Company management based on key performance indicators: Industry overview

Abstract

Key performance indicators (KPIs) act as a specific indicator of productivity, and reflect the degree of implementation of goals and objectives that have been set for specific employees, departments, or the organization as a whole. There are different key performance indicators depending on the scope of the organization. In any case, as a rule, indicators are divided into different groups to optimize the process of developing an organization’s strategic plan. For organizations, depending on the field of activity, the main KPIs and industry performance indicators are identified, the use of which is designed to increase the efficiency of activities, increase profits and motivation of employees. An important point in optimizing the company’s activities is the formation of an understanding among employees that the achievement of their goals depends on the achievement of the goals of the organization as a whole, since payments of additional financial incentives are made from the profit of the organization. Thus, KPI acts not only as a motivation system for employees, but also reflects the degree of achievement of goals by the business as a whole. Using the example of the gold mining industry, construction, transport and a number of other sectors of the national economy, the main key performance indicators are determined. It is concluded that in addition to the industry specifics, it is very important to take into account the specifics of a particular company when forming a KPI system.