What are Risk Manager metrics? Finding the right Risk Manager metrics can seem daunting, particularly when you're focused on your daily workload. For this reason, we've compiled a selection of examples to fuel your inspiration.
Copy these examples into your preferred app, or you can also use Tability to keep yourself accountable.
Find Risk Manager metrics with AI While we have some examples available, it's likely that you'll have specific scenarios that aren't covered here. You can use our free AI metrics generator below to generate your own strategies.
Examples of Risk Manager metrics and KPIs 1. Case Resolution Time The average time taken to resolve individual cases from initiation to closure
What good looks like for this metric: 3-6 months
Ideas to improve this metric Establish clear procedures for case handling Use automated systems for case tracking Enhance communication between involved parties Provide regular training for case managers Regularly review unresolved cases to identify bottlenecks 2. Success Rate of Resolutions The percentage of cases resolved without escalation or legal proceedings
What good looks like for this metric: 70-85%
Ideas to improve this metric Invest in training for negotiation skills Implement mediation before litigation Track and analyse unsuccessful cases for improvements Establish a collaborative problem-solving approach Regularly update dispute resolution policies 3. Number of Cases Per Employee The average number of IR & CCMA cases managed per employee
What good looks like for this metric: 1-3 cases per year
Ideas to improve this metric Allocate dedicated case managers Ensure balanced distribution of cases Monitor individual case manager workloads Implement preventative measures to reduce cases Offer support services to employees to prevent issues 4. Employee Satisfaction with Resolution Process A measure of how satisfied employees are with the case resolution process
What good looks like for this metric: 80% satisfaction
Ideas to improve this metric Conduct regular surveys post-resolution Incorporate feedback into process improvement Enhance transparency of the process Provide clear communication throughout the process Offer employee support services during the process 5. Cost of Resolution Per Case The average cost incurred by the company per resolved case
What good looks like for this metric: $500-$2,000
Ideas to improve this metric Reduce legal costs through internal mediation Implement cost-effective dispute resolution methods Analyse high-cost cases for learning Use technology to streamline processes Negotiate vendor contracts for better rates
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1. Audit Completion Rate The percentage of planned audits completed in a given period
What good looks like for this metric: 90%-95% completion rate
Ideas to improve this metric Set clear priorities for audits Allocate resources effectively Enhance time management skills Streamline audit processes Regularly review audit plans 2. Number of Findings per Audit Average number of findings identified during each audit
What good looks like for this metric: 2-5 findings per audit
Ideas to improve this metric Improve risk assessment techniques Incorporate data analytics in audits Enhance auditor training programmes Focus on high-risk areas Use checklists to standardise audits 3. Implementation Rate of Audit Recommendations Percentage of audit recommendations implemented within the agreed timelines
What good looks like for this metric: 80% implementation within 90 days
Ideas to improve this metric Ensure recommendations are actionable Engage with auditees to understand constraints Follow up regularly on recommendations Provide practical solutions Prioritise high-impact recommendations 4. External Audit Discrepancy Comparison between internal audit findings and external audit findings
What good looks like for this metric: Less than 5% discrepancy
Ideas to improve this metric Align internal audit focus with external audits Improve coordination with external auditors Regularly update auditing standards Review and improve audit documentation Provide sufficient training to internal auditors 5. Audit Cost Efficiency Cost of auditing per audit presented as a value component to business value
What good looks like for this metric: $5,000-$10,000 per audit
Ideas to improve this metric Implement cost-saving technologies Opt for risk-based audit planning Streamline the audit process Utilise a hybrid auditing team (internal and external) Automate repetitive tasks where possible
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1. Compliance Training Completion Rate The percentage of employees within the supply chain who have completed mandatory compliance training.
What good looks like for this metric: 85% - 95%
Ideas to improve this metric Automate training reminders Offer flexible training schedules Incorporate engaging training methods Provide training in multiple languages Set training completion as a performance goal 2. Supplier Audit Pass Rate The percentage of suppliers who pass compliance audits within the value chain.
What good looks like for this metric: 80% - 90%
Ideas to improve this metric Develop clear audit criteria Conduct pre-audit supplier workshops Provide suppliers with feedback reports Create incentives for high compliance rates Simplify the audit process 3. Incident Response Time The average time taken to respond to and address compliance-related incidents within the value chain.
What good looks like for this metric: 48 - 72 hours
Ideas to improve this metric Implement incident monitoring systems Establish clear incident response protocols Train a dedicated incident response team Regularly review and update response plans Utilise data analytics for quicker incident detection 4. Policy Violation Rate The frequency of policy violations detected across the value chain.
What good looks like for this metric: 5% - 10%
Ideas to improve this metric Communicate policies clearly and regularly Ensure policies are easily accessible Implement immediate consequences for violations Involve employees in policy-making Conduct regular policy reviews and updates 5. Stakeholder Feedback Score The average score reflecting the satisfaction of stakeholders with the organisation's compliance efforts across the value chain.
What good looks like for this metric: 8 out of 10
Ideas to improve this metric Conduct regular stakeholder surveys Act on feedback promptly Maintain open communication channels Involve stakeholders in compliance discussions Celebrate compliance achievements with stakeholders
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Tracking your Risk Manager metrics Having a plan is one thing, sticking to it is another.
Don't fall into the set-and-forget trap. It is important to adopt a weekly check-in process to keep your strategy agile – otherwise this is nothing more than a reporting exercise.
A tool like Tability can also help you by combining AI and goal-setting to keep you on track.
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