Tracking key performance indicators (KPIs) is a critical aspect of measuring business performance and efficiency. Through monitoring sales figures, customer satisfaction, and employee productivity, KPIs provide valuable insight into the success of a company and help identify areas that may need improvement.
By establishing clear and measurable goals, and regularly monitoring progress towards those goals, businesses can make data-driven decisions that lead to increased growth and profitability.
Using KPIs is particularly important when outsourcing tasks, such as hiring administrative support through a Managed Services provider.
Beneficial Measures
Outsourcing executive assistant roles can provide significant cost savings and access to a wider pool of talent, however it also brings added complexity to performance monitoring. Working with the service provider to establish clear KPI directives for executive assistants at the beginning of their assignments can help set fair work expectations, eliminate confusion, and lay the foundation for a smooth professional relationship.
Virtual Executive Assistant (VEA) service providers also rely on KPIs to help them provide the best possible service to clients. By tracking quality and performance from various perspectives, and using the information gathered in a beneficial way, partnerships are formed both between the provider and client, as well as the executive and VEA.
Commonly tracked KPIs include:
Customer satisfaction is one of the most important KPIs for providers to track. Measuring this indicator can be thought of as a way of “taking vitals” on overall performance. Monitoring satisfaction is a measure toward good customer service and provides a baseline for other metrics. Much like a patient’s elevated blood pressure can signal a potential underlying condition, diminished customer satisfaction could indicate the need to investigate potential issues related to quality of work or adherence to protocols.
By regularly monitoring customer satisfaction through surveys and open dialogue with clients, VEA providers can identify areas for improvement and make necessary adjustments before bigger issues arise.
Quality of work is another essential indicator used to gauge the on-the-job performance of a VEA. It can be a tricky metric to work with due to its somewhat subjective nature. Clearly defining expectations of quality and how it will be measured and tracked at the outset of the Executive/VEA relationship is key to getting ideal results.
Quality of work can be measured by monitoring verbal and written communication, and by observing the VEA’s level of adherence to established company guidelines, protocols, and procedures. Though some quality indicators may be intangible or difficult to track, identifying and using concrete standards as much as possible helps to maintain objectivity and provides a framework for discussing the more abstract aspects of an assistant’s job performance.
Depending on the nature of the business, the work of a VEA likely involves leveraging specific processes and tools. Because some tasks may require a higher or more specialized level of skill from an assistant, finding a VEA who is the right fit to handle the job is critical. Whether managing a CRM, assisting with document preparation, or carrying out other specialized tasks, executives have needs unique to them that must be managed by their assistant. Metrics can be developed with the service provider to measure success in these less common areas.
It is also necessary to regularly monitor operational and process metrics specific to the assistant’s role. If the VEA isn’t meeting expectations in specialized areas, this might simply be a sign that another assistant with a different skill set would be a better fit.
The VEA’s personal job satisfaction is often overlooked, however it is an important KPI to monitor. VEAs and other support staff carry out a plethora of job functions daily, many of which go unnoticed by their supervisors.
An assistant’s role exists for the primary purpose of helping things run smoothly in the background, allowing executives to focus on their core duties. When the assistant feels appreciated for their work, appropriately challenged, and aware of the overall expectations, they will have a higher level of job satisfaction. Checking in on a VEA’s employee satisfaction can:
Utilizing KPIs to evaluate performance is an excellent way to maintain a healthy partnership between Executive and VEA. Finding the right assistant is the other key to success. Enlisting a qualified partner like Cayuse can help you identify remote assistants whose unique skillsets complement your business needs, while also establishing an effective KPI system to appropriately monitor and report on performance and satisfaction.
Forbes reports that the realm of administrative support falls within the top ten industries switching to remote work in 2024. Such work didn't appear in this same list for 2023, which indicates a huge shift in the way executives should think about and recruit their support staff.
When you have high caliber professionals on your team, a trustworthy staffing partner by your side, and sensible KPIs for continued improvement, you will be well on your way to achieving your business goals with greater ease and efficiency.
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