Small Business Employee Productivity KPIs
To measure a company’s capacity to work and compatibility, employee productivity is an important part.
As employees are the working figure for a company, we need to keep track of our employees productivity. Pointing out employee capability and effectiveness we should measure the productivity KPIs for maintaining a perfect balance to the stability of growth and investment.
Let’s observe the proper methods that should be applied to measure Employee Productivity KPIs.
1. Customer Satisfaction KPIs:
The key metrics that our service team should apply to provide and produce the best service experience for customers. The points mentioned below are the most important part that should be considered:
a) Meeting Service Level Agreements.
b) The number of client issues resolved.
c) Order accuracy.
e) Abandon rate.
f) Call pickup time.
g) Net Promoter Score.
h) Customer Satisfaction.
2. Customer Satisfaction KPIs:
For achieving the best result, we should meet the parameter which our teams should focus on performing close deals. Some points are mentioned below as to be followed:
a) The number of customers.
b) The number of calls made.
c) Trade Shows attended.
d) Numbers of blogs written.
e) Number of social media posts
f) Contacts made from networking
g) Deals closed.
3. Quantitative KPIs to Measure Productivity:
In terms of manufacturing a product, we need to have a measurement of input and output variables for producing a product.
This will guide us to ensure quality work at minimum time. The measurement criteria are as mentioned below:
a) Raw materials.
b) Operating rates. (Based on quality management at minimum time. Because slow rate drops profit, where faster speed lacks quality. That’s why it is important to maintain the speed constant.)
c) Measuring output.
d) The number of parts produced.
f) Overall Equipment Effectiveness.
g) Reject ratio.
4. Financial KPIs:
To ensure the good financial health of a company, we should always keep monitoring Financial KPIs. The key things should be monitored are listed below:
c) Gross margin.
e) Quick Ratio.
f) Team effectiveness ratio. (This measurement shows how much investment you get back as profit. It also enables us to move towards smart workers, not long workers. )
5. Business Operation KPIs to Measure Levels of Productivity:
To ensure our business operating at our best, we should apply these financial metrics as mentioned below:
b) Labor Utilization.
c) Labor Materials.
d) Operating Margins.
e) Processes and Procedures developed.
f) Cash Flow.
g) Employee Turnover Rate.
h) Customer Lifetime Value.
i) Priorities and Quarterly works Completed.
j) Number of Action List completed/overdue
6. Recruiting conversion rate:
As employees are our main hand for establishing the growth chart and produce profits for our company, we should measure up the recruiting conversion level as well as effectiveness.
By considering how many employees are being recruited and how many of them are becoming an asset to our company.
Overall, for pursuing healthy financial benefits and effective workflow this measurement should be done at every startup and small business.
To Conclude, employee productivity is the key element to ensure and maintain a company’s growth and development.
For building a long term relationship with clients and pin down the profits these methods should be used to observe.
These methods may bring down some important needs of improvements into our strategy and will enable us to cope with various obstacles in our path of growth. This article can be a guideline for us to achieve great success at every workspace for good financial profit and development.