It is no secret that your people are instrumental to the success of your business. In order to have a great company, you not only have to hire the right people and get them in the right seats as Jim Collins says, you also have to work to retain and engage those people once you have them. The best companies use key performance indicators for employees to make sure that they are getting the most out of their most important investment - their employees. Having the right set of quality metrics can greatly improve your performance management in creating a high-performing team.
I previously wrote a blog titled 21 Production KPI Examples to Improve Manufacturing Performance, and many people were interested in learning more about how to measure and improve on-time delivery, one of the specific KPIs I mentioned. I am often asked how to improve on time delivery in manufacturing companies. The on time delivery KPI time as one of their most important Key Performance Indicators as it is directly related to customer satisfaction and repeat orders. So, let’s dig a little deeper into effective ideas to improve on time delivery.
CEOs and business leaders spend a lot of time and energy working to hunt down important data and make the right decisions to grow the business based on what they find. The hunt requires time, skill, effort, and consistency. Often teams of people are involved whose whole job responsibility is to collect data and present it in a way that can be understood and acted on.
Understanding and acting on the right data is where things get very difficult and often complex. I've been in countless meetings where stale data is presented in pretty charts. Most of the team in the meeting doesn't understand it and in no way acts on it. Most in the room are embarrassed to speak up for fear they will look stupid, so they nod and go along with the presentation hoping to get out of the meeting as fast as they can so they can get their large pile of work done.
Leadership 101 tells us that it’s important to set clear and specific goals for ourselves and for our teams in order to achieve business goals and objectives. In other words, all of our business goals should be “SMART” (Specific, Measurable, Achievable, Relevant and Timely.) In order to craft a good smart goal, you need to take a couple of steps back and look at the whole picture - why are you doing this? The best SMART goals always start with “why.” Are you taking an educated guess at what you think a good goal is going to be that will equate to business success? Are you confident enough in defending that guess to someone else? If you fully understand the “why” behind the project, it is much easier for you to define your time-based goals. Goal setting theory clearly states that the better you write your SMART goals, the better your team will perform.
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At Rhythm Systems, we work with clients to ensure they are measuring the metrics that matter to allow them to achieve their dreams and goals. Our strategy execution software allows you to create KPI dashboards to ensure team accountability, alignment, and execution-ready quarterly plans. The staffing industry KPIs for recruiting that we have compiled below represent many of the metrics that can be measured. However, make sure that you pick the top recruiting KPIs that work for you and your team.
As the middle market strategy execution experts, we get asked a lot of questions about KPIs or Key Performance Indicators 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 companies determine the right set of KPIs for their business if they don’t have the resources to utilize our expertise and KPI dashboard software to create a balanced scorecard of their performance.
Research shows that our economy is largely being driven by middle-market firms, especially those in the service industries. Key Performance Indicators (KPIS) are one of the most effective tools for service companies to manage their growth, cash flow, customer retention and customer satisfaction. According to a press release from American Express:
After recently reviewing thousand of Annual Plans and Quarterly Plans, I can say without a doubt that improving employee engagement seems to be top of mind for everyone this year. How on earth do you keep today's dynamic and diverse employees happy, engaged and productive? It's the million dollar question that we ask ourselves year after year.
According to Gallup, companies with highly engaged workforces outperform their peers by 147%. Gallup also concluded that 87% of employees worldwide are not engaged. So, how do you know if your company is on the right side of those statistics? You need to start measuring employee engagement KPIs this quarter so that you can keep your A Players and reduce employee turnover. This is not just a function for the human resources department, the best team managers measure employee satisfaction on their teams.
It may still feel like the middle of winter to some, but you might find that it is time to do some spring-cleaning when it comes to your KPIs. We recommend tracking no more than 8-12 KPIs at a time for each team, but we’ve noticed that some of our clients get trapped by what we call “KPI creep.” They may start with a list that makes sense for their business, and then over time, the KPIs just get rolled over from one quarter to the next and one year to the next, and they keep adding to the list as they develop new critical numbers or want to move the needle on different metrics. Before too long, their KPI dashboard is like that nightmare closet; you know, like your teenager’s closet, when you open the door and stuff falls out on your head because it is just so full and disorganized. If this is happening to you, you need to perform a KPI Audit to get back to measuring what matters.