Example of Kpi and Benchmarking
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Balanced Score card
Balanced Score card is the performance targets according to a range of perspectives not only finance. It has 4 main perspectives: financial, customer, internal process, learning and growth.
In an organization, the area of financial includes the cash flow and profit margin. Customer area includes customer satisfaction, service delivery. Internal process includes operation process for delivery service and communication platform for internal division. Learning and growth includes the investment for the training or research.
In social service organizations, KPI (key performance indicator) can be stated in the balanced score card as the follow:
Financial: There is +/- 5 varies difference in overall budget expenditure of each centre in each year
Customer: it should be 95% satisfaction rate gained from the service users
Internal Process : two safety measures should be improved in the year
Learning and growth: 100 training hours should be conducted for 30 staff training centre in one year.
Benchmarking
Benchmarking involves the comparison of an organizations pratices with others in order to identify areas of improvement
Approaches to Benchmarking
Historical benchmarking; performance in relation to previous years
Industry or sector Benchmarking: performance by looking at the competitive performance of other organization in the sam inductor sector or between similar public service provider
Best-in-class benchmarking; performance in relation to the comparison of the best practice organization
12 Day Activity Centres for mentally handicapped person in Fu Hong Society is using internal benchmarking of industry or sector benchmarking, in which the benchmark of 80% satisfaction rate of users parents gained is required while 4 times Parent group meeting at least in one year when compared in the same sector benchmarking.