A key performance indicator or KPI, is a management tool which allows an organisation to see at a glance, metrics which will show how well the business is doing in specific areas. A KPI is an objective measure; it is based on fact, not estimates or assumptions.
Why have KPIs?
KPIs provide factual measures of performance and can be linked to team objectives. They can increase focus, ownership and responsibility, allowing individual performance to be measured against clear targets. Most of us respond well to visuals, which can increase team awareness and staff engagement. Ultimately it allows robust performance dialogue, improving communication, reducing the need for multiple meetings and can identify issues before they impact the business.
KPIs should be:
- balanced across a number of categories to ensure the focus supports business strategy
- simple and manageable
- capable of driving action and behaviours
- sourced from reliable and consistently agreed data
- S.M.A.R.T
- aggregate up from individual objectives and cascade down from business strategy
- ADDING VALUE!
What place do KPIs have in mental wellbeing?
One the categories of KPIs in your business should be people. Mental wellbeing should be tracked within this category, with metrics aimed at eliminating or reducing the risk of mental illness caused by stress in the workplace.
Here are some ideas as to what KPIs may work in relation to positive workplace mental health:
- Team engagement/satisfaction barometer
- Capability and role requirements
- People development
- Attrition rates, absenteeism and presenteeism
- Overtime
