15 Overlooked Workforce Tech Metrics That are Costing You

Businesses often track the performance of every department, including marketing, sales, support, and more. However, they often overlook one crucial element—the technology that powers their departments, including tools, devices, and software. This lack of scrutiny can be a costly blind spot.

?By measuring key workforce technology metrics, you can discover the areas for maximizing your return on investment (ROI) and ensuring that your tech stack drives business success.?

In this post, we highlight the key workforce tech metrics that you should be measuring to map your ROI

Workforce Tech Metrics to Measure With LivLyt

Here are some important workforce tech metrics that you shouldn't miss :?

A. Software Metrics

Important software metrics include:?

1. Total Number of Apps Subscribed To

This metric provides a clear understanding of your company's software usage. It helps identify if you have too many licenses or if there are any gaps in functionality.

2. Percentage of Usage Per App (Identify Top and Least Used Apps)

This metric highlights the utilization of each software. Identifying the apps that are used most often indicates valuable tools, while low usage might suggest unnecessary subscriptions or poorly chosen software.

3. Spend per App (Identify the Top and Least Spent on Apps)

This metric focuses on cost allocation. Analyzing top spending apps helps assess if the investment aligns with the value delivered. Conversely, low-spend apps might be good replacements with free or freemium alternatives.

4. Total Renewal Cost on Apps

Knowing the total cost of app renewals helps with budgeting and future negotiations. LivLyt can help predict renewal periods and automate reminders to ensure timely negotiations for better pricing.

5. Average Use of the Amount Spent on App Subscriptions

A high average use indicates good value for money, while a low average suggests potential cost savings through better app selection or user adoption initiatives.

6. ROI per App and ROI per total amount Spent on Apps

These metrics assess the financial benefit of software investments. A positive ROI indicates the app generates more value than its cost. LivLyt can help track usage data to calculate ROI and identify areas for improvement.

Click here to check out LivLyt can help centralize, manage and track your softwares!

B. Device Metrics

Important device metrics include:?

1. Used or Idle Devices

This metric helps you identify if the devices within your company are fully utilized or not. If a device is frequently idle, it means that the employee doesn't require such a powerful device or isn't utilizing it to its capacity. Thus tracking device usage, can help you optimize deployment, reduce costs, and potentially repurpose them for better use.

2. Number of Assigned and Unassigned Devices

This metric tracks the number of devices currently assigned to employees and the number of idle or unassigned devices. You can use this data to identify potential underutilization of devices and optimize their allocation.

3. Total Amount Spent on Purchasing Devices

This metric reveals the total cost of leasing all your devices over a specific period. Insights into device-related expenses help optimize costs and negotiate better leasing deals.

4. Track of Company Devices

Tracking the physical location of company devices helps ensure optimal utilization, improves data security by tracking lost or stolen devices, and simplifies device maintenance and repairs.

Click here to seamlessly track your inventory, secure devices and streamline IT operations with LivLyt.?

C. Workforce Metrics

Important workforce metrics include:?

1. Total Number of Employees Onboarded

This metric shows the number of active employees in real-time. This information is crucial for efficient device allocation, as it helps identify the number of devices needed based on the current workforce.

2. Total Number of Employees Offboarded

Tracking offboarded employees ensures they lose access to company software and devices, reducing security risks and unnecessary licensing costs. LivLyt can automate this process, making it more efficient.?

3. Software Usage per Employee

This metric provides insights into software usage patterns in your organization. LivLyt can help optimize licensing costs by identifying underutilized software and removing unnecessary subscriptions.

4. Device Allocation per Employee

Understanding how many devices each employee needs helps optimize device allocation. LivLyt can ensure employees have the necessary tools to be productive while avoiding overspending on unused devices.

5. Total Tech Spend per Employee

This metric provides insights into IT expenses associated with each employee. LivLyt can help identify cost-saving opportunities, such as consolidating similar software subscriptions or negotiating better rates with vendors.

Click here to track your employees, their devices and software in one place with LivLyt!

Conclusion

By providing employees with the right tools and software, you can promote productivity and collaboration.However, it is difficult to determine the actual impact of these technologies without proper measurement. This is where workforce tech metrics come into play.?

By tracking metrics like software and device allocation per employee, you can gain valuable insights into resource utilization and potential cost savings. LivLyt takes this a step further by offering a centralized platform to manage your workforce tech, including software, IT, and devices.

With LivLyt, you can measure all the above metrics, ensuring optimal resource allocation, maximized employee productivity, and ultimately, smarter tech spending.?

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