Work Time & Compensation KPIs
Purpose
The purpose of these KPIs is to assist Work Time & Compensation staff and management optimise throughput thereby helping reduce costs, and maximise profit.
They provide pointers at Work Time & Compensation performance in the business, both as individuals and contributory components of teams and departments.
KPIs use either a single parameter or a combination of parameters, often generated automatically by 'counters' whereby the output is a comprehensive performance indicator in itself.
These counters can be built into the Work Time & Compensation tools, the Work Time & Compensation management systems or programmed individually to suit local requirements.
Scope
The scope of these Key Performance Indicators is limited to activities, as defined by the organisation, to lie inder the relevant business area.
However the data used by and/or collected by the counters and measurement tools could originate from anywhere within - or without - the business.
Each individual KPI is reviewed to assess it's "
fitness for purpose" on a periodic basis as defined by the KPI owner.
This is a temporary message - once each individual 'scope" document is written, it will be replaced within the coding that produced this KPI document.
Definitions
Each KPI is described by the following items:
- KPI ID Number: contains the full name of the KPI.
- Target Value: contains the max or min threshold
- Frequency: describes the type of measurement i.e. daily, weekly, or monthly.
- Description: this item provides short explanation of the KPI.
- Formula: this item contains the formula composed by the counters for the KPI.
- Counters: this item contains counters used for calculation and described how they are triggered.
- Object Class: this item shows from which element the measurement statistical data are taken.
- Tools: this item shows which tool is used to calculate the KPI.
- Trigger: the event that starts the KPI measurement.
- Terminator: the event that stops the KPI measurement.
- Tollerance: the amount of leeway in the KPI.
- Unit Range: this items shows the unit range value of the KPI.
- Review Period: this defines the aging process of the KPI. It helps management ensure it's use is relevant.
- Owner: this item reflects who has the authority to adjust the KPI paramaters and to whom any queries should be addressed concerning the measurements.
- Remark: this item is sometimes added to write notes and additional information.
- Process: the process or processes (or work instruction/procedure) to which this KPI is applicable.
A measurement type can have several sub-counters; therefore the used sub-counters are listed in brackets with following meanings as examples:
- [3]: sub-counter 3 has to be taken.
- [1,2,4]: sub-counters 1, 2 and 4 have to be added.
- [1 - 4, 7 - 10]: sub-counters 1, 2, 3, 4, 7, 8, 9 and 10 have to be added.
- [all]: all sub-counters have to be added.
Not all Definitions apply to every KPI. Where an element has no value in the database, it is not displayed.
Note that when the average of a series of inputs is calculated, this is taken to be the arithmetic MEDIAN.
Measurables
Details
KPI WTC1 |
Absenteeism |
Description |
% of total hours lost to absenteeism. |
Unit Range |
Hours |
Process |
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KPI WTC2 |
Overtime |
Description |
Average overtime hours per person. |
Unit Range |
Hours |
Process |
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KPI WTC3 |
Industrial Disputes |
Description |
% of man days lost due to strike. |
Unit Range |
Man-Days |
Process |
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KPI WTC4 |
Late Work |
Description |
Total time lost by work late. |
Unit Range |
Hours |
Process |
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KPI WTC5 |
Accidents |
Description |
Lost time due to non-fatal accidents or accidents per year. |
Unit Range |
Hours |
Process |
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KPI WTC6 |
Salary vs. Sales |
Description |
Salary rate / sales turnover. |
Process |
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KPI WTC7 |
Workers Compensation |
Description |
Cost rate of workers compensation. |
Unit Range |
Local Currency |
Process |
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KPI WTC8 |
Social Insurance |
Description |
Cost rate of social insurance. |
Unit Range |
Local Currency |
Process |
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KPI WTC9 |
Medical Insurance |
Description |
Cost rate of medical insurance. |
Unit Range |
Local Currency |
Process |
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KPI WTC10 |
Benefits |
Description |
Cost rate of benefits. |
Unit Range |
Local Currency |
Process |
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KPI WTC11 |
Monthly Income |
Description |
Average income per employee by month |
Unit Range |
Local Currency |
Process |
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KPI WTC12 |
Hourly Income |
Description |
Average income per employee by hour. |
Unit Range |
Local Currency |
Process |
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KPI WTC13 |
Positional Income |
Target Value |
Minimise |
Frequency |
Yearly |
Description |
Average income per employee by position |
Formula |
Total Salary for Positional range / Number of Staff In Position |
Unit Range |
Local Currency |
Process |
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