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Which KPIs Can Help You Analyse The Performance Of Your Employees?

Key performance indicators can help you in many ways. They can help you figure out why your profit and loss statement is not growing steadily, improving upon which area of your business can directly affect your revenue and sales, and which practices are causing a waste of company resources. KPIs can also help you analyse the performance of your employees.

Handling your employees and ensuring that the daily workflow goes smoothly is not easy. Therefore, with the help of your accountant, you can use KPIs to monitor the performance of your employees so that you can determine how well they are contributing towards the goals of your business and if any of those hires are not adding value to the company. Here are three of the most important KPIs to examine how well all your workforce is performing.

360 Degree Feedback

A 360-degree feedback method is very helpful in assessing employees' performance in more aspects than just one. In this method, each employee is given feedback by their managers, colleagues, clients, junior associates, etc. This gives a well-balanced view of how much the individual is bringing to the table.

The 360 degrees feedback method also has a slightly different version where the clients are not involved in the feedback process. This becomes especially useful when the employee or the company itself do not come in direct contact with its customers. It is called 180-degree feedback. This method of KPI assessment can help you have a good idea of how good of an investment the personnel in question are

Work Quantity Employee Metrics

This is a very straightforward metric and is usually helpful in comparing individuals working in the same department or doing the same job. Work Quantity Employee metric involves numbers such as the number of sales made in a quarter or the number of leads generated within a week. While you must consider that not every employee can perform exceptionally well. But poor performance consistently, even after training them and extending your support, can mean it is time to let them go.

Handling Time, First Call Resolution

This is more specific to employees who work with customers directly. The time duration of the customers who are on call, also known as handling time, can be an excellent calculator of how good a salesperson or customer service personnel is. A similar metric is a first-call resolution. As the name suggests, it is when the client's complaint was resolved in the first call itself. There can be other similar ways to estimate performance, such as delivery time, consistent sale generation for consecutive weeks, etc.

An accountant can help you assess your employees using simple Key Performance Indicators and thus improve your workflow in the process.

Consider MAS Partners for your small business accounting needs.

MAS Partners can fulfil your small business accounting requirements such as KPI analysis, cash flow forecasting, bookkeeping, goal setting and strategy implementation to reach those goals. If you want to know more about our services and how we can assist in helping your business grow, contact us here.