Do you know what success looks like in your company? To know that, you need measurements of performance — and benchmarks to measure them against. They enable you to gauge how the company is executing against its previous performance and plan for the future. They also help you benchmark how the company is performing against your competition and the rest of the industry.
You can use KPIs to prioritize your workload and urgencies.
This practice is accomplished by utilizing Key Performance Indicators (KPIs). KPIs measure the effectiveness of three vital factors:
- Your strategic plans: Every year the management team needs to examine the results of the KPIs, determine any gaps, and then brainstorm solutions to eliminate the gaps. This becomes the foundation for developing your company’s strategy.
- Industry success factors: You can use KPIs to prioritize your workload and urgencies. In today’s world, everyone is overloaded by the amount of work that they must accomplish. The KPIs keep your eyes on what enables success in your industry.
- Decision-making guidelines: KPIs should direct your daily, monthly, and yearly decision-making. If your actions do not support the KPIs, they need to be reduced or eliminated. This allows for streamlined decision-making and a nimbly acting organization.
Using KPIs as a guideline for developing your strategic plans, analyzing industry standards, and improving your decision making will allow you to make your dreams a reality in the HVAC industry.
Read more about trending topics in the HVAC industry on the HVAC Learning Solutions blog.
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