No matter how innovative or in vogue a company is, its longevity is dependent on the talent behind it. Accurately gauging the performance of your individual employees is not only beneficial to their success, but to the growth of your company. So how do you accurately determine individual employee performance?
A lot of businesses choose to evaluate work performance based on a gamut of competencies, qualities, and completed projects. And while this approach gives managers a framework to examine come review time, measuring employee performance metrics is a slightly different animal.
You can think of measuring employee performance metrics as the day-in, day-out performance of your employee. Let’s look at four metrics to monitor in order to gauge how your team’s talent compares to the rest of the business.
1. Quality vs. Quantity
Quality should always come before quantity when it comes to measure employee performance. Ideally, employees should be producing quality work that meets the needs and deadlines of your business. Evaluating quality work is often subjective and heavily dependent on your industry. But a solid strategy is to review the amount of work that is either incorrect, rejected, or has to be redone. With a performance review software, you can track projects and evaluate the quality of work for all employees.
Your employee’s efficiency should be a top performance metric. They hardly make major mistakes, complete projects on time, and their quality of work is never compromised. One of the best ways to monitor efficiency is to talk to members of the employee’s team. Speaking with the people who work with an employee every day is one of the best ways to gain insight into how efficient your employee is.
If you suspect employee efficiency is wavering, chances are they’re either burned out, unhappy, feel disconnected from their work, or a combination of all three. It might be time to encourage them to take more breaks throughout the day or even take a vacation.
3. Individual Goals and Adaptivity
One of the easiest metrics to measure is how well an employee is meeting their weekly or quarterly goals. But be sure you’re setting timely and realistic employee goals. Finally, gauging how enthusiastic an employee is to take on new challenges or their willingness to adapt their skill sets is a great metric to measure to track.
HR teams and C-Suite executives want more data and reportable actions. Dominion can help with a single-source payroll and modern HR solution. Request a demo today to learn how our software can provide actionable insights!