HOW TO SET KEY PERFORMANCE INDICATORS (KPI) - FOR OBJECTIVE PERFORMANCE MANAGEMENT
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The process of setting performance standards which can support appraising your employees’ performances against predefined sets of criteria that support the organization’s goals and objectives. The process we will deliver to you should additionally give you opportunity to measure each employee’s ability, interest and characteristics in addition to the quantitative measures.
By the time the exercise is concluded, managers will have developed the document will understand the processes that:
- Clarifies Performance Goals, Objectives and Process of senior management members and employees.
- Encourages employees towards responsibility and accountability.
- Establishes a line of vision between job description of each employee to the group’s business performance and objectives.
- Links to other HR components like career development, competency development and rewards.
- Supports an objective and continuous feedback between employees and Management.
Development of KPIs – the Balanced Scorecard Approach
- Customers (what customers we target and what should they be experiencing through us).
Business Process Perspective
- Processes (how must we organize to deliver what outputs and standards the customers desire of us).
Organizational Learning & Innovation Perspective
- Innovation for Growth (new wonderful things we must develop for us to advance and grow).
- Financial (the financial outcomes of all the above and to all stakeholders).
Critical Performance Standards
Line-of-Vision: Cascaded Corporate KRAs and KPIs.
Performance Tracking Tools
- Divisional Performance Tracking
- Department Performance Tracking
- Weekly (Or Monthly) Performance Tracking
What this KPI Setting Process will Enable Organization