There are classic indicators such as labor productivity. Although I am very interested in knowing different experiences with indicators both in the pharmaceutical sector and the hotel sector,
Might you consider examining -effective management of the organization of work as reported by employees? What do employees perceive/experience as "effective management of work"?
You may also look into the effectiveness of the following areas: Communication Effectiveness, Customer Satisfaction, Supplier Relationships, Project Management, Brand Image and Employee Competence. All these are indicators of an organizational success and effectiveness.
I like the MLQ 5X. You might measure the employee perceptions of the extent to which their manager meets their work related needs for example. Yes, you would use a survey. I recommend using an existing tool.
In the past, I've looked at (using MLQ 5X) interpersonal perceptions of satisfaction, effectiveness, and motivation in working relationships. Now I am most curious about finding value-added.