The old adage of, “If you can’t measure it, you can’t manage it,” couldn’t be more true. But it can be challenging for organizations to decide exactly what to measure in the deluge of data that modern fleet technology provides. That’s where key performance indicators (KPIs) come into play.
What are Key Performance Indicators?
KPIs are quantifiable metrics that measure your safety program’s performance over time. They are a specific target to aim for, such as reducing your collision rate by a certain percentage or improving your driver retention rate. These KPIs should reflect your fleet’s most important safety goals so you can effectively demonstrate ROI. Achieving your KPIs will have clear benefits—such as lowered costs, increased efficiencies, improved retention, and reduced risk. Because KPIs are measurable, there is always a link to your bottom line. When you hit your goals, it boosts your profits.
Below are four examples of KPIs commonly used by fleets to evaluate the success of their coaching and employee engagement efforts. While they measure different aspects of your programs, each is an indicator of efficiency in some way. If you focus on these KPIs, your coaching programs and driver behavior should get better and more efficient, which will improve your overall safety and bottom line.
Watch this short video to learn how KPIs work and what are each of the metrics.
Viewing your Key Performance Indicators
After logging in, head to Insights and select Program Status Report.
KPI #1: Coaching effectiveness
The percentage of behaviors that have not been not repeated within 60 days after a driver received coaching. That means if a driver is coached on a behavior and then repeats the same behavior within 60 days, this will bring your Coaching Effectiveness score down. Conversely, if the driver goes 60 days without repeating the same behavior the Coaching Effectiveness score goes up. As the percentage of risky driving behaviors decrease, you’ll know that your coaching effectiveness and fleet safety is increasing
KPI #2: Unassigned drivers
The percentage of coachable events that have not yet been assigned a driver. It’s important to know which drivers are assigned to which cameras so that if coachable events are triggered, you are able to coach in a timely manner. A high percentage on this KPI indicates you have an inefficiency—you’re not leveraging the cameras to their full capacity or properly prioritizing driver coaching.
Watch this short video to learn how to review and achieve this KPI.
KPI #3: Overdue for download
The percentage of event recorders in a group that have not checked in four days or more. It’s important to have your device check in often so that you maintain a connection to cellular service in case there is a critical event to capture. Again, this KPI is an indicator of efficiency and whether you’re using assets to their full capacity.
Watch this short video to learn how to review and achieve this KPI.
KPI #4: Overdue for coaching
The percentage of events that have not been coached in over four days. Timely coaching leads to improved driving behaviors that lower risk for your fleet. Ultimately, having a low percentage on this KPI indicates you have a structured, effective coaching program that increases safety and engages drivers.
Watch this short video to learn how to review and achieve this KPI along with subscribing to this automated report.
These are just a handful of KPI examples. There are many more KPIs you can use to measure your fleet’s efficiency and safety, and understand where your bottom line is being impacted most. If you’d like more examples or guidance on how to interpret your Program Status Report, contact your Client Success Manager.