Balanced Scorecard KPI Examples: 2023's Complete List for your KPI Scorecard

Mon, Jan 16, 2023 @ 08:11 AM KPIs & Dashboards

As the middle market strategy execution experts, we get asked a lot of questions about KPI scorecards 179 KPI Examples for Any Industry for firms to manage the metrics that matter. In fact, we get hundreds of thousands of yearly views on our KPI blog posts alone! Our comprehensive KPI Guide is one of the most valuable free resources that we offer to the middle market community free of charge to help with your performance management. It helps middle market companies determine the right set of KPIs for their balanced scorecard KPI dashboard (BSC) to monitor their performance. If you are a CEO, or executive, you might also want to check our blog of CEO KPIs that should be prioritized by management. Creating a KPI Scorecard is part of long term success and an important part of any managing strategy to drive organizational performance.

As you’ll see below, we have a wide variety of KPI examples across multiple industries that will help you explore some of the more common KPIs that middle market CEOs and their executive teams use to manage their business dashboard. You’ll want to make sure that you provide a good mix of leading indicators (how to create a leading indicator KPI), which hint at future performance and result indicators, which report results already achieved. As they say, what gets measured gets managed so make sure that you choose your KPI examples wisely and build an accountable team to exceed your annual targets. The key metrics, time frame on your KPI report will help you achieve your goals with greater speed through focus and clarity with improved organizational alignment.

The balanced scorecard was created in 1992 by Kaplan and Norton to ensure that all the different attributes of a company's success were accurately measured with key performance indicators to achieve your strategic objectives. We often use this as a lens when looking through company KPI dashboards as we most often find that they are dominated by financial metrics and aren't that balanced at all. A complete KPI scorecard should have performance measurements that include not only financial targets, but also customers and stakeholders, internal processes and employee learning and growth to develop a comprehensive dashboard to drive business objectives and goals.

As the balanced scorecard institute defines the Balanced Scorecard KPI categories for your metrics:

Financial: often renamed Stewardship or other more appropriate name in the public sector, this perspective views organizational financial performance and the use of financial resources
Customer/Stakeholder: this perspective views organizational performance from the point of view the customer or other key stakeholders that the organization is designed to serve
Internal Process: views organizational performance through the lenses of the quality and efficiency related to our product or services or other key business processes
Organizational Capacity (originally called Learning and Growth): views organizational performance through the lenses of human capital, infrastructure, technology, culture and other capacities that are key to breakthrough performance

KPI Scorecard

Use these balanced scorecard KPI templates to get your KPI scorecard started. Each of these KPIs measures the performance of a key part of your business to help ensure that you meet the business objectives of the team. Keep in mind that the list is just a starting point; you’ll really need to work with your team to find the ones most valuable for your department to create a balanced scorecard execution rhythm to measure your progress on your company's strategic initiatives for growth. Our extensive list of BSC KPI examples is listed below and available for download and include customer KPIs and scorecard measures for any industry and should be part of any strategy map. If you use objectives and key results, OKRs vs KPIs is explained in this related blog post that will help you mold these into the best metrics to help you achieve your strategic objectives through performance management.

Financial Balanced Scorecard KPI Scorecard Examples (Stewardship)

Net profit
Gross profit
Gross margin
Net margin
Profit margin
EBIDTA
Quick Ratio
Revenue per employee (FTE)
Payroll headcount
Revenue per customer
Revenue growth
Debt to equity ratio
Team effectiveness
MRR monthly recurring revenue
ARR annual recurring revenue
Cash conversion cycle
Product revenue
Service revenue
Number of days outstanding
Cash on hand
ROE return on equity
Current ratio
Cash Flow

Financial KPI Scorecard Examples (Sales)

Deals closed
Contacts made from networking
Number of calls made
Trade shows attended
Number of social media posts
Number of blogs written
Prospects identified
Sales qualified leads (SQLs)
Sales accepted leads (SALs)
Total outbound attempts
Outgoing Calls
Emails
Conversations
Pain identified
Number of first appointments set
Number of second appointments set
Face-to-Face Meetings
Proposals presented
Proposals pending
Closed - lost
Closed – won
Win rate
Networking events attended
Speaking events attended
Speaking events performed
White papers published
RFPs (request for proposals) received

Internal Process Balanced Scorecard KPI Examples

Capacity utilization
On standard operating efficiency
Overall operating efficiency
Overall equipment effectiveness
Machine downtime
Scheduled downtime
Unscheduled downtime
Machine set-up time
Inventory turns
Inventory accuracy
First pass yield
Failed audits
Customer returns
Revenue per employee
Profit per employee
Number of parts produced
Overall equipment effectiveness
Reject ratio
Operating rates
New product SKU sales
Quality
Production/output
Labor cost
Delivery performance
Total cost
Material cost
Safety
Reject/scrap
Equipment utilization
Total cycle time
Overtime
Backlog
Open orders
On-time delivery
Maintain inventory level
Safety recordables (near-misses)
Stock-outs
Daily sales
Weekly sales
Monthly sales
Quarterly sales
Year to date Sales
Sales vs. budget
New revenue from existing customers
Revenue from new customers
Training hours
Internal quality
DPPM (defective parts per million)
Number of customer issues
Labor utilization
Operating margins
Training hours
Customer lifetime value
Processes and procedures developed
Quarterly rocks completed
Defined objectives and measures aligned with your strategic goals
Week in Sync (WIS) Notes from team meetings week to week - is stuff getting done?
Number of action list items completed on-time
Number of action list items overdue

Organizational Capacity KPI Scorecard Examples

Voluntary attrition
Involuntary turnover
Number of key hires
Keep smart (learning)
Gallup employee engagement survey
Employee NPS (net promoter score)
Percentage of "A Players"
Percentage of "A Managers"
Number of new hire failures in 90 days
Number of starts per week
"Fill percentage" of open jobs
Percentage of redeployment
Weekly job orders
Spread or gross margin
Applicants to hire ratio
Employee retention or turnover rate
Billable hours
Number of timesheets submitted on time
Accounts past 60 days receivable
Submissions per hire
Temps to full-time hire
Continuing education and training
Number of quality meetings per week (sales leading indicator)
Glassdoor recommendations
Glassdoor ratings
Positive social media posts
Fill rate
Interview to hire rate
New hires vs. replacement hires
Number of billable hours closed/won
Number of billable hours delivered
Days to fill
Revenue
Client Substitutions
Hiring manager satisfaction rates
Job performance (sales quotas, customer satisfaction ratings, etc.)
Strategic planning rhythm to make adjustments

Internal Customer Balanced Scorecard KPI Examples

Meeting SLAs (service level agreements)
Customer satisfaction
Number of client issues resolved
Call pickup time
Abandon rate
Order Accuracy
Rework
Average time to resolution
Average reply time
Number of support tickets
First contact resolution rate
NPS (Net Promoter Score)
Top agents
Number of bugs reported
Customer retention rate
Support costs as a percentage of revenue
Customer service satisfaction rate

Financial Leading Indicator KPI Examples

Clickthrough rate
Conversion rate
Bounce rate
Email sharing
Forwarding rate
Number of email clicks
Number of likes
Number of shares
Number of comments
Number of new visitors
Number of return visitors
Number of downloads
Number of organic search visitors
Cost per click
Average SERP (search engine results pages) ranking
Number of keywords in SERP top 10
Number of keywords in SERP top 3
Percentage of traffic growth over 90 days
Number of new blog posts
Number of blog post visits
Number of impressions
Customer acquisition

These KPI examples should be enough to get you started on creating your own KPI dashboard to drive your desired business results and performance management. The real secret to making your KPIs is to pick actionable metrics. If you see the number is off, there are concrete steps and actions your team can take to get them back on track. Suppose you are measuring things you can't influence, such as the weather. In that case, they can't drive your team to perform the right actions to execute your quarterly plan and hit the goals and objectives set up in your annual planning meeting that aligns with your overall strategy.

Whenever you set up a new business process or update an existing one, ensure you track the KPIs to achieve your business goals and objectives. This way, you can continually make adjustments at each team meeting to ensure that your processes drive the critical financial metrics that run your business and exceed your strategic objectives. Why are KPIs important?

Make sure to include both KPI types (leading and results KPIs) when creating your dashboard. Check out Rhythm Systems' KPI Resource Center for all you need to know about Key Performance Indicators (KPIs) and how to use them in your organization for real-time feedback on your business. See how Rhythm Systems software can help you execute your balanced scorecard KPI strategy and all of your strategic initiatives. You can download the complete list of KPI examples for any industry by clicking the link.

Need help getting your team aligned to achieve your growth goals? Rhythm systems software was ranked the #1 easiest software to use, highest ROI, fastest implementation, and highest adoption rate on G2.