Skip to main content

How to answer "Why Should we hire you? " - Interview Tips

 Why Should we hire you?  Why should we hire you is another one of the most important job interview questions asked in the interview and if you are not prepared for this question well in advance then it will be the toughest. So prepare the answer beforehand. To answer this question then you should have a good understanding of the key requirements of the job. To answer this question you should highlight what makes you a perfect candidate for this specific job opportunity. Describing the selling points relevant to the job such as job experience, industry experience, technical skill and company cultural fit will ensure your success in getting this job opportunity. If the job opportunity requires a change in industry or career, you should convince the interviewer that your experience and background will match the new role. This has to be done i f your experience does not match directly with the job. And if the job candidate has little or no experience then you should convince the ...
Post a Comment

Difference between KRA and KPI Explained in Retail

KRA & KPI 

KRA, KPI, KRA and KPI, KRA vs KPI, Key Performance Indicators, Key Responsibility areas
KRA is abbreviated as Key Responsibility Area and
KPI is abbreviated as Key Performance Indicators

What is KRA?

KRA defines the job profile for the employee, and it will enable them to have better clarity of their role. KRA's for all the employees should be well defined, quantifiable, and easy to measure. It will help the employee to align their role with that of the organization. 

KRA's will not be the same for all the employees in the organization. The key area of HR manager will be different from the KRAs of sales manager. And similarly, the KRA's of managerial level in marketing company will be different when compared to the employee who is working in a technical firm. 

For example, the sales manager will be having KRAs, which include sales achievement top-line achievement, customer satisfaction, and so on so forth. Whereas the KRA of the HR manager will include recruitment and onboarding of suitable candidates, training and development of the employee, employee engagement, and succession planning. 

So KRAs will vary from organization to organization, and from one firm profile to another. There are no set rules to define KRA, but each employee has responsibilities based on their job profile. So these responsibilities are called Key Responsibility Areas. And usually, these are defined in the employee Job Description. 

So now that we have defined and understood the key performance indicators. Now let us understand what are key performance indicators.

Key Performance Indicators (KPI's) are the measurable indicators, which are used to gauge how well the business unit or organization is doing. So we can say that KPI is a subset of KRA, in other words, we can say that KPI is part of KRA's. 

For example, If KRA of Sales Manager is sales achievement, then the KPIs to measure KRA will be Percentage Sales Achievement, Average Selling price and Average Bill value, etc. 

And for the second KRA of Sales Manager which is Profitability(KRA) the corresponding KPI's are EBITDA, operational expense, gross margin, and net margin. 

In the same way, if the KRA of HR manager is Recruitment, then the corresponding KPI to measure recruitment would be: 

  • The average time taken to recruit the employee,
  • Performance score of new employees within the first six months,
  • The attrition rate of the existing and new employees. 

And now, if the KRA is training and development, then the KPI to measure the training and development would be:

  • Training Hours Per Employee Per Year
  • % difference in the rate of productivity before and after training

So friends this was a brief discussion about the KRA's and KPI's on our Retail and Marketing Management Discussion Forum. So we can see that KRA's are the basic responsibilities of the employee, which they are supposed to perform and KPI, are the evaluation techniques to see how well the KRA's are being performed by a particular employee.

Comments

Post a Comment

Popular posts from this blog

What is Planogram In Retail Management?

PLANOGRAM A planogram is a diagram that shows how and where specific retail products should be placed on retail shelves or displays in order to increase customer purchases. Planogramming is a skill used in merchandising and retail space planning. We all know that buildings are constructed with the help of architectural drawings. So in retail, a planogram relaces the architectural drawings. When the retailers open any new store, they should have an exact plan of product and fixture placement in the store, so the planogram will help in doing this activity. So the Planogram can be defined as architectural drawings which will help the retailer to understand where the merchandise should be stocked in order to catch the customer's attention and make maximum impact in the sales. Why Planogram needed? It helps in keeping the right stock at the right place It will help in proper space utilization It will help in maintaining the uniformity of the store: look and feel will be the same across ...
3 comments
Read more

What is Procurement and Steps Involved in Procurement Process

  What Is Procurement Procurement is the process of buying goods or services for business purposes. Procurement is a much broader term that includes purchasing also. So we can say that Purchasing is part of Procurement. Procurement involves sourcing and purchasing goods and services from an external source to fulfil the requirements of the organization which will lead to profitability and efficiency. Procurement involves all kinds of acquisitions which include leasing, renting, and contract to arrange goods and services. Procurement is done when we aim to acquire raw materials and supplies specifically for large businesses at a large scale, at the best possible price. Here various factors are considered like quality, quantity, and delivery time. Procurement is a simple purchasing arrangement specifically with a single supplier. The effective procurement process involves multiple stages like: Choosing Potential Supplier Negotiating the terms and prices Investigate the purchases Purc...
Post a Comment
Read more

How to Answer "Tell Me About Yourself" Interview Question

TELL ME ABOUT YOURSELF Tell Me About Yourself is the most common and guaranteed question in any of the interview processes. We know that this question will be the first question in all types of interviews but still, most of the candidates go unprepared for this question.  There are certain rules or rather I would say there are some tips we should remember when we are answering this question: 1. Keep the Introduction Short - Finish the answer with 60 to 70 seconds. If you drag about yourself then the interviewer might get bored. 2. There are 2 ways to answer this question - Start from your present and go descending covering your past experience and education or you can start from your past and go ascending covering till your present expertise and work. 3. Don't memorize the answer - be natural and practice this every till the day you become perfect in this introduction. 4. The answer should be according to the role and company. 5. Be crisp and clear in telling about yourself, do...
Post a Comment
Read more