The recent years have seen a surge in the number of new terminologies and breakthroughs that have intensified the technological aspect of business. This includes, but is not limited to the likes of cloud computing, social media integration, web applications and many more.
Human resource is the most important resource for any business. The success of a business depends a lot on employee performance. Quantifying employee performance from its seemingly qualitative nature can make your business more accountable. In case you are postponing this indefinitely, here are the 3 benefits that you are missing out on:
1. Efficiency Enhancement
Improving the efficiency of your workforce, and quantifying employee performance is one of the biggest advantages of business workforce analytics.
Workforce management software is an easy way of doing the same without needing to sweat over the whole process. HR Softwares help you schedule shift timings of employees, keep track of their leaves, analyze their performance, and other such aspects that help improve the overall efficiency of the organization.
2. Financial Benefits
Another advantage with workforce analytics is quantifying exactly how much money each employee in bringing into the company. The ROI from each employee can be calculated.
You will also be able to identify the amount of money your business is incurring on recruitment, turnover, and employee benefits.
3. Effectiveness of your Workforce
As the owner of your business, your aim is to get the most out of your workforce. Using analytics to track employee performance, and experimenting with several employee incentives, it is possible to track which programs are getting you better results and which ones aren’t. End of the day, workforce analytics helps you quantify the exact value of your workforce.
Trying to quantify every aspect of your business including your workforce brings accountability and responsibility into your business. Whatever system you use, make sure it is suitable and customizable to your business.
We asked some of our readers which tools they use to measure employee performance, and here are their answers.
Q. What’s your favourite tool to manage employees?
A. Irina Weber (What is the future of Google+?)
I am using WorkExaminer that helps me to track employees activities, working hours and estimate the overall efficiency of exmployees. The tool helps me to monitor all activities on the web, provide desktop screenshots in real time, record playback mode, control, block and filter all web actions for your network.
Trello is a pretty awesome tool. The drag and drop interface is fast and intuitive and it’s super easy to set up too. It’s also worth mentioning that it’s free too – so what’s not to like. Asana is also worth a mention and one that we also use from time to time
A. David James (Digital marketing specialist)
Right now, I am enjoying using a combination of ASANA and Everhour. I can delegate tasks to any of my employees and I can monitor the amount of time that they spend on their given task. I can then collect the data, which allows me to make a management decision in regards to productivity, costings and profitability.
The added bonus is that it removes the need to have someone in the office, as you track performance solely on productivity. This removes some of the day-to-day management duties that you would have to do if you had someone in house. I’d recommend those tools for any manager.
Q. How does this tool make your employees more productive?
A. Irina Weber (What is the future of Google+?)
I think that having employee monitoring tool is one of the best ways to monitor how effective they are doing work online, especially if you run a large stuff. It can be considered illegal, but using the tool at working hours can make some sense for many SEO companies and firms.
The great thing about Trello is that it creates a place for everything and ensures everything is in its place. Excel sheets are great but can’t compare in the organisational sense to Trello. It allows workers to see where things are, how they are progressing and makes it easy to comment and let others know what needs to be done
A. David James (Digital marketing specialist)
ASANA has employees only focus on the tasks that they are given. They are delegated with a list of tasks and then they work through their task lists. When combined with Everhour, they are tracked on their timing performance. I’ve been surprised with some of the speed that my employees complete their tasks in. It also helps them eliminate distractions as they know exactly what to do. They don’t have to struggle to find work.
Q. How do you measure employee performance?
A. Irina Weber (What is the future of Google+?)
WorkExaminer shows me all screenshots of their web activities in real time and shows how much working time they spend on each given task. That’s what helps me to estimates how productive and effective they are working on the project. I also love Trello that combines all employees in one board and helps to discuss possible issues and offer great ideas to make good results.
A. David James (Digital marketing specialist)
I measure employee performance by using performance metrics. One is the quantity of completed tasks. The second is their timed performance. The third is results from our strategic objective. This might be audience growth, revenue growth, improved rankings or profit growth, due to their actions. It’s important to share how their actions contribute value.