Performance ManagementQuestion by: Sarah
I am a Bid Manager in a global bank based in the UK. I would like to know how you impose measures for success for your Bid Writers. Win ratio is the obvious, but given we often find ourselves responding to RFPs we have slim chances of winning, and are regularly used to benchmark tariffs, this doesn’t seem fair as the only tangible measure. Do you have others you use?
Thanks in advance
You’re right, being measured on the win rate isn’t fair – although it shouldn’t be ignored either! Our primary team measure is our conversion rate, the number of RFPs that get through to the next round, with a secondary measure of the win rate.
If you think about it, we can only be measured on what we do. Unless we are attending every sales pitch and negotiation that follows an RFP we cannot be measured on the overall success of a bid. I expect a conversion rate of over 70% but to achieve this you have to be able to challenge the benchmarking exercises – should you provide an RFP response or just the price? If you must complete them maybe they get recorded in a separate category along with consultant annual questionnaires therefore not getting included in your conversion measure.
Of course, knowing what percentage of your converted RFPs go on to be winning bids is still a powerful measure, as you can investigate the reasons why the bid is unsuccessful.
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