Key Indicators of Success: Measuring Hybrid Employees Productivity Effectively
Post-pandemic organizations are adapting remote or hybrid modes to offer optimal work efficiency and flexibility for employees. Hence, there is an increasing challenge to measure employee’s productivity and performance in this new work environment. If you are confused by varied productive metrics, don't worry, we’ve got you covered! In this blog, we will navigate you through essential KPI indicators through employee efficiency software .
Organizations need to build clear and successful metrics and evaluate them regularly to determine productivity levels. However, it is vital for managers to not mistake productivity for performance, and make sure the metrics that they include are beneficial for the organization and employee’s growth by using reliable productivity management software.
Before we head on to discuss the impactful productivity KPIs for your organizations, let’s first understand what productivity KPI indicators are. Keep reading…
What are Productivity KPI Indicators?
In simple words, productivity KPI indicators refer to tracking or monitoring how efficiently employees complete a given task. In addition, using employee efficiency software managers can get access to track,evaluate, and improve employees' performance as well. Every organization is different, and a single metric won't be useful for all the departments within a company hence managers must utilize ideal measurements for the same.
The KPI that includes SMART strategy -Specific, Measurable, Achievable, Relevant and Timely is considered to be an ideal solution for organizations. SMART KPI indicators can help managers monitor how effectively determined goals are met, can feasibly evaluate employee productivity via software to manage remote employees , and identify accurate improvement without having to micromanage regularly.
For instance, the KPI for the customer management department could be evaluating employees' average customer calls, whereas the average call time for the sales team or administration department won't be relevant as they may not have to deal with customers directly.
You must be wondering, how can an organization establish a system that simplifies tracking employee productivity. For that, we have listed below a few impactful KPIs that concern hybrid and remote work environments through productivity monitoring tools.
6 effective productivity KPI indicators for your hybrid team
1. Management through Objectives
Management through objectives is a KPI used for measuring how an employee's output contributes to the overall goals of the organization. To ensure utilizing this approach correctly, managers need to keep SMART and the company’s goals aligned.
For instance, let’s imagine your marketing team’s target is to generate 20 leads in 4 months and you have 5 team members, then each employee’s task would be to generate 1 quality lead each month. By accessing the results of this goal you can feasibly monitor the performance of each employee’s task via employee efficiency software.
Monitoring overall results using this method is a hassle-free procedure for managers. While every organization wants their employees to meet the criteria of productivity metric. But when it comes to tracking the results, productivity monitoring tools like Employment Monitoring can offer insights to managers with detailed reports and more. If one of the team members fails to complete the target, you can constantly work with them and find a suitable solution for the same.
2. Employee turnover rate
In a hybrid business, one of the essential KPI indicators is employee turnover rate. It means the percentage of employees that leave an organization at a specific time. A high employee turnover rate signifies a costly approach for a company because the authority would have to invest more in hiring new employees, training them and this will impact negatively on the productivity level of current employees.
Tracking employee turnover rates through employee monitoring app is important as it helps managers to get an insight on potential reasons for employees to leave the company and take suitable actions to increase retention rates. In addition, organizations can minimize turnover rate with a few initiatives like:
- Consistent positive and constructive feedback
- Conducting timely training sessions
- Maintaining effective internal communication
- Encouraging employee development
- Foster employees to maintain work-life balance
Additionally, the employee turnover rate can be measured by how many employees leave the company in a year divided by the total employees of the company. And, to ensure you keep different activities and goals of organizations aligned you can access Employee time management software to monitor productivity targets.
Also, managers can opt for surveying employees about working hours or understanding the gaps to indicate the reason for the employee turnover rate.
3. Employee Adaptability
Every manager or senior executive knows the process of a new hire and his or her progress over time, including their productivity, and achievements in the work space. The next question arises, how can one monitor employee development via productivity management software?
Managers can focus on a few steps to monitor the likelihood of employees' adaptability to organizational growth or culture.
- Monitor overall performance
- Time and stress management
- Employee promotion potential
- Improvement in communication skills
If your employees have ticked all or a few of the factors above then it indicates that they have evolved and grown and can be considered as a good asset for your organization.
4. Time Management
Time management evaluates how employees utilize their working hours to complete tasks. Monitoring employee's time management in remote or hybrid work environments can feel overwhelming but employee time-tracking app can be your big savior. The way managers can access software to manage remote employees like TrackOlap is quite simple.
Here’s a quick and easy method managers can adapt to monitor overall employees' time utilized. For instance, a social media executive would spend his or her working hours with tasks like:
- Creating posts, reels, or stories
- Engaging with the audience
- Maintaining the reports
Social media executives have 3 primary tasks daily, so as a manager your job is to create 3 categories for each employee. Later on, you can track the amount of time spent on each task through the employee time tracking app. This feature allows managers to monitor the employee's activities throughout the day to ensure productivity levels are accomplished.
5. Employee engagement
An engaging work environment is something that attracts more talent as it promises great connections and offers employees the right work environment and tools for easy access to their daily tasks.
Companies that have adopted hybrid business models are constantly working hard to maintain a sustainable environment that offers flexibility, a sense of belonging, and more. Are you perplexed about how you can achieve these goals? Refer to the factors listed below.
- Virtual team building sessions or activities
- One-on-one regular meetings
- Webinar or online course for skill development
- Appreciating employees with the right recognition
- Offering flexible working hours
- Regular detailed feedbacks
- Creating a friendly work environment
To maintain the right employee engagement, managers can take into consideration a few KPI indicators with the help of employee monitoring software.
- Employee performance
- Employee retention rate
- Time over task completion
- Overall employee satisfaction
6. Revenue per employee
The revenue per employee metric evaluates the money each employee makes for the company. An ideal formula to evaluate revenue includes total revenue divided by the number of total employees.
The factor that can affect your company’s revenue is the total employee turnover and that can be carefully looked after through employee monitoring software. Since your existing employees become inactive or less productive in the procedure of hiring new employees, it directly impacts the organization’s potential to make revenue.
While employee monitoring tools simplify evaluating the productivity of employees, tracking each employee's status regularly can be overwhelming for employers. Remember, not all employees are directly responsible for generating a company's revenue. Teams like sales and marketing will have a direct impact on revenue compared to teams like administration, legal, or web development.
Note that, revenue per employee includes a lot of factors hence managers need to evaluate the overall performance of employees, and find the gap between the issues being faced as revenue isn't generated through one department alone.
TrackOlap the right Efficiency to your Business
TrackOlap is a robust business automation platform dedicated to simplifying business operations and promoting growth the right way. Our employee efficiency software aids in managing multiple departments simultaneously and keeps the productivity level intact in your hybrid work environment.
Whether you are looking to improve your integrated data and KPI indicators to enhance productivity levels or need guidance on managing your employee's status and work updates, get in touch with us to know more about productivity monitoring tools or ask us for a demo now !