Executive Summery

Key performance indicators help both the business as well as the employee in many ways.

These indicators ensure that the business functions in the expected manner. Gaining new skills and knowledge by training. Best decisions are taken for the employees which allows the employee to grow. Maximum productivity can be attained by onboarding programs. Enhances the chances of promotion if KPI promoter score is well observed and increased. Increases effectively of the organisation. Helps establish relationship with the customers and increase revenue. Ensures that the organisation works in the direction of its mission while keeping in view the vision of the organisation. Helps in keeping a track of all the functions of management, namely, marketing, finance, human resource, operation. Helps in solving problems of the firm by and taking corrective actions where and when necessary. Helps in creating trust and motivating the employees which results an overall satisfied workforce of the organization. It enables saving costs and minimises the expenditure of the firm.

Imortance of Key Performance Indicators for Employee Training Programs

Key Performance indicators are the indicators used to measure the performance of an organisation to achieve the business objectives. They are useful for evaluating the level of success of an organisation.

Some key performance indicators of an organisation are job role competency rate, training class attendance rate customer lifetime value, customer satisfaction and retention, cost, profit, employee turnover rate, retirement rate, etc.

The importance of key performance indicators for employee training programs are given below:-

1. Key performance indicators help the employee in gaining new skills and knowledge by giving training to the employees in the training programs. -

The key performance indicator for employee training programs helps to delivery the performance metrics for an individual organisation. It enables to; Identify the organization goals, determine the costs vs benefits of the gain, and determine the justification for the continuously training.

Training program's outcomes can be measured systematic and quantitative terms;

1. Costs

2. Results

The standard formula for the training ROI(in %)=((Monetary Benefits -Traning cost)/Training cost )*100

Impact of the employee training programme can be assessed through Kirkpatrick's model,

• Evaluation of result (transfer or impact on society )
• Evaluation of behaviour (Transfer of learning to the workplace)
• Evaluation of learning (Knowledge or skills required)
• Evaluation of reaction (Satisfaction or happiness)

2. Key performance indicators provide techniques for the successful decision-making process by the employees' performance.

Key performance indicators help to make business improvement through the building the operation around the data-driven decision making. Decision-making ability comes from the involves the programmers and developers to select the business intelligence (BI) tools and deliver the performance metrics.

Culture to create for KPIs monitoring and reporting can align the technology decision with business goals.

3. KPIs enable new employees to reach full productivity with the help of onboarding programs.

Onboarding program for the new employee is the foundation of employee experience KPI helps to understand how the organization or department is performing. The best KPI should act as a compass helps to understand he/she is taking the right path toward the strategic goals.

The effectiveness of onboarding program through KPIs can be measure in 4 ways :

• By tracking the voluntary and non-voluntary turnover
• By tracking employee happiness
• by tracking new employee's hiring satisfaction
• BY monitoring who is leaving the company

According to an article in Training Industry Quarterly takes at least 1-2 years before an employee is fully productive.

4. Effective training programs help in achieving good corporate culture.

The effective training program is the best tools to improve the company culture and cultivate the high-performance workforce. Is a direct positive effect on staff retention for any level of employee

there are following advantages help company culture through effective training programs:

• Sets the employee expectations
• Encourage the positive learning environment
• Boost up the team morale
• Reduction in staff turnover rates

Overall training programs help to understand the role in the business and know how to add more value add and become fully productive.

5. KPIs is important for increasing the overall productivity and effectiveness of the organisation.

Yes, KPIs are very beneficial to increasing the overall productivity and effectiveness of the organization due to the following reasons;

• KPIs strengthen employee morale
• KPIs support and influence the business objectives
• KPIs foster personal growth
• KPIs are critical for performance management

The employees contribute to improve the organizational effectiveness and to become fully productive due to KPIs characteristic:The characteristics of KPIs are:

• Quantitative: It presented in form of numbers
• Practical; It integrates well with present company process
• Directional: It helps to determine a company better or not
• Actionable: It can be put into practice to effect desired change

6. KPIs gave many opportunities to increase the employee net promoter score.

Employee net promoter score is an informative way to measure and improve employees loyalty and engagement. KPI determines the meaningful strategy of the company which provide the satisfaction and contribution towards the organisations .Net promoter score is a key performance indicator which focuses on measuring customer loyalty.KPIs correlate between the NPS and growth of the business that can be used to improves the performance of the organization.

7. Training of employees enables to increase sale volume and effective customer service.

Driving interactive training helps to increase sales by analysing the sale force's current ability to sell the products. It can offer the salespeople the skills knowledge, tools and confidence to improve efficiency and productivity which results from an increase in sales volume The benefits of training :

• Improvement of productivity
• Enhance sales skills
• Improvement in soft skills
• building confidence
• Highly motivated

The training programs enable the employee to provide effective customer services the three basic types of skills which need to provide in training

• Product knowledge
• Soft skills - Active listening, clear communication, positive language, persuasion, empathy
• Company mission and value

Benefits of Key Performance Indicators for Organization

Benefits of Key performance indicators for organisation are given below:-

1. Key performance indicators help in setting the goals and targets of the organisation by giving understandable information, and it also enable everyone in the organisation to move in the same direction:-

This is considered as the main indicator which influencing KPI. Firstly management should set the goals of the the organisation and need to provide clear information regarding the objectives with entire employees, Then only complete employees can work towards achieving the goals set.

2. KPIs help in measuring and calculating the activities of the organisation which includes marketing, finance, human resource management, etc.:-

KPI will help the management to checking the calculating the the entire activities in the organisation which included Marketing, Finance and Human resource. For Eg, KPI help marketing to check the leads, Sales Development. In Finance it will help in Budget Preparation, Actual expense, Tax Etc. In HRM, it will help in calculating training expense, optimum utilisation of manpower, New Hire etc.

3. KPIs can help in resolving the issues of the organisation such as labour issues, financial issues, customers issues, etc. and take corrective actions to solve these problems:-

KPI also able to resolve labour issues through communication with the employees and also they required to get appreciate for the job. Through continuous monitoring management can check the profit and loss of the company then management can solve financial issues and can also solve customer issues through service calls and through response on time also.

4. KPIs help in increasing the morale of the employees because KPIs give many incentive plans that empowers the employees to improve the performance:-

Sure, KPI can surely increase the morale of the employees by incentives plan and continuous communication with employees.

5. KPIs help to control the costs as KPIs recognise cost saving prospects related to the organisational activities:-

We can definitely control the cost through KPI related to organisational activities. Through KPI management can check whether they have achieved their goal or not.

Overall, Key performance indicators plays an important role in measuring and analysing the overall success factors of the organisation.

#Make Findings and Conclusion