Categories
Feedback and Rewards

Raise Employee and Overall Company Performance

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 company’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 employees’ 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 — writing and goal management tools help managers deliver meaningful, accurate reviews so employees understand their performance against goals.

Richer, more meaningful feedback — built-in writing tools ensure consistency between managers, and deliver a deeper level of feedback.

Stronger, more relevant coaching — 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

Save time

Give employees honest, objective, and open feedback

Improve your bottom line

 

 

 

 

Content

Leave a Reply

Your email address will not be published.