Setting KPIs for Life

Authored by Hersh Bhandarii, COO, Republic World.

In business, Key Performance Indicators, popularly known as KPIs, are powerful tools to measure success and to set action plans in place. KPIs measure everything from lead conversion to sales targets, sales volumes, prices and more.

In most organisations, KPIs are everything – the subject of most conversations, the individual priorities of each employee, and the basis of every action to be taken, or not taken, and how they, in turn, will affect the larger goals of the organisation.

KPI targets dictate an organisation’s annual goals, their operational functions, as well as the metrics by which progress may be measured. KPIs work backwards, setting clear, precise and measurable sub-goals to achieve on the road to the Big Goals of Productivity, Performance, Profit and more.

Once KPIs are set, the tedious task of working towards and delivering on the Big Goals may begin.

Now, think of your own life. Like most of us, I imagine that you too have Big Goals and Small Goals that you would like to achieve. Something that worked for me was to think of my goals in the same manner as I would if I were not an individual, but an organisation, working to achieve my objectives via measurable KPIs.

That’s right. KPIs can extend beyond the workplace, and serve as a roadmap for achieving our ambitions and goals.

Maybe you want to make more time to spend with your family, learn how to play an instrument, or drive a car. Maybe, your goal is to reconnect with your passion, such as playing a sport or expanding your horizons by learning a new subject or skill.

The idea is to imagine your ideal future self, and set personal, measurable KPIs towards achieving that goal.

For so many of us, including myself, a major goal is to achieve a healthy balance between work and life, between professional ambition and personal satisfaction.

While your workplace can aid you in setting professional KPIs, which are deeply intertwined with inter-departmental goals for the organisation as a whole, Life KPIs are no one’s business but our own.

This can be an intimidating thought, but in the end, is just as rewarding (if not more) as an annual bonus for hitting your targets.

So, how does one go about setting personal KPIs? Luckily, there is a simple process to follow while setting KPIs, both in business, as well as in life.

To start with, ask yourself these questions:

• What is the end goal?
• Why does it matter to me?
• How long will it take to achieve this goal?
• What metrics of measurement can I use to keep track of my progress?
• How often will I measure progress?
• How will I know when I have reached my desired goal?

This is how I arrived at my own KPIs – Passion, Physicality, Prosperity, Pursuit and Purpose. Let’s break these down individually:

• Passion: Passion originates in the heart. It refers to those things in life that evoke a sense of joy. Whether you are passionate about music, art, food, sports, or travel, your passion projects leave you feeling elated and whole. However, over-indulgence or a lack of structure in pursuing our passions can be counterproductive. For example, if you are trying to perfect a certain recipe or learn an instrument, simply twiddling with keys and strings or reading about the various elements of our dish is not enough. You must set an achievable target of hours of practice, as well as experimentation, to get closer to your end goal.
• Physicality: Physicality in this context relates to your physical being. While most people tend to push themselves to extreme limits to satisfy the needs of their jobs and professions, the self is often lost in the process. Caring for your physical health is one of the most vital pursuits for individuals of any age. Ensuring that your body is healthy, and functioning to the best of its capabilities optimises your performance, both in the workplace and outside of it. Eat right, exercise, and take care of your physicality. Your physical self also serves another vital function: reminding you to be present in the here and now. Take some time to reflect upon your environment and your role within it.
• Prosperity: Prosperity refers to your tangible success, measured by financial stability and professional growth. While this KPI is often the one most reinforced by modern societal and organisational structures, it is vital to invest equal time in your other KPIs to ensure a balance of professional and personal.
• Pursuit: Pursuit is deeply entangled with the goal of passion. While passion refers to the sense of joy evoked by indulging in the things you are passionate about, Pursuit refers to the sense of fulfilment evoked by the act of participation in achieving your passion. While passion is born in the heart, the pursuit is driven by the mind. It is the will and ability to strive for better and realise your goals to your satisfaction.
• Purpose: Finally, and perhaps the most important KPI on this list, is the discovery of your inner purpose. To me, my purpose is derived from my ability to lead by example, to share my experiences with those I care for, and to learn from their own experiences in return. Discovering your purpose is perhaps the hardest, and yet, the most intuitive and simple goal you will ever achieve. Your Purpose is dictated by your principles, values and beliefs, and must align with your inner drives and motivations.

While setting your KPIs, it is important to keep in mind that your goals may change or evolve, but your path to achieving them, as well as the little, measurable actions taken in the process, remain constant. Without dedication to your goals and the KPIs you set for yourself, the process is incomplete.

So, what are your Life KPIs?