Research shows that HR professionals who practice data-driven decision-making are 4 times more likely to be respected by their colleagues. AssessTEAM is the next generation, data-driven employee evaluation tool that can support the modern HR professional looking to bring a data-based and commercial approach to employee performance management.
Unlike most employee performance management tools, AssessTEAM includes a project performance evaluation and client satisfaction evaluations element in addition to 360-degree feedback. You can do this by ‘adding projects’ into the system and specifying ‘budgeted costs’ and ‘projected hours’ per project, along with a desired profit margin. You can also quickly assign employees to these projects and have clients evaluate them in addition to supervisors.
By synchronizing and mapping your timesheets to the AssessTeam system, the system will automatically calculate hours invested in each project vs. budgets, allowing the system to calculate profit margins. This enables AssessTeam to provide a data-driven and profit-related analysis of employee and team performance that will carry much more weight in the boardroom, and which should allow for more financial decision-making.
One of the system’s headline reports is the project performance report that gives you an instant appraisal of the profitability status of every one of your projects, giving you great commercial and strategic oversight of staff performance.
If you need to do some further investigation, click on the ‘Result Area Performance’ report that shows the average performance score for each result area. This report highlights shortcomings in specific competency areas based on aggregated, individual employee performance scores. It is a data-driven way to identify areas in need of competency development.
Building a healthy sense of competition between teams by publishing and comparing profitability statistics, (in a process known as gamification), is a great way to drive performance. AssessTeam supports this process by allowing you to produce team performance comparison reports on criteria such as project cost, project revenue generated, the total cost per team, average result area scores per team, and projected profit per person.
The system also enables you to do company-level performance reporting which you can use to help benchmark performance against the external competition.