Posted in:Performance Management
When it comes to measuring performance, there are a variety of ways to measure success. Most companies will find that a combination of measures is best, allowing managers and employees to focus on a variety of areas when determining what success looks like for you. Here are a few quantitative and qualitative measures to consider for your own business.
In some roles, productivity is easily quantifiable. Those on an assembly line, for example, may be expected to produce a certain level of output on an hourly or daily basis. Sales is another area in which productivity is often measured in a quantifiable way, such as leads generated or sales closed. Even doctors may be expected to see a certain number of patients in a given time period. While these numbers are important and provide some input into an employee’s productivity, these numbers should generally be taken in conjunction with other performance measures. Speaking of which, it may be a good idea to revisit one of our previous articles - Establishing Expectations: What Are You Rewarding?.
Ultimately, the purpose of the majority of businesses is to provide a product or a service in exchange for revenue equating to the value delivered. For this reason, financial measures can be used to help illuminate part of the performance picture. When the company is financially successful, in turn its employees are deemed to be performing at a high level. This can take the form of company-wide policies, rather than focusing on one particular role – for example, a company may implement a profit-sharing program for its employees, allowing them to share in the rewards when times are good. Policies like this generally cover a large number of employees In an organization, rather than being specific to one employee or one role.
Another growing area of performance measurement is cultural alignment and the evaluation of soft skills. Employees may be evaluated based on how well they uphold the organization’s key values, and contribute to its overall trajectory. Soft skills like collaboration, initiative, and leadership skills (even for non-managers) can all be evaluated and can play an impactful part in an employee’s overall success.
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