Profit.co News Digest – May 2021

Power Productivity with New Features in Profit.co:

Profit.co Settings:

• Change your application background color. Make the Profit.co platform your own by adjusting the navigation panel and background color to your preferences.

OKRs:

• Edit your check-in history via the Key Result History tab in view. You can now correct previous check-in errors and adjust comments by pressing the pencil icon next to each previous check-in.
• Create key results using the new task tracked key result type. This is a non-measurable key result type that allows you to track the progress of your key result based on your completed associated tasks.
• View OKR progress on a bar chart through your OKR progress dashboard. This gives you a new way to get the pulse on your OKR progress and allows Superusers to select if they would like to see progress represented on a heatmap or bar chart.

Task Management:

• Create sub-tasks to further break down tasks. With sub-tasks, you can keep more details in your tasks module and add additional information, steps, or targets for tasks. Just like tasks, sub-tasks can be assigned to an employee with added target date, priority, and other information.

Performance Management:

• Limit the number of peer reviews each employee can provide. This feature enables you to set the maximum amount of peer reviews an employee can be asked to complete so they never get overwhelmed and can dedicate enough time to providing quality peer feedback.
• Customize 9 Box Matrix box colors and employee icon group colors. You can customize your 9 Box Matrices exactly how you want to and assign a color for the employees that fall into a given category. This enables easier sorting and puts more details in your control.
• Set end dates for each assessment stage on a performance review. You can now designate end dates for assessments when you initiate a new review. This enables HR Administrators to control review timelines and motivate employees to complete their reviews.

User Management:

• Define HR business partners in two ways in performance management: first, you can add HR business partners while creating a new user, or by editing an existing user. Alternatively, you can add HR business partners while creating or editing the department. By doing this, the HR business partner can manage the performance review.
• Profit.co now supports a new user role called “Task User” which provides access to the task module only.
• Now, you can add custom fields to the “Create Department” form. This allows you to dictate what information must be provided when a new department is created, allowing you to set standards in your organization and ensure the necessary information is provided.
• Also, you can add custom fields to the “Create User” form. This allows superusers to ensure that all the necessary information is provided in regard to a user when they are onboarded to Profit.co.

Integrations:

• You can now integrate your Cisco-Duo account with Profit.co! This identity management service eliminates the need for unique username and passwords and instead authenticates users based on their status on-premises and cloud-based directory credentials, prompting for two-factor authentication before permitting access.

Take a look at our most important feature updates with Profit.co’s feature highlight video!

Check out our newest video updates that reveal top notch tips and solutions for all your OKRs, tasks and performance management needs!

What’s new on our YouTube Channel?

Customer Success Stories

• Check out what Rahul Daswani, the head of people & culture at Open Government Products, has to say about using Profit.co’s customizable performance management tools with his team. Listen to his experience on using Profit.co in Part 1 of this video.
• Rahul shares his views on how he picked the best technology partner for his performance management methodology. Listen to the impact that the performance model made with his team in Part 2 of this customer experience interview.
• Also don’t miss how Rahul felt working with the Profit.co team, as well as his guidelines for companies who wish to adopt a new performance model in Part 3 of this inspiring interview.
• Listen to Jason Phillips, the CEO of Phillips Home Improvements in Dallas, Texas, USA share his experience searching for the best OKR software to execute his business strategy in this customer experience interview. He also shares his delightful experience with Profit.co OKRs, the team as a whole, and how the Profit.co software supported the team during the COVID pandemic by helping them accurately track their results.

Check out our latest blog posts:

Take a look at our newest blogs in each category and power your business with fresh ideas!

Employee Engagement

• How to Increase Employee Engagement in the Workplace: Learn how to increase employment engagement with these simple strategies for your workplace.
• How to Measure Employee Engagement with KPIs: Analyze how engaged your employees are by measuring engagement with these Key Performance Indicators (KPIs).
• Performance Incentive Programs that Motivate Employees: Find out how you can keep employees motivated, inspired, and productive with incentive programs.

Supply Chain

• Improving Material Management: Inventory Optimization: Check out what our supply chain section has to say about improving material management through inventory optimization.
• Improving Material Management: Planning & Tackling Discrepancies in Inventory Management: Learn how to optimize your inventory management planning and your entire supply chain with well-written OKRs.

OKR University

• OKRs and EOS: What’s the difference?: OKRs and EOS are both powerful goal management systems; but what is the difference? While OKRs are universal, EOS is tailored for entrepreneurs based on their vision, cohesion, and teamwork.
• OKR vs Balanced Scorecard – What’s the difference: Check out this OKR blog that highlights the difference between the objective and key results (OKR) framework, and the balanced scorecard framework so you can choose what works best for your team.
• OKR vs MBO: Differences and Similarities in Goal-Setting Techniques: Learn the differences and similarities between OKRs and MBOs in this article so that you can choose what will help your team find success.

Behavioral economics

• The Commitment Effect & Its Role in Business: Read this article to learn about the commitment effect and how you can help negate unwillingness to compromise on ideas or thoughts in your organization.
• Halo effect and its role in business: Check out this blog on the halo effect and how it can affect our overall judgment of people in the workplace.