Understanding Employee Performance
Accurately tracking and reporting employee performance can
present a huge problem for even the smallest of companies, not
to mention much larger corporations. The value of tracking
employee performance is quite apparent. When all is said and
done your business needs to be profitable. If employee
performance is not closely watched the business will continue to
allow underperforming employees to hurt the bottom line. The
health of the business depends on understanding and making
informed decisions based on employee performance research.
To this end a few business software technology companies have
developed dashboard solutions to ease the burden of tracking and
understanding employee performance data. Fittingly this
dashboard software solution is commonly referred to as a
performance dashboard.
The information displayed by the performance dashboard is based
on the leading indicators of performance that your organization
has identified. These leading indicators are also thought of as
key performance indicators. A key performance indicator serves
as a variable that helps quantify the level of performance any
given employee is realizing. For instance, in a sales
environment one key performance indicator might be the level of
sales dollars a particular representative brings in each month.
Continuing with this example, as management examines the
performance dashboard - which displays the key performance
indicators and their values for each employee - surely they will
want to know which employees are underperforming in terms of the
amount of sales dollars they bring in each month. Management
will probably weight the key performance indicators as they see
fit, then use the information displayed on the performance
dashboard to rank the sales representatives from best to worst.
In this manner they can objectively examine
employee performance across the board and hopefully identify
ways to improve the performance of underperforming employees.
The real value of a performance dashboard really lies in being
able to bring all relevant information together in one spot and
present it in such a way that the information is understandable
and can be interpreted accurately. A performance dashboard
enhances the decision making process as it relates to employee
performance by saving managers valuable time and providing them
with equally valuable information so they can make the right
decision.
Any business that relies heavily on its employee workforce
should seriously consider using a performance dashboard to
analyze employee performance. A performance dashboard has proven
its worth by helping countless managers get the most out of
their employees by identifying the strengths and weaknesses of
their workforce. Weaknesses can be fortified once they are
recognized but if you are lacking the ability to identify the
key performance indicator that weighs in below average across
the board then you will have a hard time righting the ship. A
performance dashboard helps you determine which
key performance indicator is a problem area and will require
additional training to boost employee performance.
Adam Smith is an information author for 10X Marketing. To learn
more about a
business reporting or a
management report please visit Corda.com