Gallup reports the US loses from $450 to $550 billion annually to those employees considered “not engaged.” That means, those poor performing employees might be making a dent in your bottom line, an idea no leader wants to think about. Every manager will meet the challenge of addressing poor performance, and it’s the approach that’s taken that can lead to a reinvigorated worker or a ticking time bomb of an employee. To manage poor performers back to peak productivity, you and your management team should avoid these big mistakes.
Employee feedback is one of the most important (and most under-appreciated) aspects of running a business or managing a team. When overlooked and done improperly, it can result in low employee engagement, which will affect recruitment and retention. So, if it’s so important, how do so many of us let it go to the back burner?
GE, Adobe and Deloitte recently announced they are abandoning their performance reviews for more one-on-one interactions. Though they will continue to do annual or bi-annual compensation and promotion processes, they want to move towards more ongoing discussions and feedback with employees. Following suit are the likes of Microsoft, Dell, Accenture and New York Life.
You’ve heard the news. When it comes to hiring a new employee, you have maybe a month to impress and engage them into your organization. In fact, though nearly a third of new hires are seeking new employment within the first 6 months, up to 20% of turnover happens in the first 45 days.
Some workplaces are full of gabby, fun-loving extroverts. Other offices are quiet as a tomb, inviting visitors to wonder if they walked into a workplace or a library. But most departments are a mixture of both; loud sales teams working alongside their quieter service counterparts. Boisterous marketing departments who avoid the glares of the engineering team that’s just trying to concentrate.
Interviews are not easy. For a candidate, they are stressful and filled with maddeningly pointless questions. For the interviewer, they can be so rote it’s impossible to remember which question goes with which candidate and can be tough to keep everyone’s names straight!
There was a time when work was all about the 9-5, cubicles and working for that corner office (potentially with a window). Moving down the hall was as much about knowing the right people as it was having the right skills, and obtaining those skills was generally something an individual had to seek on their own. The organization may have hoped to have talented employees, but the inspiration to gain and build on that talent wasn’t necessarily something management concerned themselves with.
Even companies that train employees and make training readily available to employees often find that much of the resources allocated to training are wasted. They are finding that there’s no measurable or positive correlation in terms of better employee contributions or productivity. It’s because supporting training isn’t enough. Training must be planned and properly managed if it’s going to be successful.
Do you want to become “the greatest” at performance reviews? Or better yet, do you want to reach the point when you can proclaim, in the words of the late, great, Muhammad Ali, “I’m not the greatest, I’m the double greatest”?
Ah, the employee development program. Many employers seem to have a love-hate relationship with this concept as they want the results but likely don’t have the time to invest in it. In a recent survey, an astounding 75% of Millennials reported they would consider leaving their jobs if they felt there were no real opportunities to grow professionally. So if you haven’t found the time to invest in employee development programs, it may be time to start. Get started with a few tips from the pros: