There's constant pressure to achieve performance targets, to reach higher performance levels, and to ensure that people's work supports and furthers the organization's goals. Performance management is a continuous process and aims to stimulate and develop employee effectiveness. The key question asked is, "How well is an employee applying his or her current skills, and to what extent is he or she achieving the outcomes desired?" The traditional performance evaluation process is based on hard data. What is often missing from this evaluation, however, is the part about making sure that the employee is doing the right thing. After all, having a hard-working and dedicated team member alone does not ensure advancement in the organization's purpose. This is where key performance indicators come into play, and they apply both at the organizational and individual levels. At an organizational level, a Key Performance Indicator (KPI) is a quantifiable metric that reflects how well an organization is achieving its stated goals and objectives. If your KPI is inappropriate or naive, however, the resulting behaviors may be counterproductive. PRC offers a professional and dedicated support to its clients in developing the most relevant KPI’s which are in correlation with organizational goals and objectives both in short and long term. The process undertaken is briefly outlines below.
- Understanding an organization’s Vision, Strategy, Objectives and Critical Success Factors.
- Defining KPIs
- Defining measurement metrics
- The number of metrics (Enough, but not too many!)
- The frequency of measurement in terms of time
- Persons/s accountable for the metric
- The complexity of metric
- Setting the benchmark
- Metrics with reference to strategic drivers for organizational success