Key Performance Indicators (KPIs)

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Presentation transcript:

Key Performance Indicators (KPIs) Ing. Athanasios Podaras, Ph.D October 2016, Liberec

KPIs KPI help managers and employees gauge the effectiveness of various functions and processes important to achieving organizational goals.  KPIs are intrinsically linked to a firm's strategic goals and are used to help managers assess whether they are on or off target as they work towards those goals.

KPI examples  sales team might track new revenue, total revenue, new customer capture,  customer support team measures the customer's satisfaction (loyalty of customers, profit by customers etc Human resources will look at employee engagement, employee turnover, time-to-fill open positions  Efficiency of processes...i,e, percentage of product defects

Challenges regarding KPIs Major challenge is not to use lagging indicators but leading indicators Lagging: show what you have performed Leading: help you define future strategy REMARKS!!! NOT Only financial indicators are important Unclear objectives lead to the reliance mainly to financial indicators

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