Posts tagged "Key Performance Indicators"

Year-end Recap: The KPI Institute Identifies the Most Popular KPIs in 2021

November 29th, 2021 Posted by KPIs, Research 0 thoughts on “Year-end Recap: The KPI Institute Identifies the Most Popular KPIs in 2021”

most popular KPIs

The wave of changes in the past two years has compelled businesses to review their performance and realign their strategies to the times. The losses, leaps, and lessons vary in different industries, but organizations, from multinational companies to brick-and-mortar stores, have to answer the same question: What is the best “new normal” for us?

As businesses adapt to a rapidly changing environment and figure out what works for them, key performance indicators (KPIs) are more important than ever. KPIs can serve as the order beneath the chaos, helping organizations achieve and monitor a desired level of results for their activities.

The KPI Institute, carrying over 17 years of experience in the field, continues to share its expertise and knowledge on KPI best practices through the Top KPI reports. As the year comes to a close, we’ve bundled up the most popular KPIs released in 2021. The results are based on the data from smartKPIs.com, the world’s largest database of documented KPIs. 

This series of reports provides companies, practitioners, consultants, and professionals with updates and resources on how to select and use KPIs in their respective industries or functional areas. Each report features the profile of every KPI, analysis, notes on KPI reporting, and other information related to the performance management discipline.

2021 Top 25 KPIs

The Top 25 KPI reports present the most popular KPIs in various industries and functional areas, such as procurement/purchasing, marketing, production, human resources, customer service, hotels, restaurants, finance, and real estate development and transactions.

2021 Top 10 KPIs

Download the Top 10 KPI reports for different industries for a more compact version of the KPIs’ profiles, analysis, and in practice recommendations.

2021 KPI of the Month

Discover the most popular KPIs in their respective industries or areas through the KPI of the Month poster collection.

For more information on the research reports of The KPI Institute, get in touch with Cristina Mihăiloaie, Business Unit Manager – Research Division: cristina.mihailoaie@kpiinstitute.com | +61 (390) 282 223 | +40 (749) 424 517.

50+ KPI Templates, Scorecards, and Dashboards for Measuring Business Success

October 22nd, 2021 Posted by KPIs, Research 0 thoughts on “50+ KPI Templates, Scorecards, and Dashboards for Measuring Business Success”

KPI templates are developed to help organizations find the right key performance indicators (KPI) for their business.

With over 17 years of research on KPI best practices, The KPI Institute emphasizes that KPIs and their value are defined and perceived depending on the industry, functional area, organizational focus, and public, private, or personal domain of application.

What is a KPI?

The KPI Institute defines KPI as a measurable expression for achieving the desired results in an area relevant to the evaluated entity’s activity. KPIs make objectives quantifiable, providing visibility into the performance of individuals, teams, departments, and organizations and enabling decision-makers to act on achieving the desired outcomes.

Typically, KPIs are monitored and communicated through dashboards, scorecards, and other forms of performance reports.

In performance management, a dashboard is used for monitoring data daily. It is characterized by visual representations of data that enable a fast and easy understanding of the performance status.

Measuring performance with dashboards and configuring it requires using enough KPIs, aligning KPIs across the organization, and establishing accountability. To design an effective dashboard, an organization should choose the most relevant KPIs, ensure the presence of precognitive attributes in the visuals, make the features interactive, and regularly provide updates.

A balanced scorecard is a tool in strategic planning and performance management that shows the four dimensions of an organization: financial, customer, internal processes, and learning, and growth. Some of the benefits of using a balanced scorecard are integrated strategic planning, the alignment of KPIs with strategy at all levels of an organization, and a comprehensive view of business performance.

The KPI Institute has put together KPI templates and a platform where you can download scorecards, dashboards, and other performance templates.

key performance indicators

For inquiries, email us at office@kpiinstitute.org or call T: +61 3 9028 2223 M: +61 4 2456 8088.

The Future of Production: Top 25 KPIs to Track for Efficiency and Quality

October 1st, 2021 Posted by Research 0 thoughts on “The Future of Production: Top 25 KPIs to Track for Efficiency and Quality”

KPIs production

Production KPIs matter now more than ever as businesses recover from the shocks brought about by the pandemic. When the global crisis slowed down production processes, companies were forced to make difficult strategic decisions.

Market shifts, movement restrictions, and material scarcities stemming from supply chain disruptions have affected several areas of the production process.

For instance, chemical manufacturers worldwide had to trim down capital and operational expenditure and shrink their operations to 40-60 percent capacity. This is due to insufficient manpower, dwindling demand, and inadequate raw material supplies, according to the data published in Manufacturing Tomorrow.

To meet contractual obligations and increase productivity, companies are encouraged to rethink their processes, explore new opportunities, and adapt to trends.

Digital connectivity is among the trends that will dominate industries as the 5G coverage worldwide continues to expand. Sustainability is also seen as a critical factor that will shape business operations and investments. The global market for green building materials is expected to grow from US$238 billion in the year 2020 to US$425.4 Billion by 2027.

Developing a new production strategy

However, the future of production is not just about the what and the why but also the how.

The potential of innovative technologies and business models can be further realized if their application is based on data-backed decisions. Such decisions help companies minimize risks, carry out relevant strategic plans, and see what works and what doesn’t.

With this, decision makers and managers should pay attention to their production KPIs, which aim to guarantee the quality of the production process, from efficiency to productivity as well as the quantity and quality of output.

The KPI Institute has released “The Top 25 Production KPIs – 2020 Extended Edition” to provide companies an international perspective on the most popular production KPIs. It is designed for organizations and professionals who want to measure the components that contribute to the successful implementation of a production strategy.

With over 100 pages, the report presents the most viewed KPIs based on the information gathered from smartKPIs.com, a database of over 20,000 documented KPIs.

You can download the “The Top 25 Production KPIs – 2020 Extended Edition” to access the profile of each KPI and learn its potential impact on your production strategy. You will also find exclusive in practice recommendations and best practices for KPI selection and documentation.

Here is an overview of the top 25 KPIs categorized into five areas:

Production Efficiency – ensures that the production locations are always running at full parameters.

  • # Units per man-hour
  • % Production capacity utilization
  • # Ideal run rate
  • # Production capacity
  • # Unused production capacity
  • # Work in progress
  • # Production lead time
  • % Downtime due to operator lack of training
  • % Unplanned downtime in production

Production Timeline – indicates all the time-related aspects of the production process.

  • % Production schedule attainment
  • % Production schedule adherence
  • % Production uptime
  • # Unit production time

Inventory – describes the amount of products on stock either from returns or demand, excluding the safety stock.

  • % Recovery yield rate of returned products
  • # Working stock
  • $ Work in progress
  • % Production delays due to raw material shortage
  • # Decoupling stock
  • % Boomerang return rate
  • # Frequency of production delays due to inventory shortages or supply delays

Maintenance – monitors the upkeep of the production plant and equipment.

  • # Production plants
  • % Machine utilization in production

Production Costs – refers to expenses implied by the production processes.

  • $ Penalties cost due to unsatisfied demand
  • $ Production costs per unit
  • $ Direct material variance

Read more about each of the KPI in “The Top 25 Production KPIs – 2020 Extended Edition.”  You can also sign up for the live online course offered by The KPI Institute to learn how to implement a KPI Measurement Framework in your organization.

For inquiries, get in touch with Cristina Mihăiloaie, Business Unit Manager – Research Division: cristina.mihailoaie@kpiinstitute.com, +61 (390) 282 223 or +40 (749) 424 517.

certified kpi

Certified KPI Professional and Practitioner in Riyadh, June Edition

July 4th, 2019 Posted by Events 0 thoughts on “Certified KPI Professional and Practitioner in Riyadh, June Edition”

Between the 16th – 20th of June, 2019, Alina Miertoiu, Senior Consultant for The KPI Institute, facilitated the Certified KPI Professional and Practitioner customized training course in Riyadh, Saudi Arabia, for one of the biggest medical services providers in the area.

certified kpi

All the participants who joined the learning experience were part of the Laboratory, but they came from different divisions, such as Toxicology, Blood Bank, Clinical Chemistry, Molecular Genetics, Hematology or Immunology.

Among the main expectations from the course, participants listed:

Course journal

Even though there is a lot of information on KPIs and a lot of resources, the is still a lack of complete understanding on the matter, with many bad practices implemented and hardwired into organizations.

The C-KPIPP course is designed to provide the attendee with both theoretical and practical knowledge on the performance management architecture, focused most specifically on the performance measurement component.

Day I

During the first day, attendees were introduced to several concepts and tools related to KPIs and a robust Performance Management system, comparing them with the current performance management system implemented within the Lab. The benefits of such a system and types of KPIs were also discussed.

It was the most theoretical part of the course, although each topic was complemented by exercises. Overall, the group was very involved and interested in the topic, so we had a lot of open discussions and many, many questions.

Day II

One of the most challenging and practical days of the course, the second day focuses on KPI selection and alignment. Understanding the process, tools and techniques used for setting correct KPIs and the alignment approaches was the main objective of the day.

All of the attendees worked in groups and we started to integrate their examples into the exercise, in order to make it easier to grasp the theory.

Day III

During the third day, we had several exercises concerning KPI Documentation, Target-Setting and Data collection and Visualization, with the main learning tool used being debriefing.

Participants found the target-setting session extremely relevant, which was also a main topic they wanted to address, as well as data visualization.

Day IV and V

The last two days, which were part of the Certified KPI Practitioner course, were focused only on exercises, designed to make the knowledge acquired in the first 3 days stick and help participants become more accustomed to the tools and techniques learnt up to that point.

The exercises were customized for their organizational context and had as a starting point their current Objectives and KPIs.

The course blended in tools, templates, case studies and stimulating exercises in order to ensure a smooth learning experience. Participants acknowledged that the course changed their view on performance management and are committed to updating their current framework.

Sign-ups and registration!

As performance is a constant preoccupation, we would be more than happy to assist you throughout your performance journey!

If you enjoyed reading our course journal and feel that this learning environment would be suitable for your needs, why not visit our training calendar and check what best suits your learning needs?

If you’re someone that does not have a lot of time on their hands, to go to a course in person, we also have online training courses that align well with Performance Management topics:

Otherwise, if the opportunity of customized training courses is of interest to you or you’d like to know more information, contact Alina Miertoiu directly, at alina.miertoiu@kpiinstitute.com.

performance management

Certified Performance Management Professional in Kuala Lumpur

April 1st, 2019 Posted by Events 0 thoughts on “Certified Performance Management Professional in Kuala Lumpur”

Between the 18th – 20th of March 2019, Raluca Vintila, Management Consultant for The KPI Institute, hosted the Certified Performance Management Professional (C-PM) 3-day training course in Kuala Lumpur.

performance management

Participants from various industries, such as Mechanical & Industrial Engineering, Education Management, and Information Technology and Services have joined us for this learning experience.

Attendees were invited to express their learning needs and expectations from the course:

  • Understanding what is a Performance Management System (PMS) based on KPIs and how to design it
  • How to manage performance across organizational levels in an aligned manner
  • How to bring KPIs from the strategic to the lower managerial levels
  • How to improve and enhance the Organizational Strategy through the PMS
  • Understanding how to address and cover performance gaps, in a formal and structured manner
  • How to measure staff performance and team performance
  • What types of rewards and recognition systems are recommended to connect to a PMS

Course journal

The C-PM training course provides the pillars, tools, and resources required for the effective implementation of the Performance Management Framework. In the first 2 days of the training course, we focused on the 6 pillars that need to be applied to ensure performance improvement, starting from data analysis and reporting, continuing with decision-making and initiative management, and ending with learning and building a performance culture.

Day I

Generally speaking, the most appreciated part of Day 1 was the exercise that highlights the differences between 13 performance-related concepts, ranging from vision and mission to KPIs, targets, and tasks. Participants found extremely relevant the tools that support the implementation of the Performance Management System, starting from the Desired State of Evolution and Strategy Map, to the Portfolio of Initiatives and Initiative Documentation Form.

Day II

The most engaging learning experience of Day 2 was the Performance Review Meeting, where participants took on different roles, such as Performance Manager, CEO and KPI owner. Besides having fun, the attendees understood how important it is to make decisions based on performance data and to have a rigorous preparation prior to the meeting.

Day III

These six pillars discovered in the first 2 days were applied on the 3rd day, in 12 scenarios, starting from different levels across the company, all the way to diverse capabilities and different stakeholders. All the learning has been integrated into a final simulation, which ended up being extremely dynamic for the participants as they simulated the process of airplane production.

To ensure a smooth learning experience, the training course blended in toolkits, templates, case studies, and best practices examples from some of the most successful organizations worldwide, as well as thought-provoking exercises.

Sign-ups and registration!

As performance is a constant preoccupation, we would be more than happy to assist you throughout your performance journey!

If you enjoyed reading our course journal and feel that this learning environment would be suitable for your needs, why not visit our training calendar and check what best suits your learning needs?

If you’re someone that does not have a lot of time on their hands, to go to a course in person, we also have online training courses that align well with Performance Management topics:

Otherwise, if the opportunity of customized training courses is of interest to you or you’d like to know more information, contact Raluca Vintila directly, at raluca.vintila@kpiinstitute.com

Benchmarking Essentials – Free webinar by The KPI Institute

September 25th, 2014 Posted by E-learning 0 thoughts on “Benchmarking Essentials – Free webinar by The KPI Institute”

The KPI Institute, the global authority in Key Performance Indicators (KPIs) research and education now offers weekly webinars that provide the information and best practices needed to understand the performance management architecture, overcome challenges and attain performance excellence, while following the process sequence.

The forth webinar from this series focuses on the benchmarking study process.

Benchmarking-Essentials

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Workshop Presentation: Key Performance Indicators

April 16th, 2014 Posted by Events 0 thoughts on “Workshop Presentation: Key Performance Indicators”

Adrian Brudan, Director of Research Programs at The KPI Institute, delivered a one day workshop as part of the Strategy Leaders Forum, which took place in Dubai, United Arab Emirates, on the 13th – 17th of April 2014.

As data based decision making is at the core of better management practices today, tools such as Key Performance Indicators and Key Risk Indicators assist with the provision of critical business data for decision making. This workshop explored the relationship between metrics, KPIs and KRIs and how they can be deployed in practice. It also presented the fundamental techniques for KPI selection that ensure a rigorous process and quality result. Practical exercises were combined with best practice examples from a variety of industries and functional areas.

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New smartkpis.com report: KPIs for Restaurant Scorecard

March 12th, 2014 Posted by Research 0 thoughts on “New smartkpis.com report: KPIs for Restaurant Scorecard”

restaurant scorecard

March 12, 2014, Melbourne, Australia – The KPI Institute, the global authority on Key Performance Indicators (KPIs) research and education announces the launch of a new report, KPIs for Restaurant Scorecard. The publication is based on research conducted through www.smartKPIs.com, which contains over 20,000 Key Performance Indicator examples, making it the world’s largest source of thoroughly documented KPIs.

Restaurant activities include the provision of complete meals or drinks fit for immediate consumption, in traditional restaurants, self-service or take-away restaurants, whether as permanent or temporary stands, with or without seating. Also, it can include the service of food and beverage to a group as part of an organized event, where services occur to all guests within a specific time frame. Restaurants vary greatly in appearance and offerings, including a wide variety of the main chef’s cuisines and service models.

The KPIs for Restaurant Scorecard report is a comprehensive collection of 25 KPIs considered by the smartKPIs.com team as the most relevant and adequate to populate the Restaurant Scorecard. Each KPI is documented based on the best practice KPI documentation template proprietary to smartKPIs.com and available in the smartKPIs Premium section of the website. There are over 30 fields of metadata specific to each KPI, from KPI name to definition, subordinate measures, and calculation formula, among others.

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New smartkpis.com report: KPIs for Restaurant Dashboard

March 12th, 2014 Posted by Research 0 thoughts on “New smartkpis.com report: KPIs for Restaurant Dashboard”

restaurant dashboard

March 12, 2014, Melbourne, Australia – The KPI Institute, the global authority on Key Performance Indicators (KPIs) research and education announces the launch of a new report, KPIs for Restaurant Dashboard. The publication is based on research conducted through www.smartKPIs.com, which contains over 20,000 Key Performance Indicator examples, making it the world’s largest source of thoroughly documented KPIs.

Restaurant activities include the provision of complete meals or drinks fit for immediate consumption, in traditional restaurants, self-service or take-away restaurants, whether as permanent or temporary stands, with or without seating. Also, it can include the service of food and beverage to a group as part of an organized event, where services occur to all guests within a specific time frame. Restaurants vary greatly in appearance and offerings, including a wide variety of the main chef’s cuisines and service models.

The KPIs for Restaurant Dashboard report is a comprehensive collection of 30 KPIs considered by the smartKPIs.com team as the most relevant and adequate to populate the Restaurant Dashboard. Each KPI is documented based on the best practice KPI documentation template proprietary to smartKPIs.com and available in the smartKPIs Premium section of the website. There are over 30 fields of metadata specific to each KPI, from KPI name to definition, subordinate measures, and calculation formula, among others.

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New smartkpis.com report: KPIs for Recruitment Agency Scorecard

March 12th, 2014 Posted by Research 0 thoughts on “New smartkpis.com report: KPIs for Recruitment Agency Scorecard”

kpis recruitment agency scorecard

March 12, 2014, Melbourne, Australia – The KPI Institute, the global authority on Key Performance Indicators (KPIs) research and education announces the launch of a new report, KPIs for Recruitment Agency Scorecard. The publication is based on research conducted through www.smartKPIs.com, which contains over 20,000 Key Performance Indicator examples, making it the world’s largest source of thoroughly documented KPIs.

Recruitment and employment activities include the search and placement of permanent or temporary staff. Clients can be both organizations that have outsourced these human resources processes, integrally or for specific vacancies, and individuals in search for a job. KPIs focus on both process efficiency (planning, interviewing, selecting, hiring) and suitability with the client’s needs.

The KPIs for Recruitment Agency Scorecard report is a comprehensive collection of 28 KPIs considered by the smartKPIs.com team as the most relevant and adequate to populate the Recruitment Agency Scorecard. Each KPI is documented based on the best practice KPI documentation template proprietary to smartKPIs.com and available in the smartKPIs Premium section of the website. There are over 30 fields of metadata specific to each KPI, from KPI name to definition, subordinate measures, and calculation formula, among others.

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