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What are productivity metrics?
Productivity metrics are a means of tracking and measuring how quickly and efficiently employees are completing assignments.
These metrics are also helpful insights to track, manage, and improve employee performance.
As you would expect, there are various types of employee productivity metrics, including quantitative and qualitative measurements.
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1. 360 Degree Feedback.
- The 360-degree feedback method is a qualitative productivity metric. It uses feedback from colleagues and co-workers to gauge employee performance.
- You can only use this performance metric if people are working closely with one another, as this type of feedback is very straightforward.
- Respondents are asked to give feedback on how an employee has fulfilled their duties. They are also asked how the employee has contributed to achieving company goalscompany goals.
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Management by Objectives.
- Management by objectives is a method of measuring how employee output contributes to the achievement of company goals.
- To apply the management by objectives approach at your organization, you need to have company and departmental SMART goals in place.
- Assuming you have five employees in your sales department, the goal of each employee would be to secure two sales per quarter.
- With those targets in hand, you can check the productivity of each member of your sales team.
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Planned to Done Ratio.
- The planned to done ratio allows you to measure how much work assigned to an individual was completed.
- To get the planned to done ratio, you divide the number of tasks that should have been completed against what was accomplished. You then turn that figure into a percentage.
- you can use this measurement to assess employee performance. If one employee has a 50% planned to done ratio and everyone else in the department has over 90%, you know thereās a problem.
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Time Management Productivity
- Time management productivity is a means of evaluating and assessing what people do with their time.
- In a hybrid, remote, or even in the office, time management productivity is generally assessed using time tracking software.
- The way time management productivity is tracked using these tools usually straightforward.
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Productivity by Profit.
- The final performance productivity metric you might want to use is productivity by profit.
- The productivity by profit metric involves measuring how much money the tasks you do generate for the business.
- Productivity by profit is a useful metric to measure for companies that are looking to grow fast.
- If you know what tasks are making the most money, you can get people to focus more on the tasks that make the most money and less on tasks that have a limited positive impact on finances.
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