KPIs
Key Performance Indicators (KPIs)
Key Performance Indicators (KPIs) are massively important for any business or department as they should be a guide to help manage the performance of a business. But often there are not DESIGNED and many grow out of control overtime? KPI formats should be very structured and logical and you should always have them like a tree, the main drivers and the sub drivers. For example. The sales team did 1M Sales in net change, this is an outcome KPI – the end result. The driver of the result was an activity main driver conversion rate of 28% but two down drivers of the conversion rate were number of leads and average sale value. Often the KPIs are all put together which can confuse and lose people. Some people will love them and get lost in the detail and some will be scared by them. Its so important to get the balance right. What should they do?
- ^They should the outcome you want
- – my team needs to ultimately delivery x
- ^They should be a guide
- – Highlight where you issues are
- ^They should help you perform
- – if we improve here how will the outcome improve?
I was going to write a list of KPIs- never got to finishing it, but I guess the point is here. What are your KPIs, are they clear? Do they demonstrate where you are strong and highlight if you have weaknesses?
Here are some examples of KPIs to help you think and what other KPIs should I add?
