What Are The Types Of KPI?

How is employee KPI measured?

Universal employee performance KPIsRevenue per employee.

= Revenue/number of employees.

Profit per employee.

= Total profit/number of employees.

Employee billable percentage.

= (Total weekly billable hours logged/total weekly hours logged) x 100.

Average task completion rate.

Overtime per employee.

Employee capacity.Oct 14, 2020.

How do you set KPI’s?

Setting SMART KPIsSpecific: be clear about what each KPI will measure, and why it’s important.Measurable: the KPI must be measurable to a defined standard.Achievable: you must be able to deliver on the KPI.Relevant: your KPI must measure something that matters and improves performance.More items…

What are the 7 major HR activities?

The seven HR basicsRecruitment & selection.Performance management.Learning & development.Succession planning.Compensation and benefits.Human Resources Information Systems.HR data and analytics.

How do I create a KPI in Excel?

Create a KPIIn Data View, click the table containing the measure that will serve as the Base measure. … Ensure that the Calculation Area appears. … In the Calculation Area, right-click the calculated field that will serve as the base measure (value), and then click Create KPI.More items…

How do you evaluate KPIs?

KPI Evaluation: A Comprehensive KPI GuideTip 1 – Start with the Right Question.Tip 2 – Less is More.Tip 3 – Use Leading Indicators to Drive Results.Tip 4 – Red, Yellow, Green.Tip 5 – Maintain a Healthy Balance.

How many KPIs should you have?

2 KPIsAs a rule, we generally say you should have 2-3 KPIs per objective, to ensure a variety of measures without overwhelming the picture. The reason we use a minimum of 2 KPIs as a rule, is because we believe each business objective should have at least 1 leading indicator and 1 lagging indicator.

How do you measure performance?

Here are a few ways to measure and evaluate employee performance data:Graphic rating scales. A typical graphic scale uses sequential numbers, such as 1 to 5, or 1 to 10, to rate an employee’s relative performance in specific areas. … 360-degree feedback. … Self-Evaluation. … Management by Objectives (MBO). … Checklists.

What is KPI in HR?

An HR key performance indicator or metric is a measurable value that helps in tracking pre-defined organizational goals of human resources management. HR departments use KPIs to optimize recruiting processes, employee engagement, turnover rates, training costs, etc.

How do you measure quality KPIs?

To measure quality performance, I recommend the following KPIs:Right first time. This KPI measures how many products you produce correctly from the first time without any modifications before sales.Complaint rate. A KPI that measures your number of complaints.Internal audit plan adherence. … Overdue corrective actions.Mar 5, 2020

How do you list KPIs?

COMPLETE LIST OF KPI EXAMPLES BY DEPARTMENT1) Customer Acquisition Costs.2) Customer Lifetime Value.3) Sales Target.4) Operating Expenses Ratio.5) Net Profit Margin Percentage.6) Return on Assets.7) Return on Equity.8) P/E Ratio.

What is KPI in safety?

At the heart of a successful business lies a strong safety culture. And, just like other areas of operations, a successful company makes use of the data available to continuously work to drive up standards in health and safety, employing a range of Key Performance Indicators (KPI’s) to track specific objectives.

What KPIs does Apple use?

According to a Harvard Business Review article, Apple Inc., uses five performance indicators:customer satisfaction;core competencies;employee commitment and alignment;market share;shareholder value.Mar 20, 2020

What are the 5 key performance indicators?

1 – Revenue per client/member (RPC)2 – Average Class Attendance (ACA)3 – Client Retention Rate (CRR)4 – Profit Margin (PM)5 – Average Daily Attendance (ADA)Oct 1, 2017

What KPI measures?

Oxford’s Dictionary definition of KPI: A quantifiable measure used to evaluate the success of an organization, employee, etc. in meeting objectives for performance. Investopedia’s definition of KPI: A set of quantifiable measures that a company uses to gauge its performance over time.

What is a good KPI?

Good KPIs: Provide objective evidence of progress towards achieving a desired result. Measure what is intended to be measured to help inform better decision making. Offer a comparison that gauges the degree of performance change over time.

What is KPI salary?

KPI SalariesJob TitleSalaryAssociate Producer salaries – 1 salaries reported$3,872/moManager salaries – 1 salaries reported$60,000/yrIntern salaries – 1 salaries reported$15/hrPersonal Care Assistant salaries – 1 salaries reported$11/hr2 more rows

What is key performance area?

Key performance areas refer to the areas within the business for which a person is responsible e.g. Process Improvement, Safety and Health, Security, etc. A key performance area is further defined or delineated by one or more key performance indicators (KPI’s).

What are KPI tools?

KPI tools are a business reporting solution used by companies to track, monitor, and generate actionable insights from key performance indicators specific to company’s business objectives to achieve sustainable business development and, ultimately, profit.

What are the most important KPIs?

What Exactly Are the Most Important Financial KPIs That Inform Business Strategy?Revenue Growth. Sales growth is one of the most basic barometers of success for any business. … Income Sources. … Revenue Concentration. … Profitability Over Time. … Working Capital.

What are the 4 types of performance indicators?

Anyway, the four KPIs that always come out of these workshops are:Customer Satisfaction,Internal Process Quality,Employee Satisfaction, and.Financial Performance Index.

What are examples of KPI’s?

Examples of Sales KPIsNumber of New Contracts Signed Per Period.Dollar Value for New Contracts Signed Per Period.Number of Engaged Qualified Leads in Sales Funnel.Hours of Resources Spent on Sales Follow Up.Average Time for Conversion.Net Sales – Dollar or Percentage Growth.