Encouraging employees’ professional development should be a top concern for any savvy business builder.
Business success is largely determined by the ability to find, attract, and retain the best and brightest minds in the industry. Yet many businesses continually struggle in this area. The ongoing war for talent, coupled with a high level of employee disengagement, is sufficient grounds for valid concerns to be raised by executives and HR leaders.
Attracting skilled employees is expensive and retaining them is key to efficiency and sustained profitability. Effective performance management plays an unparalleled role in preventing the loss of valuable employees.
Every successful performance management strategy depends on effective communication. It’s important to keep employees in the loop on what needs to be completed, who is responsible, and the final results. During regular meetings, managers should focus on exploring what the employee has learned and contributed to multiple teams, rather than just their individual performance. It’s also essential to provide feedback early and on a regular basis to achieve the best results.
While transformation can occur at a local level, the tone to empower such transformation must be set at the top level. To help employees achieve transformation, both performance management and regular feedback need to be incorporated into your company’s culture. Developing this culture will create room for social feedback, regular check-ins, a clear connection between performance and goals, continuous development opportunities, and peer recognition.
Actively and continuously demonstrating your commitment to your workforce in meaningful ways will improve employee motivation. Surprisingly, money is not a top driver of performance ; rather, employees consider empowerment, development, and self-direction to be more important motivating factors.
We understand the difficulties businesses face when implementing a performance management process. So we’ve designed the world's most innovative and scalable HR and people system to simplify your job. The system uses cloud technology, so you can collaborate with employees regardless of location.
You’ll always be on the same page. Our software gives you instant visibility into your workforce with a single source of truth. Reports and dashboards provide actionable insight, allowing you to make smarter business decisions.
