I have been doing some research on the internet on KRA and KPI. Someone told me that...
KPI are a bunch of measurements focused on Finance, Customer, LearningGrowth, Internal Business Process and is a SUBSET of KRAs
It's used to indicate progress of Tactical/Operational (Short term) plans.
Key result area (KRAs) = a series identified important outcomes formulated to deliver upon organisational business plans and is linked to
Strategic plan(Intermediate/Long term).
Is the above accurate? I always have the impression that KRA and KPI is the same thing, just different terminology.
In very simple language KRA'a describes the roles & responsibilities a person perform in a position.
KPI's means the performance indicators to prove that the defined roles are met satisfactorily.
For ex: For a HR Manager KRA'a will be
Recruitment & selection
Training & development
Handling employee grievances
KRI's for the above shall be
Recrutiment of a new candidate in case of new vacancy, exit or new position should be completed in 25 man days.
Need of training is properly identified before placing the person on job.
Employee complaints & grievances should be resolved in 7 man days.
So, KRA'a & KPI's go hand in hand.
KPIs are quantifiable measures used to measure the critical success factors within an organization to determine the organization's performance level. KPI is a measurement or indicator that provides information on how far the company has succeeded in achieving its strategic objectives. Thus, KPIs are critical for the measurement of organization performance.
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