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Before HR metrics, many of the HR activities and processes were difficult to quantify, making it hard to fully understand the real employee costs associated with each HR functions. For example, “a decade ago, if someone looked for turnover rate by performance category, it could be a two-week project.”
Most workers want to know how they are doing on the job. Workers need performance feedback to work effectively. Accessing an employee timely, accurate, constructive feedback is key to effective performance. [2] Motivational strategies such as goal setting depend upon regular performance updates.
Performance measurement is the process of collecting, analyzing and/or reporting information regarding the performance of an individual, group, organization, system or component. [dubious – discuss] [1] Definitions of performance measurement tend to be predicated upon an assumption about why the performance is being measured. [2]
A performance indicator or key performance indicator (KPI) is a type of performance measurement. [1] KPIs evaluate the success of an organization or of a particular activity (such as projects, programs, products and other initiatives) in which it engages. [ 2 ]
Performance metrics and Key Performance Indicators (KPIs) are widely used tools in the context of workplace productivity assessment. These quantitative and qualitative measures serve as benchmarks for evaluating employee and organizational performance. They enable businesses to gauge the effectiveness of their processes and the attainment of ...
Business performance management (BPM) (also known as corporate performance management (CPM) [2] enterprise performance management (EPM), [3] [4] organizational performance management, or performance management) is a management approach which encompasses a set of processes and analytical tools to ensure that an organization's activities and output are aligned with its goals.
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