Regularly monitoring employee performance enables employers to reward good work and help workers learn about areas they need to improve. It also allows employers to discover gaps in their employee pool that need to be filled. And for determining bonuses or raises, tracking employee performance can reduce the subjective elements of reviews.
A successful employee-tracking program will allow you to:
- Track performance down to the individual employee and see how it impacts overall company goals.
- Enhance employee development because when clear goals are set, it's easier to meet them.
- Make the review process more accurate and less subjective.
- Place employees in the correct position and determine what you can reasonably expect from them.
Get a software solutionMany companies are using employee performance management (EPM) software to handle evaluations. EPM allows companies to link individual performance to overall company goals.
Keep it simple. And legal.Your business may not be big enough yet nor have enough employees to justify the expense of an investment in technology to track performance. Check out free sample evaluation forms online that you can tailor to fit your firm.
Do a 360Many companies have given up traditional reviews entirely and use 360 reviews, which incorporate not only feedback from the supervisor and the employee, but also subordinates and a small group of peers. Done anonymously, they're designed to provide a more complete picture of the employee's strengths and weaknesses.
Call in the ExpertsInstead of creating your own evaluation forms and processes or using software, you may want to look to a consultant to design an evaluation and retention program specifically for your company.
- You're the boss: When using EPM software, don't let the software dictate what type of data you want to use to measure performance.
- A little patience: EPM systems can take a while to customize, and it may be a while before you see results.
- It's not just about you: Keep in mind performance tracking isn't just about making life easier for you; it's also about helping your team members reach their potential.
- Training is key: Getting your employees on board is critical. The best system in the world won't work unless it's used correctly.