Key Performance Indicators(KPIs) are measurable value that describes the effectiveness of an employee or group achieving its objectives. The KPIs determine the responsibilities and duties of the concerned employees and departments by tracking their progress towards the organization’s strategic goals. They are the indicators of how the organization performs to achieve its goal.
The higher-level authorities generally set KPIs. How KPIs are formed can be different depending on the type of organization and its employees. Here are some common things to look at when setting KPIs:
Irrespective of the type of organization, KPIs are equally important for them. To achieve their goals, organizations need to measure the progress of different matrices. Without analyzing the performances, how will they be able to identify the gaps and lacks. KPIs provide the correct information to act upon. When they indicate positive results, employees can be appreciated, and preventive measures can be taken in the case of negative outcomes.
The common KPIs for employees in an organization are: