Factors that Affect Productivity Metric Determination
This article discusses the different factors that affect Productivity Metric Determination. It also discusses what productivity Metrics are.
Productivity Metrics are an important part of determining a company's productivity level. Metrics are the units that are to be measured, they are what kilograms are to weighing and miles are to measuring length. Without an accurate assessment of the appropriate Productivity Metric, it then follows that the rest of the productivity analysis are null and void because it would fail to point out the exact data needed by a company. It may even lead a company into false assumption of their current productivity status. Below are a few factors that affect the determination of the appropriate metrics for productivity determination.
The first factor that greatly influences Productivity Metric Determination is always the company's identity. No matter what type of metric system it is, it should always be based on what the company stands for. And what better way to get to know a company's identity than getting familiar with her goals and objectives. It is important to note that one company's goals are always different from the others no matter if they come from a similar background or they are from the same market. It should always follow that a company's performance metrics be custom made for the company alone.
Another factor that helps determine the right kind of productivity metric for a company is the company's size, scope and employee population. The company's size, scope and employee population may not only determine the type of Metric to be used but it can also help determine how detailed a productivity report has to be. If a company is a big one that has multiple departments, it could follow Productivity Determination which will be performed by each department. This way, company heads can get an idea on which department is doing best and which one isn't.
One other factor of Productivity Metric Determination is the budget of the company conducting the Productivity Measurement. It may seem to be of little significance, but the fact is that if a company has a constricted budget allocation, it will affect the depth of investigation. Companies with little to spend will only be able to get a glimpse of the superficial factors that surround productivity.
There are also two different types of Productivity Metrics and those are Quantitative and Qualitative data. Quantitative data are the easiest ones to determine because the can be found as is. Quantitative data are often associated with output and production based markets like that of factories and sales oriented institutions. Qualitative Data on the other hand are more difficult to process because they have to be converted into Numeric data first. The conversion is usually achieved with the aid of several survey tools like questionnaires that help rate customer satisfaction.
No matter what the factors are; no matter what type of metric is being used, the only important thing is that the company gets accurate and adequate data that will help determine their future moves. Productivity Measurement is futile if they are not done properly and may sometimes lead to profit loss because the company was misinformed.
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