Metrics and KPIs: use them to boost your growth!
Each company has its own way of implementing some metrics and should ideally follow a continuous improvement approach to drive its business. Gathering tons of data without using it is a waste as it could lead to useful information and substantial improvements. A few metrics and KPIs should be analyzed in regular intervals. Here a few advices.
Metrics and growth aren’t to be separated
Once the initial stages of growth is achieved and a certain volume of sales has been reached, firms are naturally willing to structure themselves better in order to achieve their goals. Metrics and KPIs are going to play a key role then. As all sorts of indicators can be set up, it will be important to focus only on a few and relevant ones which should match with the goals set to the team or the company.
For a recruiting team in an engineering company, essential metrics and KPIs could be the ‘Time-to-hire’, ‘Cost-per-hire’ or even the number of interviews realized, whereas business managers will probably be more interested towards their sales activities and technical meetings arranged with clients. Every metric should follow a dual-purpose: measuring performances and being a source of progress for the teams.
Value your KPIs
Metrics should be used for decision-making. A quantitative analysis needs to be followed by a qualitative analysis in order to evaluate the productivity. If a junior business manager organizes numerous technical meetings with a client but doesn’t win any project, the reason for the bad ratio needs to be identified: is the pricing properly adapted? Does the meeting lack preparation? How good is the relationship with the client? Hence, a senior manager could take measures and attend these meetings with his junior manager.
By crossing the performance data on a regular basis, bonus criteria for the teams can be made. These elements about teams’ overall productivity will then become a growth accelerator.
Metrics with Unatrix
The Unatrix platform focuses on the operations level for both recruiters and managers. By covering a broad spectrum of their day-to-day activities, Unatrix allows them to view their performances in real-time. Moreover, key metrics can rapidly be extracted by senior managers in order to create individual dashboards.
There can be numerous useful metrics and KPIs for any business sector. Unatrix has been optimizing the business intelligence insights over 8 years and provides pre-set reports for different purposes. We would be glad to go further into details in an online demo!