A lot of employees prefer feedback to real-time performance reviews. Primarily because their organizations don’t have performance reviews often enough to be considered effective. So with real-time feedback employees are able to get the information they need about their work and then fix it as they move forward. However, sometimes this feedback translates into attention for supervisors as the crux of the feedback gets lost in trying to give it. Are you concerned your managers are confusing feedback with attention in your current performance management system? They aren’t the same thing and they produce different results. Let’s get your team on the right track.
Compensation isn’t always easy to talk about. In fact, it’s still one of the most closely guarded topics within even the closest circles of family and friends. While we’re reticent to discuss how much we make or how much we pay in our personal lives, we have to be a bit more open when it comes to managing people. In fact, compensation (due to its social taboos) is likely one of the least understood areas of HR. Here, we explore compensation, the recent trend of pay transparency and whether or not this controversial compensation policy is right for companies of all shapes and sizes.
As the 9-to-5 continues to become a thing of the past, companies are scrambling to figure out new ways of paying their employees. According to the New York Times, wages continue to struggle to keep up with inflation, and employees need to feel valued in order to continue with a company long-term. With new ways of paying employees around every corner, it can be tempting to find alternatives. But for the most part, it’s hard to beat pay when it comes to compensation. With pay-for-performance programs and tempting perks holding the hearts of employees, you need to compare: employee bonuses vs. raise? Let’s take a look.
At most companies, compensation is based on performance. If an employee shows that they’re worth their salary and more, they get a raise (and a bonus, depending on the job and company). Recently, however, there’s been a shift in thinking about the nature of pay-for-performance models, and some companies have tried to veer away from them. But does paying everyone equally really work out? How does compensating people differently benefit your company? The answers aren’t always pretty, but they’re important lessons to learn, as we’ll soon see why compensation needs to be based on performance.
You’ve looked far and wide for a solid reason to keep the performance appraisal aspect of your performance management system around. You know the metrics from the evaluations are key to improving the business, unfortunately your managers and employees aren’t so keen on the lingering practice.
Employees love the one-on-one feedback. They want, and need, to know their problems and successes regularly, but unfortunately real-time feedback doesn’t always fit into everyone’s schedules. On the same note, as great as it might be for some organizational cultures, it might not be ideal for your team. Is real-time feedback too much for your organization? How do you decide what to do when it you can’t integrate it into the feedback strategy? Ultimately, it’s your culture, but it’s only partially your decision, and you need to take into consideration employee needs as well as company requirements.
After all of these professional conversations about developing high-performance teams and HiPo employees – once you’ve hired them – how do you maintain that culture of performance? To put it into concise terms executive leadership needs to ensure their employees, the platforms they’ve purchased and the processes they use sustain a harmonic rhythm. It all starts with constructing a system to enforce a high-performance atmosphere so you can start building your high performance organization.
It’s sometimes difficult for employees to beat their best without goals in place, much less goals that fit their skills and experience. Their purpose is to make your team members better employees and help them along their path of professional development. So how as a manager can you help employees create these appropriate and challenging goals? It’s all about asking the right questions…
Employee recognition is a high ticket item when it comes to retention and employer branding. The reality is no one wants to work in an environment where accomplishments go unnoticed. While it’s true employees won’t turn a blind eye to a bonus or raise, studies show that money is only a temporary motivator and is not the biggest factor weighing into your retention and productivity rates. So what does a leader do when their company needs an updated or entirely new recognition program, but doesn’t have an easy option in which to turn? They actually get to know the people who make up their organization, of course!
Performance reviews are naturally stressful, for both the manager and the employee. In fact, over 40% of employees dislike these reviews and an even higher percentage of HR professionals don’t like their systems. Obviously, something is already broken with the tech and the process itself. While changing technology and frequency can help, decrease the stress of an already stressful event by not saying any of these things.