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Top labour experts reveal the three big benefits of setting KPIs for your employees

by , 03 June 2014
While all business owners know that numbers are critical in managing a business, they often overlook the value of numbers in managing their biggest asset: Employees.

This means, these companies don't have Key Performance Indicators (KPIs) for their employees. As a result, they don't accurately measure or manage their employees' performance.

Don't make the same mistake when it comes to performance management.

Read on to discover the three benefits of setting KPIs for your employees.

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These three benefits will sway you if you haven't set KPIs for your employees
 

Benefit #1: You'll identify strong and weak individual performers

Experts at Dynamic Business.com say, the KPIs you establish will help you identify strong and weak individual performers, highlighting matters such as where there are training needs.


Benefit #2: KPIs will help you monitor all aspects of your business

Contrary to popular belief, KPIs don't only apply to a sales team.

They can help you monitor all aspects of your business including service levels, client complaints, capability measures and work rates.
This, in turn, will help you understand how many staff you need to complete a job and whether your employees are working to capacity.

There's one crucial benefit you must know about. And it'll save you a trip to the CCMA.

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Benefit #3: You'll avoid labour disputes
 

According to the experts at Dynamic Business.com, the data you capture from KPIs will also help you avoid claims for unfair dismissal in the event that you need to dismiss staff.

'Accurate data that reflects poor performance can be relied upon to justify dismissal on the basis of a person's capacity.'

Well there you have it. Never underestimate the value of KPIs when it comes to performance management. We hope these three benefits will convince you to set them right away. After all, your company's bottom line is at stake.

If you need help on how to set KPIs for your employees, check out the Labour Law for Managers Loose Leaf Service.

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