South University
file:///C|/Users/CWATKIM/Desktop/Performance%20Management.html[4/12/2020 11:36:26 AM]
Performance Management Performance management and constructive feedback is the basis for employee development. Without honest feedback, the employees will not recognize areas of growth. The managers have to provide the employees with candid coaching if the employees are to improve their overall work performance. In order to offer constructive feedback, the managers must also be comfortable with the performance appraisal process. When employees receive quality coaching on their performance, this will help the employees understand the importance of their jobs, create camaraderie, and encourage a certain type of employee behavior. Performance is also tied to the pay structure, benefits, and the compensation plan. Once the employees receive the performance review, it is time for the manager and employees to develop a strategic plan. The manager and employees should only agree upon three to four areas to improve upon, along with a well-defined plan and timeline to accomplish and achieve the performance goals. The objective is to keep the employees motivated and engaged. When establishing the areas for improvement, this is the time for the manager to gain the employees’ assessment and input for the performance review. The manager could use several open-ended questions to elicit responses and create a nonthreatening environment. For the manager to effectively evaluate the employees, there must be a system in place to measure the core competencies and performance standards. A uniform approach should be established to evaluate and measure the outcome for each employee. All managers must adhere to the same criteria to ensure the performance appraisals are consistent throughout the organization. When the managers are able to encourage employees to work at a peak level, it gives employees self-worth and improves the overall communication process. The HR professional is given the opportunity to monitor performance, track rewards, benefits, pay, and compensation. This also gives the decision makers the opportunity to gauge the value of human capital.
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Human Capital; Metrics; and Value
The leaders of the organization should have the ability to gauge whether a department within the organization is a liability or an asset; however, the leaders may not recognize the most efficient methods of managing human assets and the correlation to the organization’s strategic goals. The leaders will consider the more traditional route when attempting to determine the value of the employees (wages, benefits, turnover, etc.).
Based upon this assessment, the expenditures may outweigh employee worth. When leaders believe the employees are a liability to the organization, layoffs occur and departments are restructured. This will temporarily address the financial issues the organization may be experiencing due to a recession, reduction in revenue, or losing the competitive advantage because of poor strategic planning. In the textbook, there is a general list of metrics that can be used to forecast the expenses linked with each employee; these expenses will definitely have an impact on the organization’s bottom line. Attempting to resolve financial costs of the organization in short term can dramatically affect the long-term goals of the organization.
It is imperative that the organization has the most qualified employees to operate at an exceptional level. What does it take for the HR professional and the leaders to ensure that the employees are strategically aligned with the mission of the organization? How can the leaders and HR devise a plan of accountability to focus on all aspects of the organization? How can the leaders adequately measure the value each employee brings to the organization? How can the leaders of the organization recognize the value of the HR department? How can the HR professional effectively use workforce analytics? These are critical questions to examine in order for the leaders to employ the best business strategies.
South University
file:///C|/Users/CWATKIM/Desktop/Employee%20Value-Investment%20Perspective.html[4/12/2020 11:33:01 AM]
Employee Value-Investment Perspective What are some perceptions that leaders share regarding the value of the employees? How can a negative perception of the employees hinder the growth of the organization? Why should an organization use a system of metrics to determine the value of each employee, and why is this so important? To gain an in- depth understanding of the employee value, leaders must recognize employees as an asset to the organization. A unique synergy is created when the HR professional aligns human capital with the organization’s mission, vision, and strategic goals. There are a few areas to consider when evaluating the value of the employees:
Understanding the necessity of the employee’s technical knowledge to the fundamental aspects of the organization.
Employees willingness to learn new concepts, attend trainings, and grow within the organization.
Use of sound decision-making skills.
Motivating employees to achieve organization goals.
Employees are committed to the organization and portray camaraderie.
When the leaders and the HR professional can develop a system to measure the worth of each employee, only then will the organization recognize the employees as an asset and not a liability. In order for the leaders to gain buy-in from the employees, there must be a shift in the organizational culture as well as the perception of the employees. The goal is to gain the employees’ loyalty. Investing in the employees through training, providing benefits, and offering a competitive salary and rewards will build a basic foundation that lends itself to a win-win situation.
When the leaders recognize the employees as an asset, this will shift the employees’ perception of the organization. Employee recognition will lead to higher performance, reduce employee turnover, gain employee commitment, and change the employees’ workplace values. At this juncture, the organization can then use this internal knowledge to gain a unique competitive advantage.
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