Key Performance Indicators are the key factors which reflect organizational goals and aid in evaluating the progress made toward these goals.
The motivation appears to be one of the biggest challenges for Balanced Scorecard users. The Balanced Scorecard will not work, if people are not motivated, so before actually using motivation KPI, make sure you know how to motivate people during Balanced Scorecard implementation.
Key Performance Indicators in Motivation can be broadly categorized under four categories-Growth and Development, Compensation, Non-Monetary Compensation and finally Intrinsic factors.Growth and Development includes KPIs like Training, Job Stability, Growth Path and Promotions. These factors are related to the initiatives taken by the company to foster learning and provide growth opportunities to the employeesCompensation comprises of KPIs which take into consideration monetary benefits provided by the business to its employees. The KPIs are Employee Stock Option Plans (ESOPs), Salary, Insurance Benefits and Bonus and Incentives.Non-Monetary Motivators refer to the non-cash factors that can enhance the motivational level of the employees. Supervision, Family Welfare Programs, Hygiene Factors and Recreational Factors are the part of Non-Monetary Compensation.The last category is of Intrinsic Factors that talk about KPIs like Challenges, Control, Competition and Recognition. Intrinsic Factors describe the natural factors that can be used in judging the motivation of the employees.
Read Why do business professionals choose ready-to-use KPIs? to find out the answers to these questions:
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Pumping up the 'will to do their best' is what best describes the act of motivation. Though such a push forms an important constituent of a 'successful personality'; it gets all the more important when the scene shifts to an organizational setting.
The pressures of 'meeting the targets' that keep looming around at the workplace can be extremely draining at times, however one needs to get over it. Here comes the role of motivation that explains employees the reason for 'going out of their way' to contribute to organizational success.
Companies often depend on 'teams' to carry forward their assignments. These groups are to be guided by capable people who can sense the situation of motivation level getting lowered and devise ways to give it an upward thrust.
Companies use various methods to keep 'motivating' their employees, which can be monetary or non-monetary in nature. Both of these have been found to significantly add to the motivation levels of team members.
Counting on such efforts is possible with a 'performance management and measurement tool' called BSC (Balanced Scorecard). This depends on the appropriate choice and usage of metrics to be used for calculating the way 'process of motivating employees' has been going on.
This is the actual scorecard with Motivation Performance Indicators and performance indicators. The performance indicators include: growth and development, training, job stability, promotions, growth path, compensation, salary, bonus, esops, insurance covers, incentives, non-monetary motivators, hygiene factors, welfare plans, recreational engagements, supervision, intrinsic factors, challenges, controls, recognition, competition .
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