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: A measurement type can have several sub-counters; therefore the used sub-counters are listed in brackets with following meanings as examples:

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

KPI WTC1 Absenteeism KPI WTC2 Overtime KPI WTC3 Industrial Disputes KPI WTC4 Late Work KPI WTC5 Accidents
KPI WTC6 Salary vs. Sales KPI WTC7 Workers Compensation KPI WTC8 Social Insurance KPI WTC9 Medical Insurance KPI WTC10 Benefits
KPI WTC11 Monthly Income KPI WTC12 Hourly Income KPI WTC13 Positional Income

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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Page Last Updated: Saturday, May 5, 2012 8:03 PM