Key Performance Indicators
Key Performance Indicators (KPI’s) represent the "speedometer" of your business.
What are KPI's and how do they help my business?
- Key Performance Indicators (KPI’s) also known as Key Success Indicators (KSI), help an organization define and measure progress toward organizational goals.
- Key Performance Indicators are quantifiable measurements which reflect the critical success factors of an organization. They will differ depending on the organization. Selected Key Performance Indicators must reflect the organization's goals, they must be key to its success, and they must be quantifiable (measurable).
- KPI’s measure the results of what you want to achieve. KPI’s basically measure what it is that drives the success of your company or your unit within the company.
Developing KPI’s is a succinct process to identify and quantify the key success drivers of your business. These indicators relate to your vision, mission and values and certainly they are quantified as goals for achieving results.
Achievable KPI goals to promote a team environment
You can’t improve what you can’t measure and we know that the majority of employees respond well to what management wants. Having said this, it is interdependent upon them being able to fairly impact the goal and KPI’s must be “line of sight” for the employees. Employees will improve the KPI’s, therefore, as a caution: “Be careful what you wish for”
We at Business Process Solutions help your teams decide upon the critical success drivers and then quantify and wordsmith the goals so they are clear, concise and achievable. We work closely with your team to help them choose the appropriate inputs for developing KPI’s. This is an iterative process using team dynamics to ensure buy-in and provide the design team adequate opportunity to provide their input by using a unique multi-layered team participation exercise. The KPI list is then refined into measurable and actionable drivers. The KPI’s are now ready for the next step which is to develop the process to drive the KPI’s in the direction you wish them to go. This is accomplished through communication and a highly effective Goal Achievement Methodology that is developed with your team to ensure actions are prepared and assigned to team members with due dates. This accountability ensures your team executes what are the most important actions to achieve the success you desire.
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