The Missing Metric: Competency Performance Index
Key Performance Indicators (KPIs) are critical to a company’s performance, and critical to almost every output is their most expensive and potentially greatest asset—their workforce. Why then, do companies fail to measure employee knowledge, capability and competency with anything like the same degree of diligence or frequency as they measure the KPI itself?
One of the key challenges of Learning and Development is to not only measure return on investment but also to be perceived by management as a strategic and valuable partner in the boardroom.
With the large majority of systems and processes quantifiable, L&D’s inability to link targets to operation and business objectives based on performance results in management perceiving training to be a necessary evil, a tick-the-boxes chore that adds no tangible value. Whilst L&D’s value is often incremental improvements per person, when this is multiplied by a large workforce, however, it can add up to a big impact on a KPI.
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