As long as there have been business transactions, there have been dozens, if not hundreds of ways developed to evaluate, manage and make a profit from the process. It can be argued that human capital is as important as the financial capital is to an organization’s livelihood. Thus making an organization’s human capital, its employees and their performance, critical. Regardless of the industry, employee skills and their performance impacts the bottom line of the organization. It is the job of human resources to provide management tools to better manage and understand those factors that contribute to, and affect, employee performance.
Conventional performance reviews are typically paper-laden and one-directional, with little opportunity for an open discussion and reflection on the company, employee, and team goals, or performance, outcomes, and improvements. Technology in recent years has improved this process, but as with any technology, getting a real-time look at what all the data means is key. Assessing individual employee performance can help to determine the top performers, and also identify those employees who need assistance or further training. Holding your organization’s employees to a high-performance standard helps identify skill gaps, retain employees, and create training and employee development opportunities.
Using a business intelligence tool can streamline the performance evaluation process. Improving the process for performance evaluation significantly improves overall employee outcomes, because of tracking and documentation. This makes it easy for human resources, managers, and employees. One tool that can help your HR department with employee performance is analytics.
LightWork® Analytics is the business intelligence tool designed to let you ask questions about your data, and display those answers in formats that make sense, whether that is a bar graph, or a detailed table. Your questions can be saved for later, making it easy to revisit them, or you can group questions into great-looking dashboards. Then, you can easily share questions and dashboards with the rest of the team. LightWork Analytics is not a static display, but rather a dynamic tool designed to display valuable data in a way that can be easily consumed to give strong direction for departments and the organization as a whole.