Build & Maintain a Performance Dashboard

Build & Maintain a Performance Dashboard

 to Hold the Action Framework Accountable for Results

BUILD REGIONAL UNITY

Lead Org:

  • The Hampton Roads Alliance

Goal

  • Make the work of the Action Framework 100 percent transparent.
  • Provide overall accountability of the Action Framework to help drive results.

Actions:

  • Establish key performance indicators (KPIs) for all programs under each of the five core strategies that support the Action Framework. Many of these KPIs are included in this document.

SMART goals (Specific, Measurable, Achievable, Relevant, and Time Based)

Headline Indicators:

  • Monthly employment growth (YoY) in select industries compared to regional 10-year average
  • Monthly average wage growth (YoY) in select industries compared to regional 10-year average

Source: BLS, updated monthly

Broad Based Economic Indicators:

  • 12-Month payroll employment growth compared to regional 10-year average
  • Average annual wage growth compared to regional 10-year average
  • Annual employment growth compared to peer MSAs (population of 1-4 million)
  • Annual wage growth compared to peer MSAs
  • Labor force growth compared to regional 10-year average
  • Unemployment Rate compared to 10-year average

Source: BLS, updated monthly

Lagging Indicators:

  • Growth in gross regional product compared to 10-year average
  • Annual growth in per-capita gross regional product compared to peer MSAs
  • Inflation-adjusted median household income compared to 10-year average
  • Growth in median household income compared to peer MSAs

Sources: BEA & Census, updated annually

  • Build and maintain a public-facing performance dashboard for the Action Framework.
  • Showcase the dashboard and results as part of the Action Framework’s ongoing communications and annual event.

Accountability:

  • The Alliance will have the dashboard 1.0 version up and running by the first quarter of 2021.