Performance management has come to mean many things to many people. Some take it to be the day-to-day interactions managers have with their employees, others feel it’s strictly the domain of Human Resources professionals. Whoever is in charge, performance management touches many areas of the world of work.
Compensation is a touchy subject and now more than ever the hot, blinding spotlight is keeping a close watch. The scruples of pay gaps, compensation perception and how compensation is communicated are now the center of an ongoing discussion that’s keeping employers and HR professionals on the edge of their seats.
HR has been expedited by the world of technology. With these tools comes the power to automate, facilitate, and ameliorate many of the processes within the HR domain. But how do you automate something that is primarily human interaction? Something like the performance appraisal? It is the human interaction between a manager and members of their team, but truthfully, the human aspect of performance reviews can damage the integrity of the feedback. I know that’s a bold statement, but let’s look at the evidence.
Forgive us if you’ve heard this before… but in order to actually keep quality employees you have to put forth a strong effort to improve communication, hire strategically and increase company morale.
Take this into consideration: Companies that up their number of talented managers and double the rate of engaged employees achieve, on average, 147% higher earnings per share than their competition. No seriously, it’s true. This survey by Gallup proves it.
The HR industry has been rapidly changing as the trends of the workforce indicate employees and job seekers need to be engaged, desire cultural fit, excel on collaborative teams, demand transparency from employers, and a plethora of other insights. What’s even more shocking is that much of today’s workforce is willing to accept less employee compensation, within reason, in exchange for a fulfilling career.
2016 is almost here and that means it’s time to take a look at the best performance review posts of 2015. From compensation practices to employee performance, 360-reviews to learning systems integration, these are the articles that you clicked, read, and shared this year the most. They’re worth a revisit as you begin planning for 2016.
Deloitte was one of the first major organizations to outwardly recognize the need to restructure performance management as we know it, and more organizations are following suit. What those organizations need to know is that a one-size-fits-all approach won’t remedy a faulty performance management strategy. However, a streamlined process will, which is why we’ve put together steps any business can take to better performance management in 2016.
Managing people isn’t easy and no matter how many degrees you have or how many management training courses you’ve taken, there will always be employees who respond well to your methods and employees who don’t.
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. Start by downloading a performance review template and then follow these steps…