A Key Performance Indicator (KPI) is a measurable value that tracks a company's progress toward its key business objectives. KPIs help evaluate success in achieving specific goals. High-level KPIs focus on overall business performance, while lower-level KPIs track departmental processes like sales, marketing, HR, or customer support.
The following are examples of KPIs across various departments:
Generate 200 New Leads (Sales and Marketing department)
Reduce Operating Expenses by 5% (Finance department)
Decrease Time to Hire by 5 Days (HR department)
While KPIs can track the results of repetitive tasks, they offer a broader scope. They provide insights into various aspects of your business, allowing you to measure effectiveness and identify areas for improvement.
Create KPIs
Create KPIs
To create a KPI, follow these steps:
Navigate to Performance > KPIs.
In the top right corner, click New KPI
In the New KPI dialog, fill out the following fields:
Title: Clear, concise, and meaningful description of the KPI.
Owner: The person responsible for the KPI.
Type: KPI type (individual, department, location, division, company-wide).
Unit: The measurement unit for the KPI (percentage, number, or currency).
4. Click Save.
You can also create a KPI in the Performance tab of the employee, who will own this KPI.
Set target values for KPI
Set target values for KPI
Target values define the desired monthly progress for each KPI. Target values are typically set once a month.
To set target values for the specified month, follow these steps:
Go to Performance > KPIs.
Select a KPI from the list.
Click the + sign below the month that you want to set the target value for.
Enter the target value for that month.
Click Save.
On the KPI progress chart, target values are displayed as a dotted grey line, while actual progress is shown as a blue line.
Track KPIs
Track KPIs
Here are several ways to view KPIs:
In the KPIs section: Go to Performance > KPIs. Here you can see all KPIs across the organization. You can filter KPIs by type and owner.
Each monthly KPI cell must have two values:
The upper value is the expected KPI value for the specified month.
The lower value is the actual KPI value for the specified month.
When the value is met, the cell is highlighted in green. Otherwise, the cell is highlighted in yellow.
In the employee profile: View an employee's KPIs under the Performance tab in their profile. Click the KPI to see detailed information.