Introduction
In the world of education, schools use key performance indicators (KPIs) to measure and evaluate the success of their programs. KPIs help schools understand where their programs are succeeding and where improvement is needed. When it comes to foreign language teaching, there are seven key metrics schools should track and calculate.
- Course enrollment rate
- Retention rate
- Client satisfaction
- Average class size
- Return on investment
- Graduation rate
- Instruction cost per lesson
Course enrollment rate
Definition
Course enrollment rate (CER) is a metric that measures the number of students enrolled in a foreign language course at a school. This metric is used to gauge the success of a school’s foreign language program, as it indicates how many students are actively participating in foreign language classes.
Benefits of Tracking
By following CER, schools are able to monitor the effectiveness of their foreign language program. Schools can benchmark their REB against other schools and industry benchmarks to ensure their program is competitive. Monitoring the CER also allows schools to identify areas for improvement, such as offering more language classes or increasing the quality of existing classes.
Industry Benchmarks
The average CER is usually around 50%. This means that on average half of the students enrolled in a school are enrolled in a foreign language course. A school’s REB can be compared to the industry benchmark to determine if its foreign language program is effective. For example, if a school’s REB is higher than the industry benchmark, it could indicate that the school’s foreign language program is succeeding.
How to calculate
The formula to calculate CER is:
Calculation example
For example, if there are 200 students enrolled in a school and 80 of them are enrolled in foreign language courses, the CER would be:
Tips and tricks
- Track CER regularly to ensure your foreign language program is competitive and successful.
- Compare your REC with industry benchmarks to identify areas for improvement.
- Encourage students to enroll in foreign language courses to increase the CER.
Retention rate
Definition
The retention rate measures the percentage of students who return to school after the first year. It is an important indicator of the school’s effectiveness in attracting and retaining students.
Benefits of Tracking
- Helps measure student satisfaction with their education.
- Allows schools to track their success in retaining students.
- Provides an overview of the school’s performance compared to other schools.
Industry Benchmarks
The average retention rate of foreign language schools is around 80%. Schools should aim to seek a retention rate of 85% or higher to ensure they meet industry standards.
How to calculate
The retention rate can be calculated by dividing the number of students who return to school after their first year by the total number of students enrolled in the first year.
Calculation example
A foreign language school has 500 students enrolled in their first year. 450 students return for the second year. The retention rate of this school is:
Tips and tricks
- Monitor retention rate over time to identify trends or changes.
- Encourage students to attend school by offering incentives or discounts.
- Focus on improving student satisfaction by providing quality education.
Client satisfaction
Definition
Customer Satisfaction (CSAT) is a KPI used to measure how satisfied customers are with a product, service, or experience. It is usually measured with a survey that asks customers to rate their experience on a scale of 1 to 5. The higher the rating, the higher the customer satisfaction.
Benefits of Tracking
Tracking customer satisfaction is important for businesses because it can help them identify areas for improvement. It can also provide insight into customer expectations and the effectiveness of a business in meeting those expectations. Tracking customer satisfaction can also help inform marketing and customer service strategies.
Industry Benchmarks
The industry benchmark for customer satisfaction varies by industry and company. Generally, a score of 3 or more on a 5-point scale is considered a good rating. A score of 4 or more is considered excellent. Companies should regularly track their customer satisfaction and strive to exceed industry benchmarks.
How to calculate
Customer satisfaction is typically measured by asking customers to rate their experience on a 5-point scale. The average rating is then calculated by adding all the ratings together and dividing by the number of ratings. The formula for calculating customer satisfaction is:
Calculation example
For example, let’s say a business received 10 ratings from customers. The ratings are as follows: 2, 4, 4, 5, 2, 4, 4, 5, 3 and 4. The average rating can be calculated using the following formula:
In this example, the customer satisfaction score is 3.8, which is considered good.
Tips and tricks
- Track customer satisfaction regularly to identify areas for improvement.
- Encourage customers to provide feedback, as this can be helpful in understanding customer expectations.
- Use customer satisfaction scores to inform marketing and customer service strategies.
- Be sure to track customer satisfaction scores over time to measure progress.
Average class size
Definition
Average class size is a KPI metric that measures the average number of students in a foreign language class. This metric is used to gauge the size of a school’s foreign language lessons and can be used as an indicator of a school’s overall educational quality.
Benefits of Tracking
Tracking average class size offers several benefits for schools. First, it allows schools to measure the success of their foreign language programs. It also allows schools to ensure that classes are not overcrowded and that students receive the best possible education. Additionally, tracking this metric can provide valuable insights into student engagement and satisfaction with foreign language classes.
Industry Benchmarks
The industry standard for average class size is usually around 20 students. However, this number may vary depending on the school and the type of foreign language class taught. In some cases, smaller classes may be more beneficial for students, while larger classes may be more profitable for the school.
How to calculate
The average class size is calculated by dividing the total number of students in a foreign language class by the number of classes. The formula is:
Calculation example
For example, if a school has 10 foreign language classes with a total of 200 students, the average class size would be 20 (200/10 = 20).
Tips and tricks
- Ensure classes are not overcrowded to maximize student engagement and satisfaction.
- Consider the profitability of larger classes.
- Track average class size over time to get an accurate measure of the school’s foreign language curriculum.
Return on investment
Definition
Return on investment (ROI) is a measure of the performance of an investment or business. It is the ratio of the net gain or profit of the investment and the cost of the investment. It is usually expressed as a percentage or a ratio.
Benefits of Tracking
- It provides an objective measure of the success of an investment.
- It helps investors determine the profitability of their investments.
- It provides feedback to investors on the performance of their investments.
- It can be used to compare the performance of different investments.
Industry Benchmarks
Industry benchmarks for return on investment (ROI) vary depending on the type of investment. Generally, investments should have a return of at least 10% to be considered profitable.
How to calculate
Return on investment (ROI) is calculated by dividing the net gain or profit of the investment by the cost of the investment. The ROI formula is as follows:
Calculation example
For example, if an investment has a cost of ,000 and a net gain or profit of ,000, the return on investment (ROI) would be calculated as follows:
Tips and tricks
- It is important to consider the time frame of the investment when calculating the return on investment.
- Be sure to use accurate costs and gains when calculating ROI.
- It is important to compare the ROI of different investments.
- ROI should be considered along with other factors when making an investment decision.
Graduation rate
Definition
The graduation rate is a measure of the number of students who complete their studies within a specified time. It is often measured by the percentage of students who have completed their studies within a certain time frame compared to the total number of students in the program.
Benefits of Tracking
Tracking the graduation rate of foreign language schools is important for a variety of reasons. First, it provides an indication of the quality of the program and the level of student engagement. It can also provide insight into the success of the school to support and motivate students. Finally, it can provide an indication of the overall value of the program.
Industry Benchmarks
The average graduation rate for foreign language schools varies from country to country and from language to language. Generally speaking, however, the average graduation rate for foreign language schools is around 70-80%.
How to calculate
The graduation rate can be calculated by dividing the number of students who have completed the program by the total number of students enrolled in the program. The formula for this calculation is as follows:
Calculation example
For example, if a foreign language school has 100 students enrolled and 80 of them have completed the program, the graduation rate would be 80%. This can be calculated using the following formula:
Tips and tricks
- It is important to track the graduation rate over time to identify any changes or trends.
- It is also important to compare the school’s graduation rate to industry benchmarks to gauge the school’s performance.
- To ensure accuracy, it is important to track only students who have completed the program within the specified time frame.
- It is also important to track the graduation rate of different groups of students, such as those attending full-time or part-time.
Instruction cost per lesson
Definition
The teaching cost per course KPI is a metric used to measure the total cost associated with teaching foreign language courses. This KPI takes into account the salaries of instructors, teaching materials, resources and other associated costs. This is an important metric for schools to track in order to understand the financial performance of the foreign language program.
Benefits of Tracking
Tracking the cost of teaching per lesson can provide a number of benefits to foreign language schools. By understanding the total cost associated with teaching foreign language courses, schools can make informed decisions about their programs. Additionally, tracking this KPI can help schools identify areas for improvement and cost reduction. Plus, schools can use the data to benchmark their performance against industry benchmarks.
Industry Benchmarks
Industry benchmarks for teaching cost per KPI course vary depending on the type of language courses taught. Benchmarks also vary depending on the size of the school and its resources. Generally, however, the cost of teaching should not exceed 30% of the school’s total turnover.
How to calculate
The cost of instruction per course KPI can be calculated using the following formula:
Calculation example
For example, if a school has a total teaching cost of ,000 and it offers 10 language courses, the teaching cost per course KPI can be calculated as follows:
KPI Tips and Tricks
- It is important to monitor this KPI regularly to ensure that the foreign language program is operating at optimal levels.
- It is also important to understand the total cost of teaching taking into account instructor salaries, teaching materials and other associated costs.
- It is also important to benchmark the performance of the foreign language program against industry benchmarks to identify areas for improvement.
Conclusion
Schools should regularly track and calculate key performance indicators to better understand the success of their foreign language programs. With these seven important measures, schools can evaluate their programs and make the necessary adjustments to ensure the best educational experience for their students. By tracking and calculating these metrics, schools will have the information they need to improve their programs and ensure that students get the most out of their language learning experience.
- Home
- Course enrollment rate
- Retention rate
- Client satisfaction
- Average class size
- Return on investment
- Graduation rate
- Instruction cost per lesson