You could certainly argue that your NPS isn't really a marketing KPI. This refers to the number of lost time injuries that happen per million hours worked. (Hence, key performance indicators.). Whilst not a precise science, the revenue per employee (total revenue / total employees) is a good indicator of how efficient your overall organization is. Return on equity ratio not only provides a measure of your organization’s profitability, but also its efficiency. Read on: The complete guide on KPI dashboards. The information on this site is provided as a courtesy. KPIs can be high-level, monitoring the global performance of a business, or more low-level, focusing on processes‘ or individual’s performance. The software allows organisations to enter their data into one specially designed system, or connect external services for faster and more accurate data collection. Average Number of Interviews from Submitted applications/ CVs 6. KPI stands for key performance indicators, which are measurable values that allow you to understand how your department or organization is performing. Crucial to achieving your goal. First, ask yourself what it is that you want to achieve. They're certainly not converting if they end up heading back to the Google search results page within a few seconds of clicking on a link to your site. Therefore, if your department responds to customer queries faster, they will be happier with your services and will be more likely to stick around for long. Expenses vs. budget: With these metrics, you can compare your actual overhead with your forecasted budget to help create a more accurate and effective budget in the future. Percentage of total sales from existing customers, 35. If you manage a team, there’s a good chance you’ve heard of key performance indicators (KPIs). Whilst individual employees may have legitimate reasons for absence, you need to closely monitor the blended overall trend of absenteeism. A key performance indicator is a number that shows whether you’re getting closer to your goal or if there’s a lag in progress. These are the key performance indicators under the Sales category. This is the expenditure that will be aimed at minimizing health and safety hazards within an organization. © Copyright 2019 Responsis Pty Ltd. All rights reserved. Highly customizable reporting automation tool, Find out why Klips is the right reporting tool for you, Going from data to awesome reporting visualizations, here’s how Klips work, Get expert 1-on-1 help building your reports in Klips, 80+ interactive dashboard reports for you to explore, Track and analyze your team's metrics all in one place, The best source to learn about metrics and KPIs, What is a key performance indicator (KPI), Email Marketing Metrics and KPIs Examples, Supply Chain Metrics for Data Driven Leaders, Human Resource (HR) Metrics for Data-Driven Leaders, Evolve them to fit the changing needs of the business, Check to see that they are attainable (but add a stretch goal), Aligned - Make sure thy align with the strategic goals and objectives of your organization, Attainable - The indicators you choose to measure should have data that can be easily obtained, Acute - They should keep everyone on the same page and moving in the same direction, Accurate - The data flowing into the performance indicators should be reliable and accurate. This list is perfect for those who have already defined their business objectives and are looking for some inspiration around ways to measure these objectives. Sales by region: By analyzing your sales in different areas, you can obtain key insights into why some regions may be underperforming and make strategic changes to improve sales performance in those areas. If you see a downward trend in growth, you may need some remedial action to put the business back on the right track. You do want to be careful with this KPI, as it is not applicable to all types of organizations and the definition of ‘overtime’ will vary per organization. For us as a SaaS business, we look at the Life Time Value of a customer (LTV) based on what they pay in their subscription and how long a subscription typically lasts. It is however useful for bench-marking your performance over time, or comparing your profitability to another similar company. Regardless of whether you’re familiar with them or you’re still asking, “What is a KPI exactly?”, let’s take a little refresher course and then look at some examples and equations for the most important metrics for your organization. This gives you an indication of how much of your inventory is being sold compared to how much you purchased. By understanding this, you could choose to use that time to perform software updates, conduct company-wide training or explore new opportunities for growth. Asset turnover ratio (sales to assets), 32. The formula is (Total lost workdays due to absence) / (Number of available workdays) = (Absenteeism rate). A logical extension of measuring traffic is to measure how much of that traffic actually converts into leads. So for every 100 people, an organization would have a 0.3 LTIs. Each department will use different KPI types to measure success based on specific business goals and targets. It is important to keep track of how many visits convert to sales. Percentage of defects: Monitor the number of defective products, and calculate the rate of products that are defective during a specified period. KPI Examples - 84 Key Performance Indicators For Your Business, Cascading & Engaging People With Strategy. This metric helps to understand what it costs to deliver each IT offering. 1. Each department will want to measure success based on specific goals and targets. It can be useful to measure a few KPIs in the categories of employees, customers, processes and revenue. Comparing the current year’s performance with the previous year’s records can help provide some insight. KPI is a measure used to define and evaluate how successful an organization is. Scroll down to view the KPI examples, or you can view the individual pages for each category by clicking the links below. Percentage job offer acceptance rate 4. Costs: With this KPI, you will monitor your expenses and look for ways to reduce and manage costs to increase profitability. How, then, should you go about selecting the right KPIs for your organization? Login with ajax is not installed (or active). Related: Using Key Performance Indicators (KPIs) to Achieve Goals. 0.001 accidents per employee. Inbound calls handled per representative, 25. KPIs, or key performance indicators, allow you to measure the health and progress that your department or company is making toward reaching its goals. At their core is the notion that every organization has a set of metrics it can utilize in order to judge the performance of either a part or the whole of the operation. You need to take it seriously and don’t rely on email feedback alone as your survey mechanism. You can do the same thing for all employees if you want to. However, it’s important to make sure that the ones you choose align with your goals and objectives. If you invest too little, it's likely that you'll either (a) struggle to develop top talent internally or (b) have top talent leave to pursue training and development opportunities elsewhere. Following is an example of a tactical KPI dashboard: Strategic KPI dashboards. This can be measured with NPS score and/or regular surveys delivered to the customers after the transaction (we've covered NPS in this article). Conversion rate for social media leads. In addition to monitoring the number of accidents/incidents, you'll probably also want to convert this number to a ratio per employee - i.e. Find out what types of key performance indicators are relevant to your department, industry, or role: Types of KPIs. So you've got leads coming in, but are they quality leads that can actually result in sales? In many cases, agents will spend some more time informing colleagues about the call, sending emails and updating the database. KPI Example: Decrease inventory turnover by 5 days by 31/12/2019. Dashboards & reports to help you stay on top of your strategy. You’ll probably only need 20 KPIs out of this entire list. Making sure your content is filled with useful internal links is a great way to keep people engaged. Learn more: Business Metrics. Implement the 9-Box Talent Grid, and measure how many employees fall into the 'Cherish & Retain' group each year. Karola has got years of experience in growth marketing and working with SaaS startups. That's because they've made a conscious effort to return to your site and are clearly interested in what you're doing. Number of client accounts per account manager, 67. A good time on site will vary depending on the complexity of your product and the depth of your content. Here are 16 KPI examples for the workplace to help guide your decision: There are many KPIs you can measure that are specifically related to your organization’s or department’s finances, including: Profit: You will need to review both gross and net profits to understand how successful your organization has been at generating a high return. For example, if your organization had 10 employees and there were only 5 days lost due to health and safety issues, your Productive Days % would be 99.86% ((3645 days / 3650 available days) x 100 = 99.86%).