EMPLOYEES’ PERFORMANCE AND WHY YOU SHOULD MONITOR THEM

Employees are one of the most important aspects in deciding whether a company will thrive or fail. Every firm sets out to reach a business objective, and as an organization, your business must work together to attain that goal(s). Therefore, as a business owner or significant shareholder, it is important to study, understand and analyze how well staffs are performing. In many organizations around the world, Performance Appraisal is monthly, quarterly (which is more common), and in some cases annually. It is important to conduct this exercise regularly, there are although arguments that conducting this exercise connotes monitoring your staff and indicates a lack of employer’s trust. But then, “monitoring your employees” performance has a lot of advantages, and here's business owners should take it seriously.

Improves Employee-Employer Relationship

Monitoring an employee's performance over time might assist you as a business owner in identifying bad patterns in your staff. Some of these habits are useful to the firm while others are not; keep in mind that you may not always be on-site, so having Employee Performance Monitoring Tools or a process to monitor staff performance can help you uncover grey areas that need to be worked on. If it is useful, you may congratulate and thank an employee; alternatively, you can revisit them at the ideal moment and point it out to the employee in such a manner that they are on their toes and challenged to improve in the discharge of their duties.

Increased Efficiency

According to research conducted by the Massachusetts Institute of Technology, when employees realized they were being weighted by their output or productivity, earnings climbed by 7%. Employees were more efficient and aware of their activities and job.

As an employer, you would want your employees to be aware that they are being observed so that they are reminded every time they represent your company, making them even more careful and on-task to avoid being questioned by their bosses. The way an employee spends her time at work may have a big influence on your company's productivity. Monitoring employees allows you to observe what they are doing with their time, which helps you figure out how to make your employees and the firm as a whole more productive.

You Get to Make the Most of Your Employees

Sometimes, you get to correct your employees time and time again. In most cases they aren't just interested in knowing what they're doing poorly; it is also common that employees are eager to improve on what they do best so they can serve your company well. Knowing how well a person performs using an agreed KPI may help you identify the departments or teams best fit them, bringing out the best in your staff and consequently enhancing the success of your organization.

Creating and Evaluating the Right Training and Development Needs

As an employer, you'd like people that are skilled in a variety of professional or technical areas, such as innovation, marketing, leadership, teamwork, and so on. Tracking your employees' performance allows you to not only detect these gaps but also choose the best program to fill them. It is not enough to provide opportunities for your staff to grow; monitoring them allows you to determine whether certain training would be beneficial to them, and whether or not it can be used in the future. Continuous performance evaluation is useful for evaluating the success of various programs, such as training and development modules or coaching sessions, and determining whether performance has improved as a result of their implementation.

Recruitment, Retention, and Promotion

Your company operates in a collaborative environment, thus there is no room for redundancy. As an employer, you want to guarantee that only competent and productive people work for your company. Businesses are never reluctant to let go of their effective employees and will even pay them more to keep them, but if employees are not up to the task, they may be promptly cut off and replaced with superior talent. So, whether an employee is a good match is determined by several elements, the most important of which is performance.

In a nutshell, failing to monitor staff performance may cause stagnation for an organization, and the business might even lose direction. Employee performance should be monitored regularly, the practice should be ethical and confidential, and stay within the bounds of national legislation. The entire purpose of you monitoring your staff in the first place is to move the firm toward its objectives and ambitions.

Do reach out to us at #knightandbishopconsultancy for more advisory services to support your organization in its employee performance management.