Key Performance Indicators (KPIs) for Business Functional Areas

What are the key performance indicators (KPIs) for Sonic Selection in Marketing & Sales and Human Resources?

Business functional area: Marketing & Sales

  • KPI 1:
  • KPI 2:
Business functional area: Human Resources
  • KPI 1:
  • KPI 2:

Final answer:

The KPIs for Marketing & Sales are Conversion Rate, measured monthly, and Customer Lifetime Value, tracked annually. For Human Resources, the KPIs are Employee Turnover Rate, assessed annually, and Average Time to Fill a Position, monitored monthly.

Explanation:

Marketing & Sales KPI 1: Conversion Rate - This KPI measures the percentage of leads that turn into customers. It is tracked by dividing the number of sales by the number of leads and is usually measured monthly to assess the effectiveness of marketing strategies.

Marketing & Sales KPI 2: Customer Lifetime Value (CLV) - The CLV calculates the total revenue a business can expect from a single customer account throughout the business relationship, tracked annually to inform customer retention strategies and marketing spend.

Key Performance Indicators (KPIs) for Human Resources

HR KPI 1: Employee Turnover Rate - This KPI tracks the percentage of employees who leave the company within a specified time frame, typically measured annually to monitor employee retention and understand the health of the organization's culture.

HR KPI 2: Average Time to Fill a Position - It measures the average number of days it takes to fill an open position from the job posting to the offer acceptance, usually tracked and reported monthly to gauge the efficiency of the hiring process.

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