Key Performance Indicators – KPIs as they are fondly called are what organisations or individuals use to measure performance. As the name states, they are the important indicators or measurements that are aligned with the goals and objectives of the organisation, department, team or individual. Whilst some organisations do not have indicators, others have and do not get value from it. Some of the reasons would be identified later in this blog.
Not Knowing Which KPIs to Measure
Peter Drucker, an Austrian Management Consultant stated that – “What gets measured, gets done”. In other words, if you want to get a job(s)/set of tasks done/completed, measure it! That way, you would know if it has been done.
Confusion sets in when the deliverables are not well defined by the Superior(s). This is often the case when the Superiors themselves do not understand what should be measured. Since KPIs are performance indicators for an organisation, what is being measured should depict the short term and possibly long term goal(s).
Misunderstanding of Company’s Interest
The mission statement and vision of any organisation should be visible in every nook and cranny of an organisation’s premises and should be broken down to simple understandable terms. As earlier stated, one size does not fit all when it comes to KPIs as most organisations are unique in their goals and objectives.
In addition to not knowing what to measure, organisation’s objectives that are not clearly defined are common errors.
To accurately know what to measure, the individual, team or department need to align with the organisation’s goals. This can only be done with the right and accurate understanding of the company’s objectives. This can be achieved by making sure the top management buy into the objectives and pass it down to the chain of command till it gets to every facet of the organisation.
Matching KPIs With Definition of Success
“The world makes way for a man who knows where he is going” – Ralph Waldo Emerson. If the destination is not defined, it is impossible to get there and likewise for KPIs; success is defined by the preferred destination.
The preferred destination in terms of KPIs is the defined goal and objective as set down by the management of the organisation. Once the KPI meets the number(s) set, then that is success!
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