When you hire and pay an employee the hope is that they will produce. While every individual brings important intangibles to their team, on the hard numbers side, for every dollar you pay them there should be a number of dollars in both gross and net revenue that are produced. The Employee Performance screen in BQE’s CORE gives you a really powerful 360-degree view of how that employee is “paying off.” With it, you can get a precise, accurate quantitative understanding of your employees in real-time without doing any calculations. When you take these metrics into consideration alongside your qualitative thoughts about your staff, you can evaluate their performance in a fresh and holistic way.
How to Get to the Performance Screen
To access the employee performance screen you simply need to go to contacts on the side navigation, click employees, and click through to the employee’s profile. Once you are in the employee’s profile, you will either find the performance link at the top right, or you may need to click the drop down menu, which will likely say general. This depends on the size and resolution of your screen.
Across the Top
Here you will find some really valuable at a glance calculations including:
Effective Bill Rate
Effective Cost Rate
Minimum Bill Rate
Ideal Pay Rate
This information is pretty straightforward--I’ll discuss it in the video above. If your effective cost rate is much higher than your ideal pay rate, then you’ll want to look at how you can improve this.
For information on what all of this means and how it is calculated, use the help file. For example, if you are looking for how the ideal pay rate is calculated, search the help area for “employee performance” and scroll down. You will find a good, detailed explanation of this.
High Level Calculations and Overview
Utilization
Margin
Billing
Hours
Normally you would have to run reports and calculate this information yourself, but CORE gives it to you in this sleek dashboard. When looking at an employee's performance, you can see right away what their utilization is. In other words, you can instantly know how productive and profitable they are.
Permissible Hours and Gross Margins
Finally, at the bottom of the screen, we have an overview of the permissible hours and gross margins. This is another example of information that would normally take some time to put together, but here we have it laid out and easy to access in a click.
When you see the example in the video above, you'll understand what all of this looks like. Permissible hours illustrate vacation, holiday, sick, and comp hours at a glance. Gross margins give you a quick look at how profitable that employee is.
With all this information in one screen, you'll get much more valuable insights into how exactly your staff is contributing to your firm.