This article is brought to you by AssessTEAM, an employee performance evaluation software program. We deliver seamless, continuous feedback for your organisation with our cloud-based platform that combines employee evaluations and project profitability tracking in a single integrated suite.
In the corporate world, employees play a huge role in the success of a business. They have the power to make or break a business and are considered to be the driving force of a company. But for employees to give 100 per cent of themselves, they need to feel valued and appreciated. That is why it is essential for business owners to ensure that the company culture and the performance system they have built is in line with the core values of their employees.
The Importance of Company Culture
According to the Harvard Business Review, a great corporate culture is composed of vision, values, practices, people, narrative and a workplace. As such, a business's success requires a holistic approach to work as well as a strong corporate culture that can cultivate the sense of purpose and unity to allow real and meaningful results to flourish.
Just like employees, the practices and policies set by an organisation can either improve or destroy a company because they have a direct effect on employee productivity. Whether a company’s goals and targets are fulfilled or not depends on the level of output as well as the procedures and guidelines that underpin it.
It is a never-ending cycle - or better yet, an internal procedure - that if not carefully monitored and regulated can easily get out of control and send out unclear messages to employees about the outcomes that need to be achieved.
Successful business leaders know this, and they choose to invest in their staff as well as in a variety of performance evaluation methods. Introducing an effective employee monitoring system and performance evaluation metrics aren't only beneficial in terms of improving productivity and determining business objectives but also in increasing profitability.
Employee Evaluations: Why Do It?
The secret to business success is getting to know your employees but this means taking some time to get to know what their strengths and weaknesses are, how they are more likely to work and how much you can expect from them. The best way to do this is by carrying out employee evaluations.
Assessing the performance of your employees allows you to collect important information about the people who work for you and what they can do for you. A performance evaluation can also help your employees realise what their role is within an organisation or department.
The creators of AssessTEAM, a cloud-based employee performance evaluation suite, support the idea that 'evaluating your employees on clearly-defined job expectations ensures they receive clear, actionable input that can be easily applied for greater productivity'. This way, you can help your employees achieve more in their given role and at the same time increase your profitability.
More specifically, this can be done through employee evaluations on day-to-day duties or specific projects. AssessTEAM, for example, as employee evaluation software, can provide you with continuous feedback on employee performance on on-going projects and a range of work-related tasks, allowing you to find out how they are progressing. Regarding productivity, this software can help to determine the objectives of a job using result areas and key performance indicators known as KPIs.
KPIs can help businesses measure results more effectively and find out whether and how they are achieving their objectives. These variables can change according to the industry, type of business and department. At this stage, selecting your key business metrics is of utmost importance because the employee evaluation software will use these indicators as the foundation of the desirable results.
AssessTEAM and other KPI-driven software are used to help organisations create, manage and analyse important data related to employee performance metrics and gather it all in one place. This process makes it easier for organisations to monitor the information collected. Apart from that, it’s also a quick and useful tool that can be used with Android or iPhone apps and takes only one minute on average.
In short, this is why you should consider using the software:
- It’s simple, easy and quick to use.
- It projects how much you are going to earn.
- It monitors individual performance.
- It helps employees understand and (improve in) their role.
- It helps to understand strengths and weaknesses of employees.
- It monitors the process of work activities and projects.
How Does It Work?
AssessTEAM is a continuous feedback-based business intelligence system that connects project profitability to employee performance. The system can tell you how much you are investing in your staff and how you can increase your business profits by improving the way you monitor staff performance. It even goes as far as providing an analysis of valuable data that can give you useful insights into how your employees work and behave in their roles.
It can provide individual reports on every employee, looking into various areas like project performance, and provides a detailed description of their evaluation in each. The image below shows how the results are presented and how they can be accessed. The report shows the overall job objective performance and per project performance.
As you can see, the report includes information on graphs as well as average result area scores per month to evaluate the progress and the on-job performance of every employee. It also presents an average score on specific abilities and skills that are considered to be essential for the role they are expected to carry out (eg: the ability to program, documentation abilities, effective unit testing, etc). For these abilities, they also get a review that tells them what they have been good at or need to work more on, depending on the level of their performance (eg: ‘Rockstar’, ‘Average’ or ‘Needs Help’).
The following image shows a more generalised picture of the evaluation of a project which 10 people took part in. It also includes the actual hours invested in the project, the average result areas score and the profit that the specific department or company is expected to see from this project. What’s great about this software is that it presents the individual input of every member and helps to find out who needs more help and in what area(s) so that it can be adjusted and improved accordingly.
It’s the duty of every business owner to take into account the different parameters that can increase productivity and employee performance. This means taking the time to explore the areas that need improvement through employee evaluation to produce more tangible results.
Since the success of a business is determined by its employees, amongst other factors, it’s essential to investigate further into the processes and to the key performance indicators that can help your business develop. Making sure to keep track of the project profitability as a metric of employee evaluation is the key to moving forward.
What’s your preferred method of monitoring employee performance? Let us know in the comments section below!
With AssessTeam, you will be the first to know when employees need help or when projects are at risk. Our employee performance evaluation software helps us deliver job clarity in a simple yet effective process. This leads to happier, more productive employees and greater profits for your business.