No CEO doubts the importance of measuring their company’s performance properly. Yet the executive teams I’ve assisted over more than 25 years generally struggle to engage with the challenge. As one CEO put it to me, “when we get to corporate KPIs their eyes glaze over.” Or, as anothe...
KPIs must be selected so that they align with a company’s strategy and goals. They also need to be relevant to the industry, department, team, and skillset of the individual employee. KPIs are wonderful tools, but only when quantifiable goals are set in advance. This is whereobjectives an...
KPIs and OKRsshould not be confused. OKRs are used to establish future corporate objectives, achievable through key results. KPIs (Key Performance Indicators) are data that analyze an ongoing activity to see how it is performing. Thus, KPIs would serve to check that KRs are succeeding. In turn...
Not every KPI formula is essential for every business—a funeral service company, for instance, probably shouldn’t measure success by customer retention, as they’re not really in the business of repeat service. So, ensure you choose KPIs that are relevant to your industry and business goals....
The difference between a good and a great product lies in your Product Strategy, answering vital questions like: Who's the product for? What benefits does it offer? How does it further company objectives?Enroll for Free What are OKRs and KPIs? Before we get any further, let’s define OKRs...
A key performance indicator, or KPI for short, is one gauge of how well your business is hitting its performance targets. Profit, sales growth, and employee retention are popular KPIs, but you can’t really determine what appropriate KPIs are for your company until you do some goal-setting....
A Key Performance Indicator (KPI) is a quantifiable measure of performance, which you have decided is important. They are commonly used in business as a way of tracking progress towards goals. KPIs can be used to measure performance at different strategic levels. For example, a company might ...
That shows your goals fit theirs like hand-in-glove. Don’t do it like the next of our career goals examples: wrong Q: What are your work goals? A: My career goal is to earn $120,000 a year as a sales team manager for a great company, with flex time and full benefits. ...
KPIs are utilized by companies to drive growth through performance enhancements. For instance, suppose your objective for the next four months is to increase leads by 20%. In this case, a straightforward KPI framework may appear as follows: ...
Company-wide KPIs focus on the overall business health and performance. These types of KPIs are useful for informing management of how operations stand in the company as a whole. However, they are often not granular enough to make decisions. Company-wide KPIs often kick off conversations on why...