Unlike all other posts, this text resembles a reference document rather than text to be read from the beginning to the end. I present a short description of the most important indicators taken from the book by Bernard Marr [1] . As participatory company values and principles require focus on people rather than economic results, I reordered the KPI in a way that should reflect the participant company’s set of values starting with the people indicators.
I. Member / Employee perspective
1 Human capital value added (HCVA)
How is it calculated?
HCVA = Revenue- [(Total costs-Employment cost) / FTE]
Comment
It would be inappropriate to talk about employees’ assets, even if we add they are the most important assets. Assets can not be goals at the same time. If they are not, they are not. The truth is that the gain is to be calculated and the employees should be considered key enablers of future success. Employees’ gains are often a missing ingredient in accounting and finance (except as an expense) and with a little effort we can calculate the effects of people on financial performance. The equation is formulated in traditional “cost” terms, but each time we use it we should be aware of not thinking in this way.
2 Revenue per employee (RPE)
How is it calculated?
RPE = Revenue / Number of employees
Where number of employees are full-time equivalent.
Comment
In general, conventional companies aim to deliver more revenue with fewer employees. By putting revenues in relation to the number of employees you derive an important ratio of productivity. The companies are created to help as many members as possible. But business wise, this measure is an important indicator of the efficiency of the participative company. So, it should be calculated, remembering about the importance of people in a participative company.
3 Employee satisfaction index
How is it calculated?
Usually, mean value of satisfaction based on several satisfaction questions. It is also possible to use the percentage of the most satisfied employees.
Comment
Employee satisfaction is the terminology used to describe whether employees are happy and fulfilled and fulfilling their desires and needs at work. Co-opIndex has many questions starting with “I am satisfied with …” We propose to use Co-opIndex as an employee satisfaction tool.
4 Employee engagement level
How is it calculated?
Similarly to satisfaction, it may be measured with surveys, but also other measures are possible participation in meetings, number of innovation proposals, etc.
Comment
Employee engagement surveys emerged as a way of measuring satisfaction but as a mechanism for assessing the contribution of the employee to performance, productivity, and ultimately sustainable financial results. This measure named as member engagement level may be an important indicator of the vitality of a participatory company.
5 Staff advocacy score
How is it calculated?
Staff advocacy score may be based on surveys or Net Promoter Score
Net promoter score = (% of employees that are detractors) – (% or employees that are promoters)
Comment
Employees who are advocates of your business refer your company to their friends and family members, not only potential customers but also as a potential employer. Having your own employees on your side is critical in an era where personal views spread like wildfire through the social media and online universe. Of course, for participative companies this should be measured first of all for members.
6 Employee churn rate
How is it calculated?
Employee churn rate = (Total number of leavers over period)/(Average total number employed over period) * 100
Comment
A measure of employee churn rate, or employee turnover rate, is used to gain insight into how many of your employees your business is losing in a given time period in comparison to the overall number of employees. For participative companies this measure should be calculated in a slightly different way, as there are two stages of membership. First, when the employee is a candidate for membership and then membership proper. The two churn rates should be calculated.
7 Average employee tenure
How is it calculated?
Average employee tenure = Sum of all tenures / Number of full-time employees
Average employee tenure by job role / Job type = Sum of all tenures in that particular role / Number of full-time employees in that role role
Comment
Long average employee tenure usually indicates that employees are more loyal and dedicated to the company. Long tenure will generally help reduce recruitment and training costs. Again in the participative company context this is an important measure, but one that should be calculated in order to find effective ways of making the participative company open to new members.
8 Absenteeism Bradford Factor
How is it calculated?
Bedford factor = Dt * Et * Et
Where:
Dt = Total number of days of unplanned absence
Et = Total number of individual spells or episodes of absence
Comment
The Bradford factor measures an employee’s irregularity of attendance by combining measures of absence frequency and duration and is designed to highlight employees who take many short-term absences from work. This measure may be an important measure of entitlement and misuse of the membership rights, but may also help to find a difficult situation to member in.
9 360-degrees feedback score
How is it calculated?
There is no single formula used within a 360-degrees assessment as there are many consultants in the field.
Comment
360-degree feedback provides an individual with a broad assessment of their performance based on views of those who have a stake in their performance, such as a supervisor/boss, reporting staff members, co-workers, customers, suppliers, etc. In conventional companies, usually, only the managers and executives can receive the feedback. With tools like the present report, companies should do everything to enable every member and employee to receive such feedback.
10 Salary competitiveness ratio (SCR)
How is it calculated?
SCR (competitor) = salary offered by your company/salary offered by your competitor
SCR (industry) = salary offered by your company / average salary offered in the industry or sector
Comment
Understanding how the salary of your company pays to the competitors to provide their employees in similar positions in the same area or market gives you insight into the competitiveness of your company as a potential employer. Of course, co-op members can try to find alternative companies; However, what they usually forget about are the uncountable community-related values. Often the members may regret changing their jobs because of lower salary at the co-op after they experience the value of the work environment. Sometimes, monthly or yearly paid dividends may alleviate the difference, but only to co-op members. All these factors should be taken into account.
11 Time to hire
How is it calculated?
Time to hire = time elapsed between time of start and time to start
Comment
By measuring the time it takes to hire employees, organizations will gain insight into the efficiency in filling employee vacancies from, to job offer, acceptance of position, and start of work. For companies a very important measure may be time to membership. It shows real openness of the co-op to new members.
12 Training return on investment
How is it calculated?
Pre-training results are compared to post-training results for individuals, teams and whole company.
Comment
Training expenditure impacts financial performance. Best practices provide a measure of return on investment (ROI) on the training dollar.
II. Customer perspective
13 Net promoter score
How is it calculated?
It is calculated on the basis of the analysis of the question: How likely is it that you would recommend company X or product Y or service Z to a friend or colleague?
Net promoter score =% of Promoters [score 9-10] -% of Detractors [score 0-6], usually measured each month.
Comment
Customers of every company can be divided into Promoters, Passives and Detractors. This measure gives a picture of a company’s performance.
14 Customer retention rate
How is it calculated?
Customer retention rate = Number of customers at the beginning of period t / Number of customers that remained customers at the end of a period, frequency depends on industry, usually annually.
Comment
This indicator shows the loyalty of customers through real behaviors.
15 Customer satisfaction index
How is it calculated?
American Customer Satisfaction Index = single score based on measures of customer expectations, perceived quality, perceived value, customer complaints, and customer loyalty. Usually measured on an on-going basis particularly in services.
Comment
It shows how successful the organization is by providing products and / or services to the marketplace.
16 Customer profitability score
How is it calculated?
Customer profitability score = Net dollar contribution made by individual customers to an organization, depending on the formula used
Comment
This measure ensures that an organization does not lose sight of its ultimate objective: to make a profit from selling products and services. This indicator has limited application in participatory companies as they are not profit oriented.
17 Customer lifetime value (CLV)
How is it calculated?
usually measured annually
Where:
GC is Yearly gross contribution per customer
M is Retention cost per customer per year
n is horizon (in years)
r is yearly retention rate
d is yearly discount rate
Comment
It is the net present value of cash flows attributed to the relationships with a customer.
18 Customer turnover rate
How is it calculated?
Customer turnover rate = Lost customers over period t / Total number of customers at the end of period t, usually measured each month or quarterly.
Comment
Method used to track the loss of clients or customers.
19 Customer engagement
How is it calculated?
One of the methods is Gallup’s metric based on 11 questions related to emotional attachment questions and three rational loyalty questions.
Customer Engagement = Number of actively engaged customers / Number of actively disengaged customers, usually measured annually
Comment
It measures a customer’s relationship with an organization as assessed through the customer’s overall perception of / experience with the organization.
20 Customer complaints
How is it calculated?
Customer complaints = Number of complaints or time to resolve customer complaint
Comment
According to a study in 1999 every unhappy customer will tell 10 people about their experience; These 10 people will tell a further 5 people. Only 60 people will hear about a negative experience.
III. Corporate social responsibility perspective
21 Carbon footprint
How is it calculated?
Carbon footprint is typically given in tons of CO2-equivalent per year, but even time spent by executives spent on airplanes could also serve to measure it.
Comment
All organizations have a role to play in global efforts to put a break on further climate change. The most effective way is to measure its “carbon footprint”: that is, to quantify how much damage the organization is doing to the environment by way of GHG emission.
22 Water footprint
How is it calculated?
The water footprint of an individual, community or business is defined as the total volume of fresh water that is used to produce the goods and services consumed by the individual or community, or produced by the business.
Comment
The water footprint helps to show the link that exists between our daily consumption of goods and the problems of water depletion and pollution that exist in the regions where our goods are produced.
23 Energy consumption
How is it calculated?
Energy consumption is the amount of energy purchased at a given time period.
Comment
Tracking energy consumption provides companies with an insight into how much money they are saving and how much they are helping the environment.
24 Savings levels due to conservation and improvement efforts
How is it calculated?
Total level of savings (in carbon emissions, water usage, energy usage, or cost) generated from the conservation and improvement projects identified.
Comment
Collecting data on the savings generated by conservation and improvement projects will give an insight into the effectiveness of these projects and programs.
25 Supply chain miles
How is it calculated?
Supply chain miles = Distance between location of production and the location of the final delivery.
Comment
Measuring the distances that products or components have traveled will provide companies with insights into the environmental impact of their business activities.
26 Waste reduction rate
How is it calculated?
Waste reduction rage = {[wasted raw material (in the last period a)] /[Wasted raw material(in the last period b)]}* 100
Where
Production output in periods a and b is the same
Wasted raw material is (Raw-Raw in part)
Raw is the amount of raw material used in period x
Raw in part is the quantity of raw material in parts for period x, calculated by multiplying the amount of raw material per unit or product and the total number of products or unit produced in period x
Comment
Waste is an important component of any business, and beyond the simple costs of wasted waste materials are hidden waste costs, the costs of producing the wasted product, lost production time, time lost on waste management, storage and clean up Costs, etc.
27 Waste recycling rate
How is it calculated?
Waste recycling rate = [(amount of waste recycled or reused )/ (total waste produced)]* 100
Comment
By reusing or recycling the waste we produce we can not only reduce the environmental impact but also save costs. Cost savings can be generated from saved waste disposal costs, saved material costs and generated income (if you are able to sell your waste for reuse or recycling by other companies).
28 Product recycling rate
How is it calculated?
Product recycling rate = [(amount of products recycled or reused) /(Total amount of products sold)]* 100
Comment
Once products have come to the end of their life, the aim should be to recycle most if not all of them. The product recycling rate will provide insights into the proportion of the products sold that were recycled or reused.
IV. Marketing and sales perspective
29 Market growth rate
How is it calculated?
Market growth rate (%) = Total sales in the market for this year / Total sales in the market for last year , usually measured annually
Comment
This indicator identifies future growth opportunities in existing and new markets.
30 Relative market share
How is it calculated?
Relative market share (%) = Organisation’s market share / Largest competitor’s market share , usually measured annually.
Comment
Although it depends on the sector, it makes it possible for a company to compare with competitors and identify opportunities for improvement.
31 Brand equity
How is it calculated?
It can be calculated in many ways on different levels (Firm level, Product level, Consumer level)
Firm level brand equity = Value of the firm its market capitalisation – Tangible assets and measurable intangible assets, usually measured on a going basis
Comment
Brand is able to influence consumer behavior. It is the value that a brand adds to an organization’s products and services.
32 Cost per lead
How is it calculated?
Average cost per lead = Total money spent on marketing campaign / Total leads generated, usually measured several weeks or months after a marketing event.
Comment
It is related to the investment in attracting potential customers. It is a leading indicator of likely future revenue streams.
33 Conversion rate
How is it calculated?
Conversion rate = (Number of goal achievements / Visitors) * 100, should be beaning continuously
Comment
Conversion is turning leads or potential customers into current customers. It shows how well the company’s marketing and sales strategies, and their operations, are aligned.
34 Search engine rankings (by keyword) and click-through rate
How is it calculated?
We write a key word into the search engine such as google, and check on what position is our company in the ranking.
Comment
Measure of web site traffic for assessing the effectiveness of an organization’s internet strategy in attracting and gaining value from visitors. This indicator is very important for participatory companies.
G. The link to my presentation appeared only on 45 th position after writing “participative company lifestyle”
35 Page views and bounce rates
How is it calculated?
Pages views = The total number of views on an internet page
Bounce rate = Total number of visits viewing only one page / Total number of visits
Comment
Page views is simply the total number of pages viewed on the site and is a general measure of how extensively the site is used. Bounce rates essentially represent the percentage of initial visitors to a site that bounce away to a different site, rather than continue on other pages within the same site.
36 Customer online engagement level
How is it calculated?
There is no single or generally accepted measure of customer engagement
Comment
Customer engagement is defined as the repeated interactions that strengthen the emotional, psychological or physical investment a customer has in a brand.
37 Online share of voice (OSOV)
How is it calculated?
OSOV = (Number of mentions for your brand / Number of mentions for your brand and all your competitor brands) * 100
Comment
There are free-to-use tools out there that track us any user-generated content from across the online and social media universe. This is where you can learn what people are saying and how their brands and products are perceived and talked about.
38 Social networking footprint
How is it calculated?
A number of systems for measuring an organization’s social network footprint are entering the market, all with their own measurement methodology and assessment formula.
Comment
Those organizations that figure out how to align their messaging with the thinking, mindsets and culture of social networking sites will reap huge benefits. This is one of the great opportunities facing organizations as we move deeper into 21st-century knowledge-based globally connected economy.
39 Klout score
How is it calculated?
The exact formula is not disclosed.
Comment
The Klout score is a measure that allows you to measure your overall online influence on a scale from zero to 100, taking into account over 35 variables on Facebook, Twitter and LinkedIn
V. Financial perspective
40 Net profit
How is it calculated?
Net profit ($) = Sales revenue ($) – Total costs ($), measured monthly as a part of income statement.
Comment
In Marr’s book it is on the first position, from participative company perspective it is on the 40th. This does not change the fact that it conditions the existence of an enterprise and its development, and the security of its members.
41 Net profit margin (or Return on sales)
How is it calculated?
Net profit margin = (Net profit / Revenues) * 100, usually measured each month
Comment
It shows what percentage of revenue is net profit. Its value is specific for each industry. In the traditional accounting, it is a key indicator of how well a company is run. In participative company management it can only be evaluated in the context of other people-oriented indicators, as it can be easily increased at the cost of people.
42 Gross profit margin
How is it calculated?
Gross profit margin = (Revenue – Cost of goods sold / Revenues) * 100, usually measured each month
Comment
It is a ratio of production efficiency. It shows how much it costs a company to produce its goods and services and putting this in relation to sales revenue.
43 Operating profit margin
How is it calculated?
Operating profit margin = (Operating profit / Revenues) * 100, usually measured each month
Comment
The ratio provides insight into the profitability of sales generated from regular operations of the business. It shows how much money a company makes on each dollar of sales.
44 EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization)
How is it calculated?
EBIDTA = Revenue-Expenses, usually measured each month or quarterly
Comment
It is a measure of the company’s operational profitability over time, but taking out potentially distorting effects of changes in interest rates, taxes, depreciation and amortization, which can be manipulated.
45 Revenue growth rate
How is it calculated?
Revenue growth rate = (Revenue in the previous period / Revenues in the present period) * 100, usually measured each month or quarter in comparison to last year’s equivalent period.
Comment
This is one of the most dangerous indicators for participative companies as it assumes that businesses exist to make money and, accordingly, revenues should grow.
46 Total shareholder return (TSR)
How is it calculated?
Total shareholder value = [(Share price at the end of period t – Share price at the beginning of period t) + Dividends]/Share price at beginning of period
Comment
It shows how many shareholders earn their shares. Again, it is a very dangerous measure for participative companies as they may decide to invest the money instead of increasing dividends. Since their shares are not in the free market, the development of the co-op may not be reflected in the value of the shares, so it may be the dividend divided by shareholder value.
47 Economic value added (EVA)
How is it calculated?
EVA = (Net operating profit after taxes – (cost of capital * total capital employed), usually calculated each month
Comment
It is an estimate of a company’s economic profit. It shows how much money stays in the company and its value increases. It represents the interests of the investors (owners of the company). It is important for participatory company members whose goal is to increase the value of the participative company.
48 Return on investment (ROI)
How is it calculated?
ROI = (Gain from investment-Cost of investment) / Cost of investment, usually measured at the end of a program or at the end of a year.
Comment
Again a very dangerous indicator for participatory companies as it does not reflect other than financial gains from the co-op.
49 Return on capital employed (ROCE)
How is it calculated?
ROCE = Earnings before interest and tax / total capital employed, usually measured annually
Comment
Similarly, this is another indicator oriented toward measuring the financial consequences of participatory company activities. It may be important for potential outside investors.
50 Return on assets (ROA)
How is it calculated?
ROA = (Net income during period t / Total assets at the end of period t) * 100, usually calculated annually.
Comment
This is particularly useful when comparing similar companies. It is useful for participative companies because it indicates inefficient use of business assets.
51 Return on equity (RoE)
How is it calculated?
ROE = (Net income for period t / Average shareholder’s equity over period t) * 100, measured annually
Comment
This is often considered the most important financial ratio for investors and the best measure of management team performance. Again, it does not reflect other than financial goals of a participative company.
52 Debt-to-equity (D / E) Ratio
How is it calculated?
D / E Ratio = Total liabilities/Total equity, usually calculated annually.
Comment
The ratio helps to understand if the debts of a company are justified by its growth.
53 Cash conversion cycle (CCC)
How is it calculated?
CCC = Days inventory outstanding + Days sales outstanding – Days payable outstanding, usually measured annually
Comment
The data for the indicator comes from the analysis of sales records, inventory levels, and outstanding payments. It assists the length of time, in days, that it takes for an organization to convert resource into cash flow. It is a very important indicator for any organization as it reveals if there is going to be enough money for salaries. The indicator may encourage the organization to delay its payments to business partners. Such practice does not meet participatory company values and principles.
54 Working capital ratio
How is it calculated?
Working capital ratio = Current assets /Current liabilities, usually measured quarterly
Comment
It is a measure of current assets minus current liabilities and therefore measures how much in liquid assets a company has available to build and maintain its business.
55 Operating expense ratio (OER)
How is it calculated?
OER = (OPEX in period t / Sales revenue in period t )* 100, usually measured each month or quarterly.
where: OPEX is Operational expenses
Comment
Operating expenses are all day-to-day expenses a company needs to pay to operate. It tells you how expensive it is to run the company. This is an indicator valid for any organization, including participative companies.
56 CAPEX to sales ratio
How is it calculated?
CAPEX to sales ratio = (CAPEX in period t / Nest sales in period t) * 100, usually measured quarterly or less frequently.
Comment
Company investments or capital expenditures (CAPEX) are meant to secure the future of the company. Comparing CAPEX to sales gives a company a sense of how much it is investing for the future.
57 Price / earnings ratio (P / E ratio)
How is it calculated?
P / E ratio = Current price per share / Earnings per share, usually measured quarterly or annually
Comment
This indicator is related to the market of the company’s shares, so it does not make much sense for participative companies.
VI Operational processes and supply chain perspective
58 Six Sigma level
How is it calculated?
Six Sigma is defined as anything outside customer specifications, while Six Sigma is the total amount of chances for a defect.
Comment
Six Sigma is both a measure and a performance improvement methodology. As a methodology it represents a set of tools that enable continuous or, preferably, breakthrough performance.
59 Capacity utilization rate (CUR)
How is it calculated?
Capacity utilisation rate = (Actual capacity in time period t / Possible capacity in time period t) * 100,
Comment
Capacity utilization is a measure that provides insight into the extent to which a company actually uses its installed productive capacity.
60 Process waste level
How is it calculated?
Measuring the waste depends on the metrics for each waste type, but usually consists of simple counting or measuring.
Comment
Any expenditure of resources for any purpose other than the creation of value for the end customer is considered wasteful and therefore a target for improvement. Waste is therefore any activity that does not add value.
61 Order fulfilment cycle time (OFCT)
How is it calculated?
OFCT = Source cycle time +Make cycle time+Delivery cycle time.
Comment
OFCT is a continuous measurement defined as the amount of time from customer authorization of a sales order to customer receipt of the product.
62 Delivery in full, on time (DIFOT) rate
How is it calculated?
DIFOT = Units or orders delivered in full, on time / Total units or orders shipped
Comment
On-time delivery metrics provide an insight into the ability of a business to fulfill orders and meet customers’ expectations. It gives you insight into the effectiveness and efficiency of your internal processes and your supply chain.
63 Inventory shrinkage rate (ISR)
How is it calculated?
ISR = (IV1-IV2) / IV1
IV1 is the inventory you should have according to your records
IV2 is the actual inventory you have
Comment
Inventory shrinkage refers to the loss of product between the point where the product is produced or the point where it is sold.
64 Project schedule variance (PSV)
How is it calculated?
PSV = SCT-ACT
Where:
ACT is the actual completion time
SCT is the scheduled completion time
Comment
PSV is a simple comparison of the planned or planned project time and the actual time taken to complete the project. If PSV is zero, then the project was completed on scheduled time
65 Project cost variance (PCV)
How is it calculated?
PCV = SPC – APC
Where:
SPC is the scheduled project costs
APC is the actual project costs
Comment
PCV is a simple comparison of planned or planned project costs and the actual costs to complete the projects. If PCV is zero then the project was completed on budget.
66 Earned value (EV) metric
How is it calculated?
EV =% complete * BCWP
Where
BCWP is a budgeted cost of work performed = the total budgeted costs for labor and resources for the project.
Performance level = (ACWC / EV) * 100
Where
ACWC is the actual cost of work scheduled for the total amount in labor and resources that has been spent on the project to date.
Comment
EV is a project tracking measure that looks at the cost of work in progress and allows companies to understand how much work has been completed compared to how much they expected to be completed at a given point.
67 Innovation pipeline strength (IPS)
How is it calculated?
IPS = Sum (Innovation project * Future revenue potential)
Comment
The strength of the pipeline innovation may be assessed by estimating the revenue-generating potential for the product or services in development as well as the potential of completing the innovation and taking it to market.
68 Return on innovation investment (ROI2)
How is it calculated?
ROI2 = [(Net profit from new products and services) – (Innovation costs for these products and services)]/(Innovation cost for these products and services)
Comment
Measuring the return on innovation allows companies to compare the investments in new products and services with the profits generated by the new products and services.
69 Time to market
How is it calculated?
There are no standards for measuring time to market, and measured values can vary greatly.
Comment
Time to market can be defined as the time it takes from the conceptualization of a product idea to the time it is ready to be distributed.
70 First pass yield (FPY)
How is it calculated?
FPY (process q step a) = (number of units that complete process step a without defect or rework required / number of units entering the process a) * 100
FPY (process q) = FPY (process step a) * FPY (process step a) * FPY (process step a) * … * FPY (process step’n’)
Comment
By measuring first pass yield companies can see the percentage of items that are moving through the process without any problems such as requiring rework and scrapping of items, which would lower the output.
71 Rework level
How is it calculated?
Rework is a percentage of the products that are inspected that then requires rework. If 100 products are inspected, with 4 reworked (and then passed), the measure recorded is at 4% rework rate.
Comment
The cost of rework is a key quality metric (defined as a product that fails the specification laid down by the company but is capable of being altered in some way to exactly match the required specification).
72 Quality Index
How is it calculated?
The quality index comprises a number of measures. Each measure will be weighted according to its importance.
Comment
Quality can be defined as ‘the ability of a product or service to fully meet the customer’s expectations, or fit for the intended use of the customer’.
73 Overall equipment effectiveness (OEE)
How is it calculated?
OEE = Availability * Performance * Quality
Where:
Availability = Operating time / Planned production time
Performance = Ideal cycle time / (Operating time / Total pieces)
Quality = Good pieces / Total pieces
Comment
Overall equipment effectiveness is the KPI composite that measures output based on capacity taking into account process availability, efficiency, and quality.
74 Process or machine downtime level
How is it calculated?
Machine or process downtime level = (TAt / PPTt) * 100
Where:
PPTt is the planned productive time that a process or machine should be available in a given period t.
TAt is the actual productive time that a process or machine has been available in a give time period t.
Comment
Downtime is any productive time in which a machine or process is not available due to circumstances such as failures or maintenance.
75 First contact resolution (FCR)
How is it calculated?
FCR call statistics (A) = (Total number of queries) / (Total number of calls) * 100
FCR call statistics (B) = [(Number of resolved incidents closed on the first contact) / (Total number of incidents)] * 100
Comment
Contact centers are used to handle customer questions or complaints, provide service advice or technical support, and, of course, to business with customers. If you are resolving to customer problem at first contact it means that you are improving quality, reducing costs and improving customer satisfaction, all at the same time.
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[1] Marr, B. (2012). Key performance indicators. The 75 measures every manager needs to know. Marlow, England: Pearson.
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