What are the key performance indicators which you all are using in your company with respect to testers? As with any metric it can easily be skewed as testers and developers will often play to the metric, but are you all successfully utilizing any metrics in your projects? How can one best offset people working only towards these metrics? How do you balance these metrics between testers who automate, and those who do exploratory testing?
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There are several things that you need to remember before starting this task:
Keeping the above in mind, I would suggest dividing your task into the following categories:
We have been using this model described briefly above for more than 5 years for now and we have achieved several benefits including achieving relatively low resources turnover and the fact that most of the team members feel that building an increasing on their skills falls in parallel with enriching their resumes.
However, if your question refers more to measuring or grading the outputs of your team members, then consider understanding the quality of the delivery of the team member outputs after ,for example, peer review comments or team lead reviews to get a better understanding on the personal competency of each resource. However, I would remind you again not to get too much indulged in this area as it could lead to negative side effects that -in most cases- ruin the team spirits.
Before you attempt to implement a metrics program, I strongly urge you to read "Measuring and Managing Performance in Organizations" by Robert D. Austin.
You owe it to your team and to yourself to learn about the people-related aspects of measurement systems, and how "measurement dysfunction" occurs. And you may learn about the appropriate level of supervision needed to get your team to succeed the way you want them to (which may or may not involve metrics).
Tester performance isn't something that you can measure easily. There are too many other dependencies.
Possibly the only valid measure is the tester equivalent of WTF per minute - WTF per test case document and WTF per minute when reviewing script code. Anything else is too dependent on factors outside your tester's control.
I have never found a metric that cannot be manipulated. I think it is good to measure things, e.g. statistics from your bug tracking system, but you must keep them in perspective. Although it happens all the time, plugging metrics into a formula is usually not a good way to manage people.
I also think there are mediocre statistics and bad statistics but no great statistics. For example, number of bugs opened/closed/reopened by a tester is mediocre; number of lines of code written by a developer is bad.
You seem to recognize that automation and exploratory testing are quite different. I think you may be able to measure, in a rough way, the relative effectiveness/cost of automation and exploratory testing. Comparing the job performance of individuals in those different roles is difficult.