3 Standard, Mid-Level & Advanced KPI Templates For Managers

We have three KPI report templates for you. But before we detail what they look like, here’s a brief refresher course on KPIs.

Key performance indicators (KPIs) are important measures that help you understand how your organization or department is performing as you work toward your objectives.

Good KPIs act as a navigation tool to help you evaluate your organization’s progress toward its goals. Using the right KPIs helps to ensure your team is on the right path to achieving strategic goals. Effective KPIs must be:

• Easily defined
• Quantifiable
• Communicated to the team
• Crucial for goal achievement

To streamline this process, ClearPoint Strategy provides easy-to-use KPI templates tailored for managers at different levels of expertise, ensuring that you can start effectively tracking your progress right from the get-go.

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Why Use a KPI Report Template?

You’ve been S.M.A.R.T. in selecting your KPIs—now you need to be smart about tracking them! This is where a KPI report template comes in. It is simply a strategic method of tracking your KPIs that will help your department or organization stay organized. (For a practical example of a KPI template in action, take a look at this article.)

The “ideal” version of the key performance indicator template is our advanced template, as it contains the most detail—but it is not always realistic to gather that much information when you are just getting started with a scorecard.

To avoid getting bogged down, first decide on the level of detail you want for each measure you’re tracking and how much consistency you’re looking for across the same metric from month to month. If you’re just getting started using KPIs, consider using either the beginner or mid-level template. Over time, you will be able to progress to the advanced template.

Below, we’ve outlined the information commonly found in a standard KPI template, a mid-level KPI template, and an advanced KPI template. To help you visualize what an effective dashboard might look like for each, we’ve included screenshots from ClearPoint.

Standard KPI Template

Using a standard KPI template helps you avoid getting bogged down with too much data or dealing with “KPI fatigue” (which can happen easily if you jump right to the advanced template). Use this template if any of the following situations apply:

• You are just beginning to track your metrics.
• You don’t have much historical metric data to work from.
• You’re still trying to get leadership buy-in on the KPI tracking process.
• You’re still working on getting people within the organization to contribute.

Once you’ve met these basic requirements, you can move up to more detailed templates.

A standard KPI template should include the following fields:

1. Measure description: This provides context behind the measure.

• Why did you create this particular measure?
• How will tracking it help you meet your goal?

2. Measure owner: This provides accountability.

• Who is going to gather the data?

3. Measure formula: This helps with data consistency, as people need to know where to find this information so they can gather and compare it over time.

• What's the target?
• What's the actual?

ClearPoint Strategy supports this initiation phase by providing a clear framework and user-friendly interface to track these essential metrics without feeling overwhelmed.

Mid-Level KPI Template

Once you have more historical measure data gathered for your measures and can establish targets for each KPI, you’ll want want to move from the standard template to the mid-level template. This template adds more context behind the data, allowing you and your team to be more consistent when you look at your measures period to period. Include the following fields:

1. Measure description: As shown in the standard template.

2. Measure owner: As shown in the standard template above, with the addition of:

• Who can provide context for the data?

3. Measure formula: As shown in the standard template above, with the addition of:

• What's the source of the information where I can gather data consistently?

4. Measure RAG status: In the mid-level KPI template, you'll want to be able to easily see if you're reaching your targets–or how close you are to eaching your targets. Additionally, you'll want to ensure consistency with each KPI from period to period. (Note: These measurements can be generated automatically if you're using a KPI tool.) At this level you'll need to determine your tolerance range for all KPIs–for example:

• Green: At or above target.
• Yellow: Within 10% of the target.
• Red: Below 90% of the target.

With ClearPoint Strategy, you can seamlessly upgrade to this template, utilizing more detailed data visualizations and reporting features to enhance consistency and understanding across your team.

Advanced KPI Template

If you’re interested in data visualizations and/or you already have targets established, you might choose to use the advanced template. Additionally, this template can be useful if you have a large number of people contributing to one KPI (as it allows for better tracking). Include the following fields:

1. Measure description: As shown in the standard mid-level templates.

2. Measure owner & data gatherer: Whereas the standard and mid-level templates only list a measure owner, an advanced KPI template should list both a measure owner an a data gatherer. In larger organizations, this may be two different people:

• The measure owner should be in charge of the measure and data analysis.
• The data gatherer should be the one to harvest the data

3. Measure formula: As shown in the standard template above, with the addition of:

• Benchmark data
• Monthly actual or YTD totals

4. Charter data: Seeing the data charter allows measure owners–and everyone else to see how a KPI is progressing period to period. Depending on the chart used, you can also compare the data to other organizations or other sources of data.
5. Measure RAG status: In an advanced KPI template, you may choose to refine your RAG statuses for each individual measure. For example, if a measure needs greater precision, you may decide Yellow signifies that you're only 2% off target; and a different measure needing less precision may qualify as Yellow if it's below 90%.

ClearPoint Strategy makes it feasible to manage complex data sets and multiple contributors efficiently, empowering your team to achieve targeted outcomes with precision.

If You’re Just Getting Started, Don’t Skip to the Advanced KPI Template

If you’re still figuring out exactly what a key performance indicator looks like for your organization, it’s a good idea to start with the most basic template outlined above. Your executive team may be begging for details that are in the mid-level or advanced template, but you can work up to those when you’re ready.

It’s important to understand your capabilities and limitations before you get started, so you don’t get bogged down in the details. Don’t just track KPIs for the sake of doing so. Instead, follow the steps above to ensure your KPI tracking is valuable and purposeful.

ClearPoint Strategy facilitates this growth by allowing you to customize and scale your KPI tracking efforts as your organization develops.

Elevate Your Business Intelligence with ClearPoint Strategy Software

Unlock the full potential of your performance tracking with ClearPoint Strategy. Our tailored KPI templates offer precision and ease, empowering you to manage and measure success at every organizational level. Book a demo today and see how ClearPoint Strategy can transform your data into decisive action.

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FAQ:

How do you write a KPI example?

To write a KPI example:

- Identify the Objective: Define what you want to achieve. For instance, increasing customer satisfaction.
-Be Specific: Make the KPI specific to your objective. Example: "Increase customer satisfaction score."
- Make it Measurable: Ensure the KPI can be quantified. Example: "Increase customer satisfaction score by 10%."
- Set a Time Frame: Define the period over which the KPI will be measured. Example: "Increase customer satisfaction score by 10% within the next 12 months."
- Ensure Relevance and Achievability: Make sure the KPI is relevant to the business goals and achievable. Example: "Increase customer satisfaction score by 10% within the next 12 months through improved customer service training."
- Example KPI: "Increase customer satisfaction score by 10% within the next 12 months through improved customer service training."

How do you create a KPI in Excel?

To create a KPI in Excel:

- Open Excel: Start with a new or existing workbook.
- Define Your Data: List your KPI data, such as current values, targets, and time frames.
- Use Formulas: Create formulas to calculate progress. For example, use the formula =(Current Value/Target Value)*100 to get a percentage.
- Insert Charts: Use Excel charts like bar graphs, line charts, or pie charts to visualize KPI progress.
- Add Conditional Formatting: Highlight KPI performance using conditional formatting to show whether targets are being met.
- Create a Dashboard: Organize your KPIs and charts into a dashboard format for a clear overview.

How do you set KPIs?

To set KPIs:

- Identify Business Goals: Start with your organization’s strategic objectives.
- Define Clear Objectives: Make sure each KPI aligns with these goals.
- Use SMART Criteria: Ensure each KPI is Specific, Measurable, Achievable, Relevant, and Time-bound.
- Involve Stakeholders: Get input from relevant stakeholders to ensure buy-in and alignment.
- Set Benchmarks: Determine baseline performance and set realistic targets.
- Communicate: Clearly communicate KPIs to all relevant parties.
- Monitor and Adjust: Regularly review KPIs and adjust them as necessary to reflect changes in business strategy or market conditions.

What does a KPI report look like?

A KPI report typically includes:

- Title and Date: Clearly state the report title and the reporting period.
- Executive Summary: A brief overview of the report’s key findings and insights.
- KPI Overview: List the KPIs being measured, their targets, and their current status.
- Visuals: Include charts, graphs, and tables to visualize KPI performance.
- Analysis: Provide an analysis of the results, explaining any variances from targets and implications.
- Action Items: Recommend actions to improve performance or capitalize on positive trends.
- Conclusion: Summarize the key takeaways and next steps.

How do I create a KPI dashboard in Sheets?

To create a KPI dashboard in Google Sheets:

- Open Google Sheets: Start with a new or existing spreadsheet.
- Organize Data: List your KPIs and relevant data points in a structured manner.
- Use Formulas: Apply formulas to calculate KPI metrics and progress.
- Insert Charts: Utilize Google Sheets’ charting tools to create bar charts, line graphs, and other visual aids.
- Apply Conditional Formatting: Highlight KPI performance with color-coded cells to indicate progress toward targets.
- Design the Dashboard: Arrange your charts and data summaries on a single sheet to provide a clear, at-a-glance overview.
- Use Filters and Slicers: Add interactive elements like filters and slicers to allow users to view specific data segments.