“Key performance indicator,” or KPI, is defined by this year’s edition of Staffing Industry Analysts’ online Lexicon of workforce solutions ecosystem terms as a set of quantifiable measures that a company or industry uses to gauge or compare performance in terms of meeting their strategic and operational goals. KPIs vary between companies and industries, depending on their priorities or performance criteria. In contingent programs, KPIs include broadly defined metrics like time-to-fill or agency fill rate, to more granular metrics like invoice accuracy or VMS system uptime.

For the full definition, go to lexicon.staffingindustry.com. As the ecosystem evolves, SIA’s mission is to keep the language current for professionals in the space.