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They give teams a clear and structured understanding of what they need to achieve and allow business leaders to assess performance across the organization. In addition to providing consistent direction, performance goals are powerful motivators when they are aligned with the employee's more immediate tasks and goals, such as goals and key results. A McKinsey study shows that companies with effective performance management systems connect employees’ personal goals to broader business priorities Examples of Key Performance Goals to Support Business Growth While all organizations have their own priorities, many business strategy experts agree that five key performance goals are useful for all businesses.

Quality Speed Reliability Flexibility Cost With these and a few examples you can begin to create a more detailed and customized list of effective goals for your own business. Quality Quality is the clearest indicator of how well your business achieves its goals. It is a fundamental aspect Email Marketing List of performance reflected in product effectiveness and directly affects brand reputation, operating costs, sales and customer loyalty. The first question to answer when setting quality-based performance goals is whether your product service or operation is consistently working as expected. One way to measure this is to track warranty expenses.



Organizations that benchmark performance data based on data The median warranty cost for  businesses is  of sales revenue, for example,  of sales your own quality performance and set a goal to reduce warranty spend over a specific period. Speed Speed refers to the turnaround time between a customer ordering a product or service and receiving it. Research shows it should be a priority for you. PwC reports that consumers look for efficient delivery or pickup services when shopping online, making this the second biggest attraction after cost. Quickly and easily browsing a website to find products is also a top three factor for online shoppers. A faster and more efficient sales process not only has a positive impact on conversion and customer retention rates but also frees up resources to reduce operating costs.