The best human resource KPIs your business can have

Without people, companies are nothing, and the internal public is one of the most important in organizations, since it is this that makes companies grow and evolve. People Analytics is the process of collecting, organizing and analyzing employee behavior data in order to contribute to decisions made in the company, anticipating trends and adjusting strategies. This term is increasingly important to companies and is expected to grow in importance over the next few years, which means that more and more data on employees exists and there is a need to do something useful with that data. KPIs help us work on information and gain insights for decision making. In today’s article, we present the best human resource KPIs your business can have!

Employee turnover rate

It indicates the number of employees who leave and enter the company, during a certain period. For the company, this index should be as low as possible because it means there is retention of talent. A high index may indicate a low attractiveness of the company in relation to the competition.

Absence

Absenteeism measures employee absence rates and indicates the actual reasons for absences or delays. Absenteeism may be linked to poor working conditions, such as ergonomics in the company or bad environment in the team.

Turnover Costs

In order to calculate this indicator, it’s necessary to include all the expenses with the payment of the contractual terminations and to add all legal and procedural costs. It is also necessary to add the expenses with the replacement of the professional who left, besides the investment in training.

Ratio between extra hours and worked hours

This indicator is linked to the concept of productivity and demonstrates the relationship between the amount of overtime (paid or accumulated in the time bank) and total hours worked. It’s an important indicator for analysing the overload, operational capacity and labor allocation.

Employee satisfaction index

This index is calculated by collecting opinions from employees, who can respond to surveys where they show their satisfaction on a numerical scale. The higher this level, the better the human resources area will be and the greater the motivation of employees to work.

Average cost by employee

This indicator shows us how much it costs, on average, each employee of the company. It is obtained after adding all personnel expenses (salary, food allowance, holiday and Christmas allowances, contributions to the State, among other expenses) and divided by the total number of employees of the company.

Types of analysis to better know the competition

We live in a very competitive world and the area of ​​business doesn’t escape this rule. Thus, it is essential that companies know their competition well, in order to know which tools to use and which strategies to take to win in the market. The social media have facilitated the monitoring of our competition, because it is very easy to know in which products or services are betting and what the reactions of the consumers to these same products and services, for example. In today’s article, we talked about the types of analysis to better understand the competition!

Predictive Analysis

Predictive analytics is an advanced form of Data Analytics that aims to answer the question “what will happen?”. It is a type of analysis that makes predictions through probabilities. This analysis is possible thanks to techniques like regression and progression analysis, pattern matching and various types of statistics. This type of Data Analytics is widely used in stock market and investment companies. It is a very important type of analysis because it allows us to understand the performance of companies in the markets and to anticipate problems and trends.

Diagnostic analysis

Diagnostic analysis will explain us why something happened. This type of analysis will relate all available data and information to find patterns of behavior that may explain the results. It is an important analysis to find problems and above all to avoid repeating them in the future. It allows us to relate our performance to the performance of our competition, which makes it possible to find improvement points and minimize harmful actions for the company image.

Google Alerts

This is a very simple and very easy to tool. If you want to be alerted every time your competition is cited in the Web world, simply monitor the keywords related to the competition. You can always know in which areas your competitors are highlighting and this could be a great way to discover market trends!

Competitive Benchmarking

Benchmarking is an instrument that aims to improve performance in order to position itself ahead of the competition. The process is based on learning from the best experiences of companies operating in the same industry: it is called “learning from the best”. Competitive benchmarking aims to analyze direct competition and focuses on the comparison of products and services, methods, strategies and campaigns used. The objective is to overcome the good performance of the competition by improving the methods used by it.

SocialMention

This tool allows you to follow everything that goes on in blogs, videos and social networks. When searching for a term, be it a keyword or the name of a company, the tool shows you everything that’s being said about that term in blogs and social platforms. Its use is very similar to Google Alerts, but in addition to publishing on websites, it also shows us sharing on social networks and on video platforms, thereby increasing its breadth.

The best tools for an effective decision making

All managers face the daily challenge of making decisions. In such a busy market and where information flows at a very fast pace, it is not always easy to have the right information at the right time, which complicates the decision-making process. It’s essential that managers equip themselves with the appropriate tools to enable them to make objective and assertive decisions. In today’s article, we talk about the best tools for an effective decision making!

Cloud Storage Solutions

Mobility is a growing trend and in many sectors is already an everyday reality. Employees and managers should have easy access to the most important information about the business, because only then will they be able to make effective and timely decisions. Cloud computing has facilitated labor mobility by allowing important business documents to be consulted and edited anywhere. This will contribute for an effective decision making.

Real-time information tool

The day-to-day of a manager is quite busy and it is humanly impossible to keep up with all the situations that happen in the business. It’s very important to have a real-time business monitoring system that allows you to set business alerts so that you are advised whenever any important situation requires immediate intervention. Multipeers is a BAM system that allows you to define business alerts that warn you whenever a situation requires your attention. In this way, you will always be aware of the events of your business and will be able to decide in good time. Many of the decisions are made based on reports a few days late, which makes the company have a reactive and non-proactive action. With Multipeers you can always be ahead of the competition.

KPI’s

The KPIs relate to the previous point. A KPI – performance indicator – is a value that demonstrates whether the company is achieving its primary goals. The company can and should have well-defined KPIs. Likewise, each department and employee must know their KPIs so that they can work towards their goals and help the company grow. “If we doN’t know where we are going any way is good”: in this way, it’s indispensable that each employee knows his role in the company so that he can guide his daily work in order to reach all his objectives. With Multipeers, you can track KPIs in real time.

PDCA Cycle

PDCA is the go to plan, do, check and act. It is a management technique linked to the improvement of a company’s processes. Its purpose is to solve problems, pointing out the causes for potential deviations and productive failures. This process makes the organization of the company more efficient in the long run and it is essential that it be applied from the moment of creation of a business, so that the improvement can be continuous. Based on this tool, it’s possible to make more effective decisions because there is a greater knowledge about the company.

IT management: 4 essential indicators in your company

Having defined KPIs is essential to the good performance of a company. KPIs are key performance indicators that tell us what state the business is in and how far (or near) we are from meeting the stated goals. Based on the indicators and the company’s performance, managers can make more informed decisions. The IT area is one of the most important in any business, as it supports all the activity of the company. In today’s article, we cover 4 essential IT metrics in your business!

Performance of applications

This is one of the most important IT metrics, and for this purpose it is necessary to use constant monitoring tools that evaluate the performance of the applications in the end user’s perspective. Companies increasingly rely on the management of their IT assets to specialised companies that guarantee security, high performance and permanent availability.

Average offline time

This KPI is used to analyse the average time an IT device or infrastructure was not available. It is a metric known as MDT (mean down time). This metric tells us all the time that the service was not available, either because of minor problems, malfunctions, among others. This value is obtained by adding the time the system was not available dividing by the number of occurrences in that period.

Average service time

Another very important metric is the average time that professionals take to respond to requests placed in the service desk. The faster the service and the resolution of the situation, the better the IT performance.

Uptime Index

This is one of the most important IT metrics. It tells us how long IT applications have been available to users, so the longer it is, the better the IT structure performs. It is essential that the company’s technological infrastructures are always available so that productivity rates remain constant.

 

BAM tools such as Multipeers allow you to track KPIs continuously and in real time. Analysing performance consistently ensures that more attention is paid to meeting the objectives, effectively increasing the degree of achievement of the objectives. Continuous performance monitoring plays a key role in planning and subsequent control because it provides information on processes developed by the organization. The effectiveness of any control strategy depends to a large extent on the correct suitability of developed performance metrics and KPIs.

KPI’s sales that every business needs

Defining KPIs is essential to the good performance of a company. KPIs are key performance indicators that tell us what state the business is in and how far (or near) we are from meeting the stated goals. Based on the indicators and the company’s performance, managers can make more informed decisions. The sales area is one of the most important in any business, because it is through sales that companies manage to generate wealth to keep the business running. Each business has its own specifics, but there are KPIs across all areas. In today’s article, we’ll cover the sales KPIs that every business needs!

Speed of sale

Measuring the speed at which a sale is made is an important strategy to evaluate the company’s performance in attracting customers and responding to their expectations. The lower the sales cycle, the greater the effectiveness. Thus, it’s essential to invest in actions that stimulate the customer’s interest and in strategies that accelerate the purchase.

Average value of sale

This indicator is the result of the division of revenue generated by a seller by the number of sales made by the professional in a given period. This indicator is important because it allows to establish a profile for the members of a team and allows people to adapt according to their characteristics.

Churn Rate

The Churn rate indicates the percentage of abandonment of a product or service, meaning the number of customers who have given up on continuing with your business. The higher the churn rate, the lower the company’s chances of growth, as new customers will only serve to replace leaving customers and don’t generate new wealth.

Number of won deals

It’s important to know the number of closed deals in a given period to create realistic goals. A good example of the applicability of this indicator is to compare 2 sellers and check the number of closed deals and the average ticket. There are salespeople who prefer to work better on the lead, spending more time with it, and this lead can have a greater return from that customer.

Customer Recommendation Index

Indicator that shows us the percentage of current customers who arrived at the company due to the recommendation of another customer. To measure it, just ask the new customer how he met the company at the time of the sale. The best advertising for a business will always be word of mouth, so if this rate is too low you need to invest in this area to increase current customer satisfaction.

Follow up rate

Few sales are made on first contact with the prospect. You need to keep in touch with him a few times. This indicator aims to answer the question: how many contacts are needed to make a sale? In this indicator it’s also important to know how many customers close deals in the first three contacts. The answers to these questions will help define a new follow-up strategy.

Defining business indicators in a conscious way is fundamental to being able to analyze the business objectively. It is essential that the indicators analyzed show managers the way forward in order to correct errors and apply new strategies. Multipeers offers you a set of 50 KPIs essential for 360º management of your business. Download our e-book!

How to analyze your business data efficiently

Analyzing the data generated by the companies is very important to be able to follow the evolution of the business. Only with detailed, careful and real-time analysis companies can succeed and be able to keep up with the competition. The information generated by companies is increasing, so the managers find some difficulties in analyzing the data, due to the immense amount of information that they have at their disposal. In today’s article, we leave you important tips for analyzing your business data efficiently!

Use the data to trace customer profiles

It is mandatory to know the profile of the client, their needs, tastes and expectations. We can draw this profile if we are attentive to the signs that he/she leaves in the different channels of communication with the company. In today’s digital world, we all leave clues and everything that the client does on the Internet can be relevant information for the construction of his/her profile, so that the company can offer a personalized service. Your behavior creates statistics, which in turn create consumer behaviors. Through data analysis, we can improve our service for that customer by increasing their connection with the brand.

Make frequent changes to simplify processes

A process is something that the company does on an ongoing basis. As it is something that is repeated over time, it is essential to create norms and routines to improve each process. Automating everything that is possible, eliminating what is unnecessary and standardizing what is repetitive are some of the possible ways to improve business processes.

Take the definition of KPIs very seriously

Companies produce thousands of data in a short time and it becomes impossible to analyze all available indicators. KPIs – key performance indicators – are the indicators of business success and are those indicators that demonstrate to us whether the company is going the right way. It is essential that managers define the most relevant indicators so as to always know if the expected results are being achieved. It is humanly impossible to evaluate all the indicators; it is fundamental that the manager focuses on those who show us exactly what the state of the business is.

Create easy-to-read reports

Data analysis should be done on a constant basis so that decisions are made on the basis of current information. Many companies make weekly reports and when they find the information this already has a few days. Ideally, you should create short, relevant, easy-to-read reports. Multipeers allows you to create simple reports, in which all users perceive information and analysis outputs. This change will positively impact the marketing actions, which will be much more controlled and effective.

Analyzing the data is essential to meet the constant challenges of today’s competitive business world. It is no longer enough to analyze the events after these have happened: it is essential to always be aware of what is happening at each moment. Business monitoring systems such as Multipeers are essential tools in today’s business world because they allow us to analyze the second thing that is happening in the company, allowing you to act immediately without having serious consequences.

 

7 management tips for all businesses

Some management tips are universal regardless of company size. It is important that managers are always aware of market trends and the needs of their customers, so that they can constantly adapt to the reality where they are inserted. In today’s article, we leave you 7 valuable tips to better manage your company!

Get to know the market and your customers

It sounds like a very basic tip and that everyone knows, but the truth is that it is here where many companies fail. It is crucial that companies are well aware of the market they are in, so they will not be surprised by unexpected fluctuations. Likewise, it is imperative that companies know well what the public is communicating and that they know the specifics of their target audience. Only in this way can you create a message that meets the needs of the target.

Always know everything about your business

To understand one hundred percent what you do and to know at every moment the state of the business is essential for it to have good results. A good option to stay abreast of what is happening with your business is to use a real-time monitoring tool such as Multipeers, as you will be able to find all the information about all areas of the company in a single dashboard.

Keep your focus on the Customer

The Customer is the most important of your business and it is up to him to work. Nowadays, consumers are much more demanding than in the past and are more informed, which means that they must make a greater effort to meet all their needs. Maintain communication channels across platforms and be concerned to address all your needs. Only in this way can you gain loyalty.

Set Goals

If you do not know where you are going, any way is good. It is very important to establish goals and work as a team in order to reach them. The objectives must be measurable and realistic, otherwise they will only contribute to demotivating employees.

Invest in internal communication

Internal communication is often neglected, but it is one of the most important areas in a company because it deals with the main public of an organization: its human resources. It is important that there is fluidity in the transmission of messages, as well as transparency in the work environment. It is essential to implement business management channels and / or applications that facilitate communication between the various departments.

Use the PDCA cycle

PDCA means plan, do, check and act. It is a management technique linked to the improvement of a company’s processes. Its purpose is to solve problems, pointing out the causes for potential deviations and productive failures. This process makes the organization of the company more efficient in the long run and it is essential that it be applied from the moment of creation of a business, so that the improvement can be continuous.

Use an ERP

ERP management systems are used to improve the management of business resources and relate the data and processes in one place. Through the use of tools of this type, it is possible to integrate all sectors of the company so that the decision making is easier and more objective. The use of an ERP also allows the reduction of non-strategic costs and the creation of a greater competitive advantage.

 

Find the relationship between dashboards and decision making

Making the right decisions for the business is not an easy task and the decisions that managers make can irreversibly influence the direction of a company. To be able to make the right decisions, managers need to have the best tools available so that they can base their choices on concrete, objective and realistic data. Dashboard is one of the most important tools today, since it allows managers to be always up to date on everything that goes on in the business. In this article, we’ll cover the relationship between dashboards and decision making!

But after all, what is a dashboard?

A dashboard visually displays the most important information about the business. In case of using a tool like Multipeers, the information is updated permanently and automatically, so that you have at your disposal the most current information on everything that happens in the company.

How Dashboard Helps in Decision Making

  • Group information from all company sources

In this field, you cannot to have a dashboard too “full”, that is, with information that is not relevant to your decision making. This will only create visual noise and complicate your analysis. You should create an easy-to-read dashboard with only the data that really matters to you.

  • Constant evaluation of the business

One of the main advantages of using dashboards is that you can constantly analyze the present and past of your business. With a dashboard, it’s easy to analyze company history and find patterns of past behavior that will help you make present-day decisions that do not compromise the future!

  • Always present business objectives

By using a dashboard, you can easily see if your business goals are being met. Linking KPIs with day-to-day activities is essential if individual and global goals are to be achieved more simply.

  • Identify deviations quickly

Managers are not always able to identify deviations in work routines in a timely manner, which compromises business productivity. The dashboard will aggregate the history of the company’s operations and can set defaults to detect deviations and anomalies in real time. Thus, the system is able to perceive that something is not right and to promptly alert it so that it can act before it becomes a serious problem.

How to Monitor Business Processes with BAM Tools

BAM tools like Multipeers are increasingly needed in companies around the world. Business Activity Monitoring enables companies to monitor in an objective and permanent manner all the business processes that are happening in the company. This tool allows monitoring the business processes against the management indicators generated by it. Through a dashboard, managers can get a complete, real-time view of all information relevant to the company’s operation, easily identifying production failures, deviations from established goals, and business opportunities. The information is presented in a graphically clean and interactive way, making the reading and assimilation of information extremely simple. In this article, we’ll talk about how you can monitor business processes with BAM!

The information is provided in real time

The life of your company is happening now. It is critical that you have direct visibility into what is happening at each moment in each area of ​​the organization. BAM tools capture real-time data from different sources of information and present them instantly in the format you choose.

Interactive dashboards for better understanding of information

The information provided by BAM tools comes in a consolidated way so that your query is easier and faster. You can choose to get the information through bar charts, multi-series charts, meters, among many other options. The information can be displayed using the most appropriate presentation, improving the analysis that the user can make of each indicator. In addition, each indicator is fully customizable according to business needs. When using the desktop, in the case of Multipeers, you can also use the ticker tool, which allows you to divulge external or internal news, messages and alerts, thus allowing all employees to be aware of what is important in the organization.

Centralized management for greater efficiency

BAM tools allow you to obtain a solid administration platform that collects data from a variety of sources. Multipeers is highly customizable and allows the distribution of processed information in a variety of ways, such as interactive graphics, widgets, meters, RSS tickers among many others.

Information from multiple sources of data

BAM tools interact directly with all your data sources such as databases, web services, MDX, Microsoft Excel, RSS feeds, multimedia content, email, applications, among others. You can even build your own connectors using the provided API so that no information from your organization is lost.

No need for clicks

BAM tools update permanently and automatically, so there is no need for any user intervention. Instead of being the user to meet the information, it is the information that the user finds autonomously.

The most important IT metrics for your business

The KPI’s are used to facilitate the identification of problems and to realize in what state of the fulfillment of the objectives the company is. When they are well used, they have a great impact on the results of the business. In the area of ​​IT, it is very important to use appropriate metrics so that managers in this area can improve the performance of the infrastructures that support the organization. In today’s article, we’ll cover the most important IT metrics for your business.

Uptime Index

This is one of the most important IT metrics. The index of uptime is the technological applications index and the higher the value, the better the performance of the IT structure. It is essential that the company’s technological infrastructures are always available so that productivity rates remain constant. It is unanimous that the ideal uptime should be 99% and for this it is necessary for the IT team to work with high performance methods to ensure constant availability.

Average wait time on the service desk

Another very important metric is the average time that the professionals take to respond to the requests placed in the service desk. The faster the service and the resolution of the situation, the better the IT performance.

Performance of servers

Servers are very important elements for a company, because it is there that all the necessary resources are centralized so that the whole structure is in operation. This is one of the most important IT metrics. You need to use server management methods and use constant monitoring forms. More and more companies entrust the management of their servers to specialized companies that guarantee security, high performance and permanent availability.

ROI

Return on investment is an important metric in any area and the more the IT area grows within a company, the more important it becomes to evaluate the return on investment. It is sometimes very difficult to show the profitability of an investment made in the area of ​​technology and that is why process automation has been gaining more space within organizations. The more automated the IT area is, the easier it will be to prove that you can anticipate problems and avoid system failures.

Average offline time

This KPI serves to analyze the average time an IT device or infrastructure was unavailable. It is a metric known as MDT (mean down time). This metric averages all the time the service was unavailable, for whatever reason: light problems, malfunctions, among others. This value is obtained through the sum of the time the system was unavailable to divide by the number of occurrences in that period.