Stig Kristoffersen asked:
More and more, small and mid-sized companies have discovered that strategic Human Resource (HR) is the key to ensuring that they reach their full potential in performance, productivity and profits.
There are 4 proven ways you can tap into and manage the full potential of every employee.
Keep employees’ daily efforts focused on key business objectives
Retain top performers and help those in need of a “performance boost”
Provide meaningful motivation and job satisfaction
Simplify your performance management process
Today, the role of HR has been radically redefined and more emphasis has been placed on effectively managing every aspect of the employee lifecycle, from talent acquisition, to performance measurement to employee compensation.
So for each of the above mentioned steps you need to take, there is an action point associated to them;
Match the employee efforts with company objectives
Keep employees energized and engaged
Develop a pay-for-performance culture
Automate your performance management processes
The benefits of the first approach deliver a host of positive results, such as:
Employees and managers achieve more through greater visibility into both individual and company-wide goals.
Employees and managers see the goal plan and understand how their individual goals fit into the companyâ€™s business objectives.
Creating shared employee responsibility by cascading his or her goals with others in the company.
Managers more easily stay in touch with employeesâ€™ progress during every phase of goal completion, and offer immediate reinforcement or coaching to keep performance and deadlines on track.
The benefits of the second approach delivers several desired goals, such as:
More relevant reviews â€” writing and goal management tools help managers deliver meaningful, accurate reviews so employees understand their performance against goals.
Richer, more meaningful feedback â€” built-in writing tools ensure consistency between managers, and deliver a deeper level of feedback.
Stronger, more relevant coaching â€” managers receive specific, actionable suggestions for coaching employees through a range of issues.
The third approach will give you effects, such as;
Track employee progress against performance goals.
Identify who is delivering against expectations, and contributing the most.
Improve ongoing job satisfaction, productivity and retention by recognizing and rewarding exceptional effort.
Avoid overcompensating by seeing where compensation and performance are not aligned.
Finally, the fourth approach will benefit you in several areas, such as:
Easily implement performance management best practices
Increase goal visibility and boost shared accountability
Use data more effectively to gain powerful insights about company performance
Ensure compliance and employee participation
Eliminate paperwork hassles
Improve feedback quality and strengthen management skills
Give employees honest, objective, and open feedback
Improve your bottom line