Fortune 500 Style Employee Profitability Analysis for Mom and Pops. Really?

Fortune 500 Style Employee Profitability Analysis for Mom and Pops. Really?
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I love it when the small guy gets to play in the big boys’ sandpit.

And, as a marketer, I’m naturally drawn to anything that allows businesses to accurately measure ROI (Return on Investment). After all, maximizing income for every dollar spent is the name of the game, right?

That’s why a platform called AssessTEAM caught my attention recently.

AssessTEAM claims to offer small to medium businesses a technology that was previously exclusively available to companies with huge staff compliments, and very deep pockets - think Fortune 500.

Now, that’s fine if you’re some kind of HR guru, but being a results-driven marketing guy, I want to know the bottom line - it’s just the way I’m wired.

So, when I read that AssessTEAM provides an effective method of evaluating employees against parameters such as budget, cost, profit and hours worked I was intrigued.

I dug a little deeper.

The argument goes that profitability tracking should form part of continuous employee evaluation. In other words, how useful would it be to accurately know, within seconds, how much each employee costs your business versus how much they bring in?

While that might sound a little mercenary on the face of it, I continued my research into AssessTEAM and some interesting employee benefits also emerged.

Maybe AssessTEAM wasn’t going to be as one-sided as it might appear at first pass.

AssessTEAM - The Bigger Picture

When you log into AssessTEAM to set up your team (step 1), you start to appreciate the wide array of useful metrics displayed graphically right there on your dashboard.

Such metrics as projects above target, projects at risk, results areas gaining and dropping, employees who need help and the rock stars, to name a few.

I found it interesting these tools are intended help the employee just as much as the employer. I was beginning to see a win-win situation developing here, and I’m always in favor of that. Here’s what I discovered:

TRANSPARENCY – the data displayed in AssesTEAM is not just the domain of the employer, it’s available to managers, team leaders and employees alike. The whole basis of the program is to provide an environment that is completely transparent to all stakeholders.

TEAM ENGAGEMENT – it’s argued the fully transparent nature of AssesTEAM makes for increased team engagement, and that makes sense. The whole team owns and has access to project data at the touch of a button.

CONTINUOUS FEEDBACK – is now the norm in the HR realm, and AssessTEAM plays a valuable role in providing up-to-date analysis of how all team members are performing against expectations at any point in time.

MUTUAL SUPPORT – high levels of transparency and team engagement naturally foster a mutual desire in the team to make a project successful. It also opens the door for teammates to help one another to ensure individual objectives are met and the project is more successful as a consequence.

EMPLOYEE ASPIRATIONS – another interesting feature of the AssessTEAM methodology is that employees are empowered with the knowledge of what they need to do to climb the next rung of the promotional ladder. They have a clearly defined path to promotion and understand, based on measurable performance criteria, what they need to achieve to progress in their career.

Summing It All Up

I started this article by questioning whether Fortune 500 style tracking, documenting and measuring of employee performance was genuinely available for Mom and Pops. While profitability tracking by team or individual is common in large enterprises, it’s unheard of in small and medium enterprises (SME’s).

I’d have to conclude that AssessTEAM does indeed extend this kind of functionality to smaller businesses.

That said, such a statement carries with it an implication of reasonable cost, and thankfully that imperative is borne out by AssessTEAM’s pricing structure. With plans starting at just $2 per employee per month (at time of writing), and a 30-day free trial, AssessTEAM certainly falls comfortably within the budget of most SME’s.

You can find out more about the AssessTEAM platform HERE.

About the Author:

Les is a full-time Writer and Author. He can be commissioned at LesWrites.com

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