What Does 'Key Performance Indicators' Mean?

Category: Glossary, Type: Career

The Meaing of Key Performance Indicators

The organization's key performance indicators used in process of measuring the achievement of its objectives. These indicators are used in numerous areas, mainly in human resource management. KPIs support the achievement of company's operational and strategic goals. They are fundamental to building a results-oriented organizational culture as they supply employees with goal feedback on their work, costs and quality. KPIs are also a tool of managerial control: they enable fast decision-making, prioritizing actions, early response to problems, plus supporting continual improvement processes and effective utilize of company's resources. So far, numerous indicators have been worked out,

- Working Time Efficiency Index
- employee turnover rate
- employee satisfaction level
- absenteeism rate
- number of training hours per employee per year
- the average period of recruitment process 'filling a job position in company' in days.

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Category: Glossary, Type: Career