The New Age KPI
Deepan Mukherjee
Head of Learning & Development at Marengo Asia Healthcare |??L&D Leader of 2024 in Healthcare ?? | HRAI 40 Under 40 | Keynote Speaker | Art of Living Teacher | IIM LUCKNOW
In today's fast-paced business world, key performance indicators (KPIs) are essential metrics used to measure the success of a company's goals and objectives. Traditionally, KPIs have been focused on financial metrics such as revenue, profit margins, and market share.
However, as businesses evolve, it is becoming increasingly clear that traditional KPIs may not be enough to fully capture the nuances of success in the modern era.
Enter the new KPI: Keeping People Informed, Involved, Interested, and Inspired.
This innovative approach to performance measurement centers around the idea that the success of a company is directly tied to the engagement and motivation of its people. By focusing on these four key areas, companies can ensure that their employees are informed, involved, interested, and inspired to contribute their best work.
Keeping People Informed
One of the most critical elements of the new KPI is keeping people informed. This means providing regular updates on the company's goals and objectives, as well as its progress toward achieving them. By keeping employees in the loop, they can better understand the company's overall direction and its role in helping to achieve its objectives. Communication is key in this regard, and companies that prioritize transparency and open dialogue will be more successful in keeping their people informed.
Keeping People Involved
Another critical element of the new KPI is keeping people involved. This means ensuring that employees feel like they are an essential part of the company's success. This can be accomplished in several ways, including empowering employees to make decisions, involving them in strategic planning, and providing opportunities for professional development. By involving employees in key decision-making processes, companies can ensure that their perspectives are taken into account and that they are invested in the company's success.
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Keeping People Interested
In addition to being informed and involved, it is crucial to keep people interested in the company's goals and objectives. This means creating a culture that values innovation, creativity, and continuous improvement. Employees who are interested in their work are more likely to be engaged, motivated, and committed to the company's success. Companies can foster this interest by providing challenging work assignments, recognizing and rewarding achievements, and promoting a culture of learning and growth.
Keeping People Inspired
Finally, the new KPI focuses on keeping people inspired. This means creating an environment that fosters a sense of purpose and meaning in the work that employees do. Inspired employees are more likely to go above and beyond to contribute to the company's success, and they are more likely to stay with the company for the long term. To inspire employees, companies can create a compelling vision for the future, promote a strong sense of teamwork and collaboration, and recognize and celebrate the impact that employees have on the company's success.
In conclusion, the new KPI of Keeping People Informed, Involved, Interested, and Inspired is an innovative approach to measuring the success of a company's goals and objectives. By focusing on these four key areas, companies can ensure that their employees are engaged, motivated, and committed to the company's success. As businesses continue to evolve, the new KPI will become increasingly critical to achieving long-term success in a rapidly changing business landscape.
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Best-Selling Author | Leadership & Management Expert | Performance Management Specialist | Professor & Level 5 Leadership Coach | Influencer | Founder of The Management School | President and founder of RHS Consulting |
1 年If you liked this post , you'll love my new book! You can take a look at "KPIs - A New Approach* on the following link: https://www.amazon.com/dp/2958776514/ref=tsm_1_fb_lk
Deepan Mukherjee Thank you for sharing your ideas and opening up the discussion for feedback. We look forward to hearing more on this topic.
LinkedIn Top Voice | ?? Leadership & Management Coach | ?? Expert Performance Consultant | ?? Specialist in Training Effectiveness (ROI in Training) Driving Excellence | Ensuring Measurable Impact
1 年Interesting thoughts Deepan Mukherjee My Take The purpose of KRAs and KPIs is to bring clarity about goals and objectives, How the objectives will be measured. The KPIs and KRAs are part of a Performance management system. It is a management responsibility and the job of people leaders how they operationalize the PMS. Tools do not inspire, people do. Tools help in the skill set, Mindset shift is the job of a leader.