KPI explanation
Write a brief description of the KPI here – e.g. every product to be manufactured in less than 3 hours ( Agency needs to settle 100 files per month at a maximum of 20%discount on fees)
Relevance of the KPI
Why the KPI is important to the success of the business – e.g. manufacturing the product faster gives us more stock to sell and more market share (this number of settled files gives the business a net return on Investment of 18-20%)
Does this KPI affect any part of the business?
Explain other KPIs important to the business that this KPI may affect – e.g. may affect delivery speed, customer satisfaction, and product quality (each conveyancer has to settle a minimum of xxxx files. Above this number a bonus reserve is set aside to meet unmet KPI’S over a 12 month period.)
How to measure the KPI
Explain how you measure the success or failure of this KPI – e.g. this KPI is successful when the product is produced within the allocated time but to the right quality standard. KPI is not met when the product is produced too slowly, or to an unsatisfactory standard.