Understanding employees’ performance is crucial to businesses. There are many tools for assessing the performance of an organization’s workforce. One of the latest techniques is the employee performance dashboard. This is a visual representation of employees’ performance, which covers different aspects of the productivity of the staff members. Here is an employee performance dashboard template:
Main components of employee performance dashboard
Key: The “key” can differ from one organization to the other. It could be the rate charged per hour or costs of operation per hour. It can even be customer satisfaction. It is crucial to take time when deciding on this aspect of employee performance dashboard since it could be the main determinant of success or failure of the company.
Performance: This can be measured and quantified easily. There are various performance metrics based on the tasks carried out by the employees. For instance, for sales representatives, sales performance can be measured against the sales’ targets. For the team leaders, it can be the progress of the teams in varying projects. Other performance metrics for individual employees can include a number of tasks carried out within a set time, a number of units produced by employee and number of hours worked among others.
Indicator: This element is entirely dependent on the future performance of the company. For example, an organization already has vast information on past sales trends. An indicator, therefore, would be used to analyze a variance on future performance. Let’s look at popular KPI’s related to various employee performance dashboards.
Sales/Marketing performance indicators
- Qualified leads per year/month/week- This shows the marketing efforts of the sales team and informs the development of effective marketing strategies.
- Conversion rate- The rate at which qualified leads are converted into new clients.
- Cost per lead- The expense of achieving a single lead.
- of website visitors- This indicates the success and the relevance of the company marketing website to potential customers.
- New vs. Returning visitors-This depicts customer satisfaction as it shows the number of customers who are willing to conduct business with the organization more than one time.
- Time to payback customer acquisition cost- It is the period the company takes to earn back the expenses of attaining a new client.
The executive dashboard metrics aims to show the overall financial health of the organization. They may include:
- Net profit margin- This shows the way the company is generating profit on all gross revenue brought into the company. It informs long term and short term financial decisions.
- Debt to equity ratio- This is a measure of how the company is financing its growth and the manner in which it is utilizing shareholder investments
- Return on equity-It is a measure of the capability of your business to generate revenue from each unit of shareholder equity.
- Gross profit margin- This is the overall profit made by the organization, without subtracting the expenses.