15 Jun List and describe three to five key performance indicators. Should rewards be tied to KPIs?? Need to respond to one classmate post. The response should be

A KPI is a measurement of an activity or process which is relevant to achieving an objective or strategic objective. A KPI is a method of monitoring the performance of an activity or a process in order to identify and understand the reasons why some activities or processes are not delivering to the agreed or expected levels. It helps managers and employees to assess whether the organization is making progress toward the agreed objectives or whether there is a need for change. KPIs are an important way of measuring the effectiveness of strategies and operations. They should be agreed upon and understood by everyone within the organization, and they should provide useful information (Stockenberg & Sultán, 2018).

Employee engagement:

Employee engagement in the new role in your organization is the performance of specified criteria. The specified criteria are often expressed in terms of a percentage. The percentage shows how well the employees are performing in the new role in the organization. To measure a performance against a key criteria is more general, for example if you want to know what percentage of the employees are meeting the performance criteria in terms of customer retention, one would set the KPI as a performance indicator against that key performance criteria.

Customer satisfaction:

Customer satisfaction/customer service is a particularly important KPI for businesses that deal with complex topics. For example, a content management system company is going to focus much more on customer satisfaction, as the average user of a CMS has many different skillsets that require the company to manage their content and business relationship for them. Most businesses measure revenue and profits, but it’s also important to have a metrics that measures how well your business is making money (Zarzycka & Krasodomska, 2021).

Turnover:

KPI turnover is an important KPI that can be measured, if the time is less than the required time, then the turnover will be better, it means the organization is working efficiently. If the turnover is higher than the time, it means that the business is not growing, so to make it faster to reduce the turnover.