PERFORMANCE MEASUREMENT METRICS, KPIS & KRAS
Performance measurement metrics must form an integral part of the corporate business review process and must be used as controls to encourage improvement and efficacy of work strategies. Metrics, KRAs and KPIs provide a vital tool for improving performance, making better business decisions, and gaining a competitive advantage.
It is crucial for organizations to track business metrics, employee KRAs & KPIs that really show how the business is doing. Leading corporations measure relevant business metrics to determine an organization’s success and performance.
The challenge however here is that tracking irrelevant metrics will digress companies from focusing on the things that truly matter. This way, businesses will end up stressing about the numbers that have no actual impact on the company’s success. This, it is incredibly important that you not only track Business metrics, Employee KRAs and KPIs but also choose the right ones to track.
So how does a Manager in your company measure his Team’s performance?
He keeps saying his team works hard and is very diligent.
But is everyone working on the right things?
Does their work achieve the outcomes that the team and organization need?
Measuring the right Key Performance Indicators (KPIs) which quantify individual and organizational goals, and evaluating performance accordingly is the answer to this question.
A well-designed set of Performance Measurement Metrics must be able to provide a clear picture of current levels of performance and help your Leadership Team make better decisions that bring the business closer to achieving its strategic objectives.
Identify Relevant Performance Measurement Metrics
Origin Consultants has been helping its clients identify relevant Performance Measurement Metrics, set KRAs and KPIs that reflect and support the various strategies for all aspects of the organization. We provide advice and guidance to companies in the following:
How to link the Performance Measurement Metrics and KPIs to your business strategy and ensure you use the relevant KPIs?
Which is the right measurement methodology for these KPIs and Metrics?
What is the right frequency for measuring the KPIs?
How to decide who all will be in-charge of looking at these KPIs?
Who will interpret their meaning, monitor them regularly and report how it is changing and deciding what that means for the business?
How to establish complete buy-in by all the employees of the defined KRAs, KPIs & Metrics? Each employee should be able to answer this “How will what I am doing today affect the KPIs?”
How will you develop a culture where constant review and improvement are at the heart of everything your employees do?
Why is it important to review and update KPIs whenever there is a change in strategy or corporate priorities?
Our Performance Management Experts ensure that the KRAs, KPIs and Performance Measurement Metrics are designed, implemented, and used exactly as they were intended - to help your company succeed!