KPIs are used to measure and assess the performance of a business, in relation to the key goals and objectives. Fundamental to a businesses success, KPIs are most commonly set for specific company objectives, however they can also be used as an important tool to help individuals focus on their own goals and measure their personal performance.
To ensure that personal KPIs are going to be effective, it’s crucial to consider the following questions in relation to your goals:
What is the goal you want to achieve?
Why is the outcome important?
How long will it take you to reach your goal?
How will you measure your progress?
How will you know if/when you’ve reached your goal?
Once you have decided on your goals, applying the SMART technique to your KPIs will help ensure that they have the best chance of being effective. One important factor to keep in mind is to make sure the KPIs you set are directly linked to your goal. For example, if your goal is to save £500 per month, it won’t provide much value to measure the number of social events you decide to not attend, rather it would be more beneficial to measure the weekly cost of utility bills, the weekly cost of groceries, the weekly amount of money lodged into your bank account etc.
Having personal KPIs helps you identify your goal and develop a plan to achieve it. By implementing actionable, measurable and time bound steps, you will on the road to success. Use the handy infographic below to keep you on the right track when setting your own goals and measuring performance towards them.
Track and visualise your KPIs in real-time with Hurree. Book a free trial today and discover how to truly harness the power of analytics and transform your company reporting using cross-platform dashboards. If you have any questions then feel free to reach out to firstname.lastname@example.org, we'd be happy to answer them!