Busy managers seem to fail to make time to assess the work of their employees. They give an assignment, and if it gets done roughly in time and with good enough work, it is good enough for them. Big companies have analysts that keep track of everything. They might take notes on your attitude, how many seconds late you were, and god knows what else. They understand that the little signs can be indications of how well someone will do in the long run. If you can determine the value of your workers, you can optimize them to have an ideal labor force.
So, if you run a smaller company, how do you determine the value of your various employees? You need to keep track of everything they do. You need to assess their abilities at various skills, the ups and downs of their attitude, how well they get along and communicate with others, how on time (or not) they are, etc. You need to integrate multiple factors in a single algorithm to create the ultimate valumometer. The fun part is that your employee’s value will go up and down like the stock market. The point of this exercise is that with a good system in place, you will know exactly when to fire someone. You’ll also know when to hire someone new who you are testing out. Remember, the value of the valumometer is even more when testing out new people rather than just blindly hiring them.