Hybrid Work Productivity: 4 Key Metrics You Should Track

Hybrid Work Productivity: During the last several years, there has been a dramatic shift in the way we work. The concept of “work from home” is being explored by a growing number of businesses.

Although some businesses are beginning to experiment with remote workers, others are sticking to the tried and true method of requiring employees to physically be in the office.

The hybrid work model provides the optimal mix between working at home and from the office.

It’s also something that many companies want to promote, with studies indicating that 74% of U.S. business owners intend to implement a permanent hybrid work model.

And if you are considering implementing this model, you will need to make sure that your employees are equally productive when working from home as when working in the office.

For that reason, you need to track and measure their productivity.

Monitoring and measuring hybrid productivity can assist you in evaluating employee performance.

The information gathered will help you decide whether or not a flexible work schedule is producing the desired level of productivity.

Read on to learn what metrics you should be tracking to get the most out of your employees.

Time Management Productivity

Time management productivity involves evaluating what individual employees accomplish with their time.

To assess time management productivity, you should consider investing in a remote tracking software solution.

These real-time monitoring tools enable you to track when your employees are clocking in and out, when they take breaks, and how much time they actually spend working.

Additionally, they can provide you with irrefutable proof of work, ensuring your employees are doing the job you hired them to do.

This approach can also help you identify bottlenecks and eliminate them promptly, which will help you manage projects and tasks better.

Objectives-Oriented Management

Objectives-oriented management is a technique for gauging your business’s progress toward its goals and objectives.

To achieve that, you must first set up departmental and organizational SMART goals.

Let’s take your sales team, for instance. A departmental SMART goal would be to make 10 sales every quarter.

If you have five people working in sales, each of them would need to make two sales every quarter.

With these goals in mind, you can evaluate the efficiency of sales reps individually as well as your sales staff as a whole.

This method of keeping score makes perfect sense. After all, you want everyone on your team to meet the bare minimum in production standards.

If someone isn’t succeeding, you can examine why and provide assistance where it’s required.

Productivity by Profit

Measuring the revenue generated by various tasks for the company is known as the productivity by profit measure.

For businesses trying to increase revenue and expand, productivity as a measure of profit is a helpful indicator.

Knowing which activities generate the most revenue will allow you to direct employees’ efforts where they will have the most financial effect.

And that additional profit could be used for expanding your operations.

Let’s say, for the sake of argument, that your marketing department generates little to no leads from blog articles but consistently gets nine leads from Pay Per Click advertising on a daily basis.

In such circumstances, it seems logical to urge your marketing employees to devote more time and resources to monitoring sponsored ads and less time to publishing new blog articles.

While this is a helpful metric, keep in mind that generally it only works for sales or advertising activities.

Planned to Done Ratio

The percentage of planned work that was actually done by a certain employee can be calculated using the “planned-to-done” ratio.

This ratio is calculated by dividing the number of expected tasks by the number of tasks finished. You then convert that number to a percentage.

You could learn two things from this ratio. To begin, this metric can be used to evaluate the performance of employees.

If one individual has a planned-to-done ratio of 50% while the rest of the team has a ratio of over 90%, there is a problem.

It’s also helpful to be able to monitor progress over time. Time-series data reveals who is consistently putting in the most effort and who is falling behind.

And, as a company leader, it is essential to have access to this information.

Final Thoughts

Throughout the last two decades, there has been a rise in the popularity of hybrid and remote work.

With more and more employees opting to work remotely, HR departments must rethink how they keep tabs on employee output.

Each of the aforementioned metrics offers valuable insights regarding worker output. The next step is to choose which of these productivity indicators is the most appropriate for your company.

Related CTN News:

Learning Management Systems (LMS): Features, Benefits, And Choosing The Right One For Your Business

Marketing Plan Examples: Tips and Strategies For Building An Effective Marketing Plan

China Targets A 5% Economic Growth Rate For This Year

PepsiCo Reduces Revenue Projections As North American Snacks And Key International Markets Underperform.

(VOR News) – In the third quarter of this year, Pepsi’s net income was $2.93 billion, which is equivalent to $2.13 per share. This was attributed to the company.

This is in stark contrast to net income of $3.09 billion, which is equivalent to $2.24 per share, during the same period in the previous year. The company’s earnings per share were $2.31 when expenses were excluded.

Net sales decreased by 0.6%, totaling $23.32 billion. Organic sales increased by 1.3% during the quarter when the effects of acquisitions, divestitures, and currency changes are excluded.

Pepsi’s beverage sales fell this quarter.

The most recent report indicates that the beverage and food sectors of the organization experienced a 2% decline in volume. Consumers of all income levels are demonstrating a change in their purchasing habits, as indicated by CEOs’ statements from the previous quarter.

Pepsi’s entire volume was adversely affected by the lackluster demand they encountered in North America. An increasing number of Americans are becoming more frugal, reducing the number of snacks they ingest, and reducing the number of times they purchase at convenience stores.

Furthermore, Laguarta observed that the increase in sales was partially attributed to the election that occurred in Mexico during the month of June.

The most significant decrease in volume was experienced by Quaker Foods North America, which was 13%. In December, the company announced its initial recall in response to a potential salmonella infection.

Due to the probability of an illness, the recall was extended in January. Pepsi officially closed a plant that was implicated in the recalls in June, despite the fact that manufacturing had already been halted.

Jamie Caulfield, the Chief Financial Officer of Pepsi and Laguarta, has indicated that the recalls are beginning to have a lessening effect.

Frito-Lay experienced a 1.5% decline in volume in North America. The company has been striving to improve the value it offers to consumers and the accessibility of its snack line, which includes SunChips, Cheetos, and Stacy’s pita chips, in the retail establishments where it is sold.

Despite the fact that the category as a whole has slowed down in comparison to the results of previous years, the level of activity within the division is progressively increasing.

Pepsi executives issued a statement in which they stated that “Salty and savory snacks have underperformed year-to-date after outperforming packaged food categories in previous years.”

Pepsi will spend more on Doritos and Tostitos in the fall and winter before football season.

The company is currently promoting incentive packets for Tostitos and Ruffles, which contain twenty percent more chips than the standard package.

Pepsi is expanding its product line in order to more effectively target individuals who are health-conscious. The business announced its intention to acquire Siete Foods for a total of $1.2 billion approximately one week ago. The restaurant serves Mexican-American cuisine, which is typically modified to meet the dietary needs of a diverse clientele.

The beverage segment of Pepsi in North America experienced a three percent decrease in volume. Despite the fact that the demand for energy drinks, such as Pepsi’s Rockstar, has decreased as a result of consumers visiting convenience stores, the sales of well-known brands such as Gatorade and Pepsi have seen an increase throughout the quarter.

Laguarta expressed his opinion to the analysts during the company’s conference call, asserting, “I am of the opinion that it is a component of the economic cycle that we are currently experiencing, and that it will reverse itself in the future, once consumers feel better.”

Additionally, it has been noted that the food and beverage markets of South Asia, the Middle East, Latin America, and Africa have experienced a decline in sales volume. The company cut its forecast for organic revenue for the entire year on Tuesday due to the business’s second consecutive quarter of lower-than-anticipated sales.

The company’s performance during the quarter was adversely affected by the Quaker Foods North America recalls, the decrease in demand in the United States, and the interruptions that occurred in specific international markets, as per the statements made by Chief Executive Officer Ramon Laguarta.

Pepsi has revised its forecast for organic sales in 2024, shifting from a 4% growth rate to a low single-digit growth rate. The company reiterated its expectation that the core constant currency profitability per share will increase by a minimum of 8% in comparison to the previous year.

The company’s shares declined by less than one percent during premarket trading. The following discrepancies between the company’s report and the projections of Wall Street were identified by LSEG in a survey of analysts:

SOURCE: CNBC

Business

Old National Bank And Infosys Broaden Their Strategic Partnership.

(VOR News) – Old National Bank, a commercial bank with its headquarters in the Midwest, and Infosys, a firm that specializes in information technology, have recently entered into a strategic expansion of their link, which has been in place for the past four years.

This expansion is more likely to take place sooner rather than later, with the likelihood being higher.

For the purpose of making it possible for Old National Bank to make use of the services, solutions, and platforms that are offered by Infosys, the objective of this expansion is to make it possible for the bank to transform its operations and processes through the application of automation and GenAI, as well as to change significant business areas.

This lets the bank leverage Infosys’ services, solutions, and platforms.

Old National Bank Chairman and CEO Jim Ryan said, “At Old National, we are committed to creating exceptional experiences for both our customers and our fellow employees.”

This statement is applicable to Old National Bank. Infosys is carefully managing the business process innovations that it is putting us through, putting a strong emphasis on efficiency and value growth throughout the process to ensure that it is carried out efficiently.

This is a routine occurrence throughout the entire operation. Because of Infosys’ dedication to our development and success, we are incredibly appreciative of the assistance they have provided.

Old National has been receiving assistance from Infosys in the process of updating its digital environment since the year 2020, according to the aforementioned company.

Ever since that time, the company has been providing assistance. The provision of this assistance has been accomplished through the utilization of a model that is not only powerful but also capable of functioning on its own power.

Infosys currently ranks Old National thirty-first out of the top thirty US banks.

This ranking is based on the fact that Old National is the nation’s largest banking corporation.

It is estimated that the total value of the company’s assets is approximately fifty-three billion dollars, while the assets that are currently being managed by the organization are valued at thirty billion dollars.

Dennis Gada, the Executive Vice President and Global Head of Banking and Financial Services, stated that “Old National Bank and Infosys possess a robust cultural and strategic alignment in the development, management, and enhancement of enterprise-scale solutions to transform the bank’s operations and facilitate growth.”

This remark referenced the exceptional cultural and strategic synergy between the two organizations. Dennis Gada is the one who asserted this claim. This was articulated explicitly concerning the exceptional cultural congruence and strategy alignment of the two organizations.

We are pleased to announce that the implementation of Infosys Topaz will substantially expedite the transformation of Old National Bank’s business processes and customer service protocols. We are exceedingly enthusiastic about this matter. We are quite thrilled about this specific component of the scenario.

Medium-sized banks operating regionally will continue to benefit from our substantial expertise in the sector, technology, and operations. This specific market segment of Infosys will persist in benefiting from our extensive experience. This phenomenon will enable this market sector to sustain substantial growth and efficiency benefits.

SOURCE: THBL

Business

American Water, The Largest Water Utility In US, Is Targeted By A Cyberattack

The largest regulated water and wastewater utility company in the United States stated Monday that it had been the target of a cyberattack, forcing the company to halt invoicing to consumers.

American Water, The Largest Water Utility In US, Is Targeted By A Cyberattack

American Water, based in New Jersey and serving over 14 million people in 14 states and 18 military facilities, said it learned of the unauthorized activity on Thursday and quickly took precautions, including shutting down certain systems. The business does not believe the attack had an impact on its facilities or operations and said employees were working “around the clock” to determine the origin and scale of the attack.

water

The corporation stated that it has alerted legal enforcement and is cooperating with them. It also stated that consumers will not be charged late fees while its systems are unavailable.

According to their website, American Water operates over 500 water and wastewater systems in around 1,700 communities across California, Georgia, Hawaii, Illinois, Indiana, Iowa, Kentucky, Maryland, Missouri, New Jersey, Pennsylvania, Tennessee, Virginia, and West Virginia.

SOURCE | AP