3 Parts of Your Business Environment You Need to Monitor

Monitoring your business is how you make sure everything in your organization is running exactly as it should be. While there are some business leaders who struggle to find the right balance between tracking important data in their company and collecting too much data, it’s safe to say all organizations can benefit from some kind of monitoring. Collecting information on everything from employee productivity and performance, to how well your team is operating in the field, can help you to make better decisions on how to run your business. So, exactly which parts of your business should you be watching?

parts of your business to monitor

Your Fleet

Your fleet is one of the most important parts of your company. It’s critical to delivering on your brand promises and providing your customers with the service they expect. However, a fleet can also be a significant source of expense for businesses who aren’t constantly working on optimizing team efficiency and performance. Fleet management software can help you to keep track of everything from which routes your employees use to reach their destination, to how much fuel each vehicle is using. You can implement additional tools like fleet dash cams to help with tracking certain fleet employee behaviors, and improving the safety of your team. There is a guide online you can check out to find the best dash cams on the market, capable of integrating with your existing software.

Business Profit

Probably the most commonly monitored part of any business operations is profit. The important thing to remember when you start keeping a closer eye on your revenue and earning potential, is that a number of things can influence how profitable your business is. The more you monitor the ups and downs of the earnings in your business, the easier it will be to determine when there’s something wrong with your revenue, and when you’re just dealing with a standard dip in sales based on seasonality. Having the right tools in place to assess not just revenue, but how many recurring customers you have, what kind of customer lifetime value they possess and more will help you to make better decisions about your business in the long-term.

Employee Engagement

Finally, while this is an area frequently overlooked by companies figuring out what they should be monitoring in a digital world, employee engagement is something you can’t afford to overlook. While your customers might be those responsible for building your bottom line, you can’t have happy customers without happy employees. Tracking employee engagement is a great way to determine whether your staff members are still invested in your company, or whether they need help getting back on track. It can also be a great tool for identifying workplace bullying since that can cripple engagement and is often unreported.  It’s becoming particularly important to consider employee engagement now, as companies embrace new work modes, like hybrid and remote work. Track your employee’s engagement with everything from weekly stand-up meetings and surveys, so you can get an instant insight into when engagement levels are growing or falling.


South Florida Caribbean News

The Team provides news and information for the Caribbean-American community in South Florida and beyond.

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