KPI is an abbreviation for key performance indicator (s). KPIs are numerical methods of tracking a company’s progress toward certain business objectives. KPIs must be something that can be counted and measured objectively to track success. Let’s take a look at some of the KPIs you may track using employee training tracking software to maintain track of your training program and the training progress of your employees.
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Learner engagement evaluates how much time and effort learners, in this case, employees put into the learning process. It signifies that employees are making the effort to sign up and analyze the training content that has been created. While there is no precise metric for measuring this, there are certain engagement numbers to consider. Time spent on lessons or courses is included. These elements are included in the majority of LMS systems. The more hours an employee invests in the learning platform and interacts with its many features, the more engaged they will be.
Nevertheless, that isn’t always the situation, as some learners may simply ‘click’ through the lessons without learning. As a result, to assess engagement, it should be combined with other measures such as satisfaction rating, course completion, and employee performance.
Increase in productivity over time
The manager is responsible for the team’s productivity. No matter how many resources are available, it is the manager’s responsibility to ensure that the people who answer to them are constantly productive. As a successful manager, you must outline the measures that will be utilized to assess staff performance. Furthermore, these scores can then be used to analyze and assess the manager to other managers in the same sector. Productivity can be quantified using a variety of metrics. It could be determined by the amount of time spent on each task, involvement in work-related activities, employee assessment, and other factors. Each of these criteria is critical for a healthy and productive workforce.
Percentage of training completion
You might check the numbers to monitor training completion regularly to ensure that the training program isn’t being neglected. If you run a cyclical industry, such as building or agriculture, you could expect training completion to drop during a given time of year (summer for the building, fall for agriculture), and then you’d assume those statistics to rise following the busy season.
Another point of running this report is for compliance purposes. Every quarter, the completion rate for mandated, compliance-based training should be 100%. You can administer this test just several weeks before the deadline of the quarter, and if the completion rate is less than 100%, notify department supervisors so that employees complete their needed training on time.
The increase in sales following the training period is one of the simplest ways to gauge the effectiveness of training managers. Compare past sales numbers to see whether there has been any progress. Tracking sales will place you in a position to optimize the complete sales process. Once you have a huge amount of data, you will be able to determine which areas require additional assistance. You will be able to detect inefficiencies, optimize the sales process, determine whether or not the sales scripts employed may be improved, and so on. Focusing on each of these areas can help the training manager’s KPIs greatly.
Effective employee training is essential for the long run of your firm. That is why you must ensure that it is producing the desired effects. Tracking the appropriate training metrics will help you achieve this.