- Process Metrics
Process metrics are an invaluable tool for companies wanting to monitor, evaluate, and improve their operational performance across the enterprise. But for a combination of reasons, companies often fail to use process metrics to the extent that they could and should. For example, in recent research The Hackett Group found that fewer than half of human resources organizations employ any formal HR metrics for measuring the business value of the HR function; and only about 20% of HR organizations use metrics to gauge the impact of training on performance. Similar insights can also be gained for other processes such as finance, IT, procurement and throughout the supply chain.
The under-use of process metrics most likely stems from uncertainty about which metrics to use, how to perform measurements, and how to interpret results.
The Hackett Group: Unmatched Process Metrics Expertise
The Hackett Group, a leading global strategy and operations consulting firm, offers unparalleled experience and expertise in using process metrics to drive operational performance improvements. Process metrics are integral to our proprietary best practices benchmarking database, the world’s most comprehensive repository of business performance measurement and analysis. Developed through more than 17,850 benchmarking engagements with nearly 5,900 major global corporations, our proprietary performance measurement database is built around a rigorously defined process taxonomy and hundreds of process metrics. The process metrics by which we gauge operational performance are both quantitative (such as cost, cycle time, productivity, and error rate) and qualitative (such as alignment with corporate strategy, or level of technology utilization).
Using rigorously defined process metrics and careful measurement, The Hackett Group designates “world-class” performing organizations as those that rank in the top quartile of companies in both efficiency measures and effectiveness measures. We then identify the operational best practices that correlate with this world-class performance. Employing this methodology, The Hackett Group has cataloged more than 1,400 best practices across nearly 100 specific process areas.
Leverage the Power of Process Metrics in Your Business
The Hackett Group offers a range of services to help companies leverage process metrics to drive improved performance, including:
- Business advisory programs that give finance, human resources, procurement, and information technology leaders online access to our process metrics and performance benchmarking database.
- Benchmarking services to help you baseline your current performance and to size the gaps between your performance and that of world-class performing organizations.
- Process transformation support services to help you plan and implement process improvement initiatives, using process metrics to measure your progress.
To learn more about how The Hackett Group can help you leverage process metrics in your business, or about specific consulting services such as our support for IT outsourcing, finance outsourcing, global business services and more, contact us.