How to Write KPIs. Writing Key Performance Indicators KPI's. Content on Key Performance Indicators (KPIs) covered: Introduction to KPI’sBenefits of KPI’sKPI -v- CSFCritical Success Factors (CSFs)Setting KPIs and CSFsVisual KPIsExample KPIsExample HR KPIsMore example KPIsSample KPI page Key Performance Indicators (KPIs) - An Introduction What is a Key Performance Indicator?
A key performance indicator is a financial and non-financial measure used to help an organization measure progress towards a stated organizational goal or objective. The benefits of measuring Key Performance Indicators Can allow management to see the company or department performance in one place.A team can work together to a common set of measurable goals.It can be a very quick way of seeing the actual performance of a goal or strategic objective Decisions can be made much quicker when there are accurate and visible measures to back them up. KPI -v- CSF Key Performance Indicators should not be confused with a Critical Success Factors (CSFs).
Critical Success Factors (CSF) KPI examples. Key Performance Indicator (KPI) I. Characteristics of KPI KPI is a term specifically used to indicate criteria adopted in evaluating the employee’s performance. Following are some characteristics of KPI: 1. 2. 3. 4. 5. 6. 7. II. Key Performance Indictors for the Law Department. Author: Richard G.
Stock Lexpert March 2005 at p. 87 An anonymous CEO is quoted as saying, “I want the data that shows whether the resources spent by the law department are focused on the right priorities and generate value we can measure. Until l get that data, my best option is to keep pushing for lower costs.” For decades, corporate and support functions such as legal, human resources, accounting and IT have escaped the scrutiny to “demonstrate” value. Despite the pressure to deliver smarter–better–faster service, they have been allocated comparatively fewer resources over the years. Adding Value Comprehensive performance management programs are being introduced by corporations in every economic sector. A seven (7) member law department had its lawyers responsibilities aligned with the primary internal “clients”. However, outside counsel costs were not centrally budgeted and allocated. Performance Management - Legal Departments. Three reasons are given why General Counsel should develop a working definition of the value of the legal department to their company.
The question is posed about whether corporate counsel that have "clients and a practice" find it more difficult to make a strategic contribution. Five business competencies are defined and essential for corporate counsel of intermediate experience to master: customer focus, an achievement orientation, resourcefulness, critical thinking, and a strategic business sense. "Are General Counsel Too Risk Averse? " Lexpert, Vol 10, No 5, March 2009 A number of surveys of corporate counsel are referred to in addressing the severity and urgency of reducing total legal spend. "Competencies for Lawyers? " Four categories of competencies for corporate counsel are detailed. "Should the Legal Department Be Audited? " Comprehensive “audits” of legal departments are rare. "The Five Pillars" Lexpert, November/December 2006, Volume 8, No. 2. The power of numbers legal KPIs and driving performance - Publications - Eversheds International. United Kingdom | Health and life sciences The drive for increased efficiency and measurable performance has turned the spotlight on General Counsel (GC) and asked the question – ‘What is the value of the legal team?’.
It is a question that keeps many awake at night, struggling to identify quantifiable results that can be tracked and evaluated over time. The old saying is ringing true – how do you manage what you don't measure? Legal Key Performance Indictors (KPI) are seen as the solution, but are a minefield for General Counsel who don't know where to start in setting the right KPIs for their legal teams. There are hundreds of possible KPIs that could be used to measure legal performance – from the percentage of legal budget spent mapped against matter outcomes, time taken to respond to legal emails, to external law firm invoice payments. A legal KPI is as individual to a company as a fingerprint. Defining KPI strategy. How to measure the performance of the legal department of a company.