Employee surveys have been conducted year after year throughout all types of professions and the number one desire continues to be feeling appreciated versus the amount of their pay. The truth is that pay falls in about the middle of the list. What we should be learning from these surveys is that we need to be providing our assessment on their performance to them. A well planned employee performance review program is a great way to accomplish this.
A critical part of a well planned performance review program is to discern the most important elements of their position as opposed to those that are not. Those elements that are critical will have an impact on the company's immediate success and must be performed well. Case in point, a store clerk's interaction with your customers is much more crucial than being able compose an email to their supervisor.
Another important element of your performance review program should be the employee performance rating system. An easy but less effective performance rating system would consider an employee either meeting or not meeting the company's standard of performance. Rarely will any employee ever find this type of review program acceptable. Remember, we began this article by stating that employees want to be valued. Simply informing them that their performance is meeting the company's standard will not accomplish that.
One of the most effective employee review rating programs will be very similar to those we had when we were in school. If you remember back that system consisted of several ratings and was designed to go from exceptional to unacceptable. Most systems will consist of five ratings and they could begin with five which represents the best to four, three, two, and one being the worst. Almost every employee will truly appreciate a review rating system like this and it will create a lot of incentive for them to perform better during the year to receive a better rating.
One of your final decisions to make is determining if there will be any increase in pay tied to the rating the employee is awarded by their supervisor on the employee review. Most employees will see this as a great incentive to perform at their best during the entire year. Of course with anything there is risk and the risk here is that any time you determine a pay increase on the rating they receive from their supervisor it better be based on objective and fair. In short the rating a supervisor awards must be attached to performance that can be measured like how an employee handles cash and not merely subjective.
If your company is seriously trying to appreciate the employees it is important that you give a lot of thought about how to implement a well thought out employee performance review program. As we can see above we can accomplish this in a variety of ways so that the employee is appreciated and our company benefits also. A well thought out program can strongly influence productivity and reduce employee turnover in a big way. There is no question that poor employee retention hurts a business. Having said that, this is a victory for all!
A critical part of a well planned performance review program is to discern the most important elements of their position as opposed to those that are not. Those elements that are critical will have an impact on the company's immediate success and must be performed well. Case in point, a store clerk's interaction with your customers is much more crucial than being able compose an email to their supervisor.
Another important element of your performance review program should be the employee performance rating system. An easy but less effective performance rating system would consider an employee either meeting or not meeting the company's standard of performance. Rarely will any employee ever find this type of review program acceptable. Remember, we began this article by stating that employees want to be valued. Simply informing them that their performance is meeting the company's standard will not accomplish that.
One of the most effective employee review rating programs will be very similar to those we had when we were in school. If you remember back that system consisted of several ratings and was designed to go from exceptional to unacceptable. Most systems will consist of five ratings and they could begin with five which represents the best to four, three, two, and one being the worst. Almost every employee will truly appreciate a review rating system like this and it will create a lot of incentive for them to perform better during the year to receive a better rating.
One of your final decisions to make is determining if there will be any increase in pay tied to the rating the employee is awarded by their supervisor on the employee review. Most employees will see this as a great incentive to perform at their best during the entire year. Of course with anything there is risk and the risk here is that any time you determine a pay increase on the rating they receive from their supervisor it better be based on objective and fair. In short the rating a supervisor awards must be attached to performance that can be measured like how an employee handles cash and not merely subjective.
If your company is seriously trying to appreciate the employees it is important that you give a lot of thought about how to implement a well thought out employee performance review program. As we can see above we can accomplish this in a variety of ways so that the employee is appreciated and our company benefits also. A well thought out program can strongly influence productivity and reduce employee turnover in a big way. There is no question that poor employee retention hurts a business. Having said that, this is a victory for all!
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