What is employee productivity?
Employee productivity is a metric that is calculated based on the amount of output on a project versus the amount of time it takes. It can also be measured against a standard or “base” of productivity for a group of workers doing similar work.
Measure employee productivity will show how efficient the employees are for a task or project. This metric itself can be used to determine if a project needs more or less workers. So if the quality of work outputted is justified by the amount of hours being put in and, as a numeric measurement. There is an optimal level of productivity for each task or project where productivity is the main driver of progress.
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How to measure employee productivity and help your business?
Productivity of employees is not only a way to measure efficiency in a company. This is only its most obvious use.
A lagging productivity number can also be a symptom in a diagnostic test for the business. If productivity is low, overall, this could spell worker disengagement, problems in collaboration, “cyberslacking” (i.e. online time-wasting), or even inefficient email communications.
Sometimes, it simply takes too long to process one’s inbox before even getting a chance to begin the workday. And this can seriously cut in to employees’ most productive and valuable working hours.
Oftentimes, employees are caught in the “administrative” or “small-ball” details of the job. Measuring workforce productivity can also be a significant portion of understanding ROI.
For example, the company has noticed diminishing efficiency gains. It invests in technology to help optimize efficiency – like new billing software for project managers or training on a new email management app for workers. Measuring productivity is integral to understanding if this investment was smart for the business for future growth.
Smart and intuitive employee productivity tracking using MoneyPenny
Tracking employee productivity is very important to a business. And tracking it in theory can be very different to measuring it in practice. There can be some confusion. How to account for the qualitative aspects of productivity? Things like collaboration, telecommuting and role-based allocation, just to name a few.
In order to address these issues and be able to gather the data they need to make smart businesses decisions going forward, companies will utilize powerful software like MoneyPenny for employee productivity tracking.MoneyPenny performs team productivity tracking right within the day-to-day functions. Click To Tweet
Smart software like MoneyPenny measure employee productivity right within the day-to-day functions. You can keep an eye on what employee is working on. Features like live time tracking, time logs and project allocation allow you and your employees to log in and out. You can run tracking in the background as the employees work on projects from their own locations, collaborating with co-workers.
Role-based productivity can also be tracked and then assigned to specific projects so businesses know where there is drop-off, room for improvement or what types of projects their team excels at. At the end of a project or while it’s ongoing, productivity can be measured to give clients updates and go the extra mile as well as tighten efficiency where needed.