After the completion of the training period, employees who get recruited also get one more thing which neither the employee nor the employer can ignore. Well I am talking about the KPI’s yes.
The keys to your performance and your future in the firm that indicates your growth potential and the rate of your growth over a period of time; you show case your achievements in this section. This is like just like the iron wherein you need to strike hard to get in the right result. Well many of you aren’t in this tough world wherein you are asked to submit your hits or your performance report to your superior my article would take you in the real world wherein you will get to know the what you’ll get to know what you actually need to do when in office!
The ones interested in human resource which seems to be pretty easy which actually isn’t. then here we go basically in HR there are n number of functions and tasks you need to accomplish and hence we can have KPI’s for each task of theirs.
The list of KPI’s for broader HR areas goes as follows:
- Recruitment KPI
- Training KPI
- Health and safety KPI
- Performance KPI
- Employee loyalty KPI
- Working time KPI
- HR efficiency KPI
- Compensation KPI
- Labor relation KPI
- Regulation compliance KPI
- Employee satisfaction KPI
- HR budget KPI
- Job leaving KPI
- Workforce information KPI
Taking an example of the very first broader category the KPI’s i.e. Recruitment KPI
Recruitment (KPIs)
Recruitment costing KPI
Recruitment costing per position
Recruitment costing per position per channel
Average sourcing cost per hire Average sourcing cost per hire. Sourcing costs include advertising, referral and agency
Recruitment time KPI
Average time to recruit Calculating from date of recruitment require to date of employee hired.
Average time to recruit per position
Recruitment source KPI
Number of CVs / per channel
Recruitment source ratio between internal versus external recruits
Selection KPI
Average number of interviews from submitted resumes Track the number of converted submitted resumes to interviews.
Number of qualified candidate compared to resumes.
Recruitment efficiency KPI
% recruitment achievement meet hiring plan
% new hires achieving 6 months service
% new hires achieving 12 months service
% new hires achieving satisfactory appraisal at first assessment
Above was an example of Recruitment KPI, apart was a standardized form however every organization possess their own personalized KPI’s which are handed over to employees. However lets depart from the HR department and enter the Sales department wherein we get to see energized sales team working to overachieve.
Sales KPI include
- Customer care KPI
- Customer appraisal KPI
- Complaints of customer KPI
- Market share KPI
- Customer loyalty KPI
- Shops and supermarkets KPI
- Sales contact by telephone KPI
- Sales rep KPI
Customer care KPI
Frequency impact to customers
The number of purchase
Cost of services per customer.
Rate = total cost of service / total customers
The let you know how much the investment cost for the customer care.
You can compare this rate with the rate of direct competitors to analyze it reasonable or not?
The rate of service charges / profits
Rate = total cost of service / total profit.
The rate let you know 1 unit of currency profit; you take how many % to customer care.
Pareto rules:
Collect 20% of the customers accounted for 80% of your sales.
Review your distribution rate of 20% of customers accounted for 80% of the cost of care for your customers? If not, you should allocate the cost of customer care for more suitable.
Departing from the sales department and Turing to the all time favorite department of employees and tough part of business the finance department.
Financial KPIs
- Payroll KPI
- Asset management KPI
- Budget KPI
- General Financial KPIs
1. Weighted Average Days Paid
2. Weighted Average Days Past Due
3. Weighted Days Delinquent Sales Outstanding
4. Weighted Terms Outstanding
5. Receipts Amount
6. Revenue (P&L)
7. T&E per Head
8. Total Receipts
9. Unapplied Receipts
10. Weighted Average Days Due
The payroll KPI includes the following:
- Cycle time to process payroll
- Cycle time to resolve payroll errors
- % of payroll disbursements that include retroactive pay adjustments
- Average overall cost of producing a Pay slip per pay run
- % of untimely payroll payments: Number of payments that are not made or made too late to employees as % of total payments to employees.
- Payment errors as % of total payroll disbursement
- % of manual payroll payments
Beneficios
KPI’s help to maintain the workflow and work balance no matter the employer is in there in the office or no. it has intense focus and helps scrutinize the changed conditions, it supports one in performing better, can help the firm in detecting problems and brainstorm solution for solving the same.
Through KPI you can
- Learn
- Improve
- Report
- Compliance
- Control
- Monitor people.
