The Governance Center is designed to solve business challenges related to managing corporate knowledge that's focused on implementing policies and procedures. Ensure your Governance Center Solution delivers the results you need by measuring its success using key performance indicators (KPIs).
Measuring against KPIs specific to the Governance Center allows you to determine:
- Which areas are successful at improving knowledge management of governance information?
- Which areas need improvement to better support the management of governance documentation?
- What additional goals and objectives are needed to continue to address the challenges related to managing corporate policies and procedures?
- What people-focused goals and objectives have helped ensure that corporate policies and procedures are accessible to all employees?
- What information-focused goals will continue to ensure effective management of governance documentation?
- What process-focused goals will support governance teams as they work to ensure compliance with corporate policies and procedures?
Key goals and objectives
Some key goals and objectives to keep in mind when determining KPIs for your Governance Center include:
- Improving risk management and mitigation
- Auditing control and efficiencies
- Regulating compliance
You should incorporate your Governance Center Solution into your existing internal business processes. Think about what processes, policies or procedures might have to change or be updated.
- Do SOPs need to be updated? (e.g. updating or changing corporate policies or procedural documents)
- Are there processes that need to change? (e.g. getting approvals of changes to governance documentation)
Key areas to pay close attention to when measuring the success of your Governance Center include:
- Policy Center
- Governance Committee Team Room
- Governance News & Updates Center
- Legislation area
Below are recommended KPIs for measuring the success of your Governance Center Solution. Keep in mind that some of these recommended KPIs will align with your organization's goals and objectives, while others may not. It's critical to align KPIs with your unique goals and objectives to accurately measure success.
- X% Agree to Completely Agree Rating for "I have a good understanding of corporate policies and procedures" (through Onboarding Survey)
- X% decrease in the number of emails about where to find departmental policies
- X% increase in page traffic coming from email subscriptions
- Minimum of one new version (update) of each policy annually
- X% decrease in the number of incomplete employee records (missing policy acknowledgment)
- Average of X to X minutes spent on Policy Index articles (are employees actually consuming policies?)
- X% increase in the number of Followers of the Files and Resources area of the Governance Center
- X% increase in the number of Followers of the Policy Index area of the Governance Center
- 100% Read Tracking completed for all company-wide policies in the Policy Index
- X% decrease in the number of emails received by senior management regarding policies and procedures found in the Governance Center
- X% decrease in time spent maintaining/updating policies and procedures
- X% decrease in approval time for draft policies
Note: KPIs are generally time-based and should be evaluated and/or modified on a specific cadence (e.g. quarterly).