driving behavior. 

Keep your eyes on the KPIs 

To achieve balanced driver scorecards, you should target KPIs that relate to the daily operation of your fleet vehicles. With this in mind, what could you monitor with driver scorecards? Well, here are some basic KPIs to consider:

Balanced driver scorecards for business growth

The data gathered via your vehicle management platform provides you with all the insights you’ll need to make improvements. It all starts with you overseeing driving behaviors, and, over time, recognizing dangerous patterns. Afterward, you can use these insights as directives for action; either through driver training programs or a reward plan that will encourage positive driving behavior — or, why not, both.

But how will you know your balanced driver scorecards strategy works? Evidently, when your drivers’ behavior improves, and you see your fleet’s operational costs going down. Nonetheless, this is not the time to rest on your laurels; as driving behaviors improve, use the new data to re-adjust your KPIs for further business growth.

It’s all in the balance

As mentioned, with balanced driver scorecards in place, you can monitor and re-evaluate your KPIs on an ongoing basis. Truth be told, in the age of digital revolution and the IoT, everything’s changing fast; so there are always improvements to be made. Consequently, adaptability and agility are more important than ever.

It’s all in the balance, after all. By continuously analyzing and measuring the data, you can update your business goals and quickly readjust to the new reality. This way, not only will you eliminate the possibility of complacency, but also gain a competitive advantage.

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