When you want to gauge performance, turning to the right metrics is a must. They will give you insights into productivity, efficiency, and other key factors that often determine a workforce’s level of success, making them worth tracking.
While the exact metrics you need to monitor may vary for each department or position, some are more universally valuable than others. If you aren’t sure which employee metrics matter most, here are five that are worth tracking.
1. Goal Attainment
Usually, in a performance review, managers and employees set goals for the worker together. By monitoring the rate at which those objectives are achieved, you can assess an employee’s drive, accountability, and more.
Just make sure that you review all of the associated goals for reasonableness. Otherwise, an employee may be unfairly penalized simply because what was listed wasn’t realistically possible.
2. Customer Satisfaction
Nearly every employee assists some customer, either external or internal, to the company. For example, sales reps work with what’s traditionally seen as customers – usually consumers or business clients – while your IT help desk may support other employees, giving them their own customer base.
Customer satisfaction metrics help you assess the quality of customer interactions. It lets you know whether those seeking help or support are getting what they need, making them valuable numbers to track.
3. Error Rates
Analyzing the number of missteps an employee, team, or department makes is wise. High error rates could indicate a problem that needs fixing, whether through equipment maintenance, better training, or more oversight from a manager.
It is important to remember that employees may not be responsible for every error. However, if a worker has a notably higher rate than their colleagues, that suggests the issue is at the worker level. If an entire team or department has a high rate, that issue may be systemic.
If your company allows or mandates overtime, looking at overtime metrics is a smart move. It gives you insights into a key part of your operation, including potential issues that may need addressing.
Overtime might indicate a staffing level issue, particularly if entire teams or departments regularly engage in it. If it’s just high for individual employees, it could suggest that they are struggling with their workload.
It’s important to note that large quantities of overtime don’t mean a worker is more productive or dedicated than their counterparts. Long-term, frequent overtime should be avoided, as it can actually result in diminishing work quality, burnout, and more. Efficiency is preferred in nearly all cases, so use overtime metrics to determine if a situation needs a closer look.
Excessive absenteeism can be a troubling sign. While you may be inclined to penalize workers with high absenteeism rates, it’s important to look at the situation carefully first. There may be other issues at work, many of which may be resolvable.
For example, it may indicate that an employee isn’t fully engaged or is burning out, both of which may be fixable if you take the right action. A pattern of absenteeism in a single department that doesn’t exist elsewhere in the company could suggest an issue with a manager or another local factor.
Ultimately, all five of the metrics above are worth tracking. If you’d like to learn more about performance management, the staff at The Advance Group wants to hear from you. Contact us today.