Tackling Performance Management for Small to Medium Sized Businesses with Betterworks’ New Product “Team Edition”

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Betterworks

Betterworks, a Continuous Performance Management® solution, has established itself as an industry leader. By focusing on continuous performance and objectives and key results (OKRs) Betterworks seeks to improve efficiency, provide transparent communication among team members, and retain top talent, among other goals and objectives.

Betterworks was designed to improve team cohesion in the corporate environment. That focus has changed, however, with the release of Team Edition. This new product is optimized for small- to medium-sized businesses and individual enterprise teams.

Betterworks’ Team Edition is a self-service Continuous Performance Management® solution that focuses on OKRs to improve employee motivation and engagement for small and midsize businesses.

One of Team Edition’s most notable strengths is its affordable price point, sitting at $8 per user per month (billed annually), or $10 per user per month (billed quarterly). Up to 100 people can join a team at a time, allowing employees and managers to communicate regularly to keep projects on task.

Features and Solutions

One major problem that businesses face today is waning employee motivation. Unmotivated employees often don’t see a correlation between their tasks and the goals of the company as a whole. As a result, they underperform, costing businesses time and money.

A motivated workforce, however, focuses on what matters most to the organization and feels a sense of accomplishment from their work. With continuous feedback and regular communication, projects can move forward without delay, allowing organizations to remain agile and tackle problems as they arise.

Betterworks’ Team Edition seeks to unify your workforce by improving productivity, efficiency, and profitability. By unifying teams through transparent communication and cross-functional programs, team members can motivate one another, ensuring improvement in performance and skill development.   

The ultimate goal of Team Edition is to make small to midsize businesses more productive and profitable through its suite of organizational tools. Let’s take a more in-depth look at what Betterworks’ Team Edition has to offer:

Basic Goal Setting and Alignment

Aligning the entirety of your workforce with the priorities that matter most to your organization is crucial to your success. With Team Edition, you can transparently track and communicate progress in real time.  

This will allow you to easily align the goals of every member of your team (regardless of size), and ensure that everyone is on the same page. Team Edition allows you to set milestones to track the progress of both teams and individuals, allowing you to provide guidance where needed and making it easier than ever to enforce deadlines.

You can also use this Continuous Performance Management® solution for unprecedented communication between employees and managers, both scheduled or ad hoc. With Team Edition, managers can provide constant guidance to their team members as they work to meet goals and objectives.

Remaining agile is crucial to any organization, and delays cost time and money. With Team Edition, managers of smaller teams can instantly see where their attention is needed. By providing an in-depth look at department, team, and individual adoption, managers can swiftly handle any problems that may arise before delays occur.

As an added convenience, the Betterworks Continuous Performance Management® platform is compatible with many common industry tools that your team is likely already using, such as Jira, Salesforce, Gmail, and Outlook.

Conversions, Feedback, and Recognition

The success or failure of a project is often contingent on a team’s ability to provide constant feedback with one another. Betterworks Team Edition makes it possible to have regular, lightweight conversations.

Feedback is often placed on the back burner for many projects as team members and managers focus with laser precision on completing their assigned tasks. Lack of communication can be detrimental, however, as it can affect the alignment of the team.

With Betterworks’ latest Continuous Performance Management® solution, team members can provide transparent feedback to one another to prompt improvement. Peer review can be powerful when utilized constructively as team members encourage each other and management provides guidance.

On top of feedback, team members and managers can give transparent recognition to individuals who go above and beyond in their assigned tasks. Public recognition can be a powerful tool to keep employees motivated and focused.

Automated reminders are another major benefit of using Betterworks’ latest Continuous Performance Management® solution. By sending reminders of deadlines and requests for project updates, you’ll keep your team members accountable and performance focused.

Managers, in particular, will benefit from the conversation templates that they can find in the system. These templates help managers guide conversations in the right direction as they manage their teams.

Additionally, you can customize your interface to adapt to the needs of each department in your organization. For example, the finance department would likely customize their interface differently than the marketing department. With Betterworks’ Team Edition, each team can have its own customized template to approach its unique needs and challenges.

Insights and Analytics

Team Edition gives you a bird’s-eye view of your organization. With a few quick swipes, you can view your entire program and get a general idea of what your team is actively working on and the assigned tasks of each individual.

Team Edition provides an interface where you can view visualized data, giving managers the ability to quickly and easily determine where they should be concentrating their attention. With precise insights at your fingertips, you’ll know what’s going on at every level of your organization. This includes insights and analytics for teams, managers, and executives.

Additional Funding Shows Signs of Bright Future for Betterworks

For two years straight, Betterworks has seen double the growth in terms of platform use, which is likely a result of its position as the market leader for Continuous Performance Management® solutions.

In March 2019, Betterworks announced that it had secured $27 million in Series B financing, which boosts its overall “war chest” to more than $65 million in total. With eager investors lining up to provide seed capital, Betterworks is better able to take advantage of accelerated sales momentum and continue with product innovation.

Betterworks continues to have strong sales as more corporation’s transition to its Continuous Performance Management® system. With Team Edition now part of its product line, sales figures are expected to increase further as small- to mid-sized businesses begin to adopt the system.

 With the rollout of Betterworks’ Team Edition, smaller operations can now enjoy the benefits of a continuous performance management system that was previously the exclusive domain of corporate-level organizations.

With proper implementation, Team Edition will help smaller teams realign and revalue their goals and objectives as they make an effort to communicate transparently and make continuous improvements within their organizations.

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