10 Tips to Improve Your KPI Reporting

Written by Cristina Mihăiloaie on June 4, 2020. Posted in Employee Performance, Individual Objectives and KPIs

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Key performance indicator (KPI) reporting is an important stage in the performance management process. However, managers can sometimes fall into the trap of considering it as the end of the performance cycle. Merely reporting performance data will not deliver improved results—this is only possible when decisions are made based on data-driven insights.

Some common issues in KPI reporting are information overload (which makes it hard to focus on what is important), the unavailability of timely information (which hampers decision-making), and inaccurate data (which can lead to misinformed directives). By following these 10 pieces of advice, you can solve these aforementioned problems, ensure better KPI reporting, and consequently improve your decision-making process.

Read More >> Everything You Need To Know About KPI Selection

1. Ensure data timeliness by clarifying the responsibilities of data custodians and the data-gathering process. Sending reminders also helps in receiving data on time.
2. Verify data accuracy by requiring raw data and analyzing it before compiling the report. Frequent data audits ensure higher accuracy.
3. Make sure performance results are accompanied by comments. Data custodians should also provide the context in which either high or low levels of performance occurred.
4. Display data in tables and graphs by maintaining a simple and appealing visual design of the report.
5. Send the performance report to all stakeholders at least three days before the performance review meeting to ensure data is reviewed before the discussions.
6. Inform all participants about the performance review meeting agenda and make sure to stay on topic to ensure important issues are solved in due time. Should you be interested in conducting efficient and effective performance review meetings, make sure to include topics such as:
   • Presentation of results
   • Discussions on the KPIs that are far from reaching targets
   • Analysis of the possible causes of underperformance
   • Review of the portfolio of initiatives
   • Decisions upon the next steps
7. Prioritize discussing the KPIs in red to identify the root cause of the problems.
8. Avoid finding responsible persons for poor performance. Instead, focus on finding solutions and assigning accountability to ensure the agreed-upon initiatives will be implemented.
9. Keep it short by assigning a meeting coordinator to keep discussions on the right track. A performance review meeting should not last more than two hours.
10. Send a follow-up email with the meeting minutes and all initiatives established, along with their responsible persons and deadlines.

Read More >> How To Implement a KPI Measurement Framework

Improving the KPI reporting process leads to a better, more informed, and more efficient decision-making process. To track your progress, use our GPA Unit’s free tool, which offers maturity level assessments via its performance management audit!

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