. . . insights from my new book Ingaging Leadership
There is so much power in the ongoing, simple process of identifying and monitoring performance indicators in your business. When you identify and measure them before and after training, you enjoy dramatically better results. That process becomes a key part of measuring the ROI that you are getting for your training time and dollars spent.
Though this process, you become involved in what your employees should focus on, what they need to learn, and what benchmarks they need to achieve. And when they do achieve the levels of improvement you have set as goals, your people will also have the ability to congratulate themselves on success.
Taking a Long View
Ultimately, when you do follow those steps, the bottom line that you care about − your net profits − will improve as a result. But remember, profit itself is not a key performance indicator, it is a result of other activities. Key performance indicators are measures of the activities that will improve your profitability if you handle them well. They could be as simple as the number of new customers you acquire in every quarter or every year, your inventory levels, or even your in-stock levels.
Sample Key Performance Indicators
Here are some sample performance indicators that you might decide to monitor and focus on as part of your training and overall employee development activities:
- Average sale size
- Customer satisfaction rates or Net Promoter Score
- The number of upsells to additional products
- Days from order to delivery
- Increases in average sales ticket
- The percentage of customer issues resolved on the first call
- The rate of repeat customer visits
- Employee ingagement levels
- The closing rates of sales
- The number of new sales leads that you are generating
- The number of sales per employee
Better Planning Equals Better Training ROI
Determining what to measure and what needs to be improved is a key component of great training. To contact a Tortal Training consultant, CLICK HERE.