The Secrets of Setting KPIs in 2024!

Hello and?Welcome?to 2024's 1st?edition?of Unlock HR with the #DSouzaSisters!!

Setting employee KPIs in any business is crucial to ensure that everyone is working towards the same goals and objectives.?

KPI's provides a clear understanding of what is expected to drive results across the entire team.

So, what are the main steps to follow??

1. Set Your Business Objectives

Before building KPI’s, you must clearly define your overall goals and business objectives. What is that you want to achieve? Employee KPIs must always be aligned to overall business objectives.?

2. Identify Key Metrics

Next, identify metrics that will help you track progress towards those objectives. For instance, if your goal is to increase sales, your key metric might be ‘$$ Revenue per month.?

3. Set Clear Targets

Once you have identified your key metrics, you need to set targets. This can be monthly, quarterly, annually etc. You must ensure that these targets are specific and measurable. eg. 5 new clients per month or $100,000 monthly revenue.?

4. Communicate-Communicate-Communicate

Communicate the KPIs to each employee and explain why they are important. Ensure that each employee understands how their KPIs contribute to the overall success of the business.?

5. Monitor Progress

Regularly monitor the progress of each employee towards their KPIs. If employees are off-track, these periodic reviews?will allow you to identify issues and provide support where necessary.?

6. Provide Feedback

Provide regular feedback to employees on their progress towards their KPIs. This will help them to stay motivated and make any necessary adjustments to their performance.?

7. Review and Adjust

Regularly review the KPIs and adjust them as necessary. This will ensure that they remain relevant and aligned with the business objectives.

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Aim to complete setting KPI's by the end of January so you and your team can work together to smash those goals by the end of the year.

If you require assistance or HR services throughout this process, please do not hesitate to contact us.

We're here to help you and your business thrive!

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