No. You can’t effectively measure people who know they’re being measured, and you can’t measure them secretly because they weren’t born yesterday. You know what works, though? Managers who get to know their reports and can make decisions based on the deep, subjective insights they have into their teams.
Software engineering is a creative, not a manufacturing discipline. Every one of these attempts to measure or gauge developer productivity seems to miss that point.
The metrics established in Nicole Forsgren’s Accelerate are probably the closest, but even then, everything has to be measured in context, which is decidedly qualitative when trying to match against a “business value.”