Steps:
Step 1: Choose KPI.
Step 2: In the KPI, choose Create.
• Fill in the Name of the result table (e.g. KPI table for HR department in April 2023...)
• Choose the Sample KPI (the system will display the sample KPI table that has been set up previously), choose the salary table that you want to apply.
• Create KPI result table for the month: Choose the specific month and year for the KPI table you want to create.
• KPI Data Entry Type: Choose between the options of entering data all at once or entering data daily.
• KPI Calculation Timeframe (choose monthly or a specific timeframe based on the needs of each company)
Q&A:
Question 1: What is a KPI?
Answer: A KPI (Key Performance Indicator) is a key performance metric used to measure and evaluate the achievement of strategic goals of an organization, department, or individual. KPIs help determine the success of activities and strategies by providing specific information on progress and effectiveness.
Question 2: How can KPIs support my business if I use them?
Answer: Here are some important aspects of KPIs:
Goal Identification: KPIs are designed to measure specific, important goals for the organization or individual. For example, if the company's goal is to increase revenue, a KPI might be the monthly revenue growth rate.
Quantitative Nature: KPIs are usually quantitative indicators that can be measured and tracked over time, such as the number of products sold, customer retention rate, or the number of new customers.
Practicality: KPIs need to be practical and achievable so that organizations can track and assess the effectiveness of strategies and activities. They must directly relate to the strategic goals of the organization.
Regular Monitoring: KPIs are tracked and evaluated periodically (weekly, monthly, quarterly, annually) to monitor progress and make necessary adjustments.
Specificity: KPIs vary depending on the industry, organization, and specific goals. For example, KPIs in retail might include average revenue per customer, while KPIs in manufacturing might focus on product defect rates.
Examples of KPIs:
- Monthly Revenue: Measures the total revenue the company achieves in a month.
- Customer Retention Rate: The percentage of current customers who continue to shop or use the service over a specific period.
- Work Performance: Measures employee performance based on the number of tasks completed or the quality of work.
- Customer Satisfaction Rate: Measures customer satisfaction through surveys or feedback.
KPIs help organizations monitor progress, assess effectiveness, and adjust strategies to achieve long-term business and strategic goals.