How do you measure the performance of your team?

In business, it is always important to evaluate and analyze not only the effectiveness of your team, but also the overall client flow and financial instruments that you use. Personally, for my projects, the right choice of the payment system from https://humoney.com/en played a significant role, which has all the functions I need to analyze my income and analyze the solvency of clients, which is very important and allows me to make decisions faster for scaling and easy implementation new technologies.

By tracking the output they are generating

The approach we take is we set our high level business goals for say the next six months. From there, each department will formalise its roadmap to help achieve those business goals (both individually and cross-department). From these roadmaps, the team members will propose the OKRs they wish to set themselves, which ladder up to the roadmap, and ultimately the business goals. These OKRs are reviewed and agreed on by all stakeholders and then the team members are evaluated based upon their performance against them. Naturally it's not quite that black and white, as there is also the need to take into account things like employee's behaviour, what they may have contribute outside of the OKRs which positively impacted the business, what they did to support other team members achieve their OKRs, etc, but it helps set a good baseline.

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