What about Performance Management?

Performance is the true test of survival in the marketplace. High-performing employees contribute superior performance, giving your organization its main competitive advantage. You may have a world-class system in place to create those superior performers, but it’s only as good as the management and organizational objectives behind it.

Ask yourself: Are you so focused on revenue generation or another particular aspect of the business that you forget to nurture your best ambassadors – your employees?

 A system for sustainable growth

It’s important for any organization to have systems in place to identify, recognize, reward, and retain their top performers in order to achieve sustainable growth. An effective performance management system should encourage collaboration, teamwork and communication to identify:

  • Job performance standards and measures
  • Job behaviors required in accomplishing specific job tasks and meeting job responsibilities
  • Competencies demonstrated by average and superior performers in key jobs

CirclesGraphicResults equal rewards

The results of the performance management data you collect can be used for decisions concerning rewards, bonuses and other employee incentives. For example, competency and job behavior data are typically used for decisions about development. So, if an employee is appraised as lacking group leadership skills, they might be asked to attend a course in order to further develop this skill. And… skill-based compensation systems explicitly tie rewards to skills developed. That spells ‘Motivation’!

Invest in your best

Effective performance appraisals essentially turn on the proper use of each type of data given the system objectives and what degree of control employees have over their performance. Having a solid performance management system in place is truly an investment in the people who help drive revenue for your business – and their extra effort can differentiate good organizations from great ones.

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The Competent New Human Resources Manager

HumanResources_WordCloud_v2 copyYou most likely already know that competencies help define the basic skills employees need to perform their job duties. But did you know that new managers in the human resources function must also exhibit certain competencies in order to exercise proficiency with their own job functions? These include human resource knowledge, understanding of adult learning principals, time management and leadership skills.

If your organization doesn’t have a competency model in place to facilitate the growth and development of new management, here’s how to address the issue.

The competency connection

It’s essential for your new management – especially those who will be heavily involved in training and development – to work closely with your Human Resources staff to implement training at all levels across the organization. Duties can range anywhere from advising on employee development trends to conducting needs assessments to address employee strengths.

The point here is that not only will your new managers be required to use competency-based approaches in their role, but those same competency initiatives must be in place to decide if the new manager is even the right fit for handling these important, previously noted tasks.

Beyond human resource knowledge…

The benefits of a well-trained new manager can extend well beyond basic human resource knowledge or understanding best practices for encouraging employee participation during the development process.

Consider what the following more advanced skill sets competencies can bring about with new management training:

  • Polished verbal communication skills when it involves facilitating focus groups, seminars or workshops
  • Empowerment of management, where company goals are actively supported
  • A catalyst for driving corporate change – management who can draw more willing participation from employees at all levels
  • A motivator – leading to increased productivity and cost reductions. Management committed to corporate effectiveness as a means of self-improvement

Wish to learn more? Click here to discover how a competency approach can successfully facilitate the development of new management within your organization.

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The Analytics of Managing Performance

PerformanceWorth4:cThe demand for performance-driven analytics has never been greater. By understanding the power of analytics within the human resource function, you can become predictive, and thus provide the answers to key questions, such as:

  • Who will be the most successful employee in the organization?
  • Which HR initiatives will most impact the bottom line?
  • Which top performers are at possible risk of leaving the company within the next year?

Yet, the journey to establishing HR analytics has proven long, with most organizations only just beginning to scratch the surface. You have metrics, analytics and big data phases to consider – each playing a significant role within the daily HR function of decision-making. The issue facing human resource professionals today is what do they all mean, and how exactly can you make sense of it all? How can you measure your success in managing performance?

Metrics, analytics, big data… Oh my!

Metrics are simple measurements that track activity, but do not show a causal relationship. You cannot anticipate understanding what affects engagement or what drives performance based on metrics alone.

Analytics examine the effect of HR metrics on organizational performance – essentially, this type of measurement seeks to identify patterns of similarity between metrics.

Big data refers to a collection of data “sets”, which are larger and more complex, requiring on-hand database management tools vs. time-consuming traditional methods.

Predicting top performance to manage your bottom line

By implementing the right set of metrics, analytics and big data, you can gain a competitive advantage and prevent turnover from hurting your bottom line. If you wish to begin to raise the bar on employee performance, you can start by browsing the advice we publish on our website or contact us for a brief consultation.

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