What gets measured, gets improved.” – Peter Drucker
What is HIPS?
Holistic Industry Productivity Scorecard is a self-diagnostic online tool, developed by SBF with DP Information Group as the knowledge partner, for companies to measure their productivity. It takes less than 5 minutes for companies to use HIPS to obtain their productivity scorecard containing 10 key indicators that illustrate a company’s holistic productivity and benchmark against industry peers.
Some enterprises lack the knowledge to compute relevant productivity indicators. HIPS provides a quick and easy means for companies to calculate their productivity performance.
For enterprises who know how to compute productivity performance on their own, the results can only yield limited insights as there is no benchmarking of their result with the industry performance. With HIPS, companies’ results are benchmarked against the relevant industry benchmarks. Currently, HIPS contains more than 12,000 datasets of Singapore-based companies’ productivity performances across all industry sectors from 2014.
Armed with this information, companies will know where they stand with regard to productivity performance and take actions to improve their business performance.
Click Here to Start Calculating Your Productivity Performance Now!
What is the science behind HIPS?
HIPS is designed within SPRING Singapore’s Integrated Management of Productivity Activities (IMPACT) framework. IMPACT is designed to help companies to manage productivity in a systematic manner. It includes the following 10 key productivity indicators that are used to diagnose a company’s productivity performance from the perspective of both creation and distribution of value-added and to compare it against other organisations.
- Labour Productivity
- Sales per Emplopyee
- Value added-to-sales ratio
- Capital Productivity
- Sales per Dollar of Capital
- Labour Cost Competitiveness
- Labour Cost per Employee
- Profit-to-Value added Ratio
- Profit Margin
For details of these indicators and their relationship with one another, please open this Annex extracted from “A Guide to Integrated Management of Productivity Activities” published by SPRING Singapore.
For scorecard result interpretation, please open this Annex extracted from “A Guide to Productivity Measurement” published by SPRING Singapore.