We've all likely been in a situation where we've been involved with or worked for an organisation that has a core value statement posted in a prominent spot, but employees don’t truly understand, care or even feel connected to that statement. Or, perhaps you've been involved with or worked with a company that has no idea where its core values lie, and therefore, things are akin to organised chaos on a daily basis.
It was accurately predicted that by 2015, millennials would bypass their older co-workers and become the majority age demographic of the workforce. They now rank at over 50% of all employees worldwide. That trend, for obvious reasons, will continue to rise. In fact, it's now forecasted that by 2030, millennials will make up somewhere in the ballpark of 75% of the global workforce.
The workforce is changing at a fever pitch these days. In fact, it sometimes seems that borders no longer exist and the globe is shrinking right before our very eyes. A recent study put out by the Harvard Business School found that companies that prioritised a solid diversity and inclusion plan had a more challenged, satisfied and productive workforce. The study showed that if done properly, a strong diversity and inclusion policy would have a positive impact on employee retention. Let's drill down on the definitions of terms:
The ever-changing landscape of today's industry has forced managers to rethink how they handle performance reviews. Even those who had their performance review game mastered now have to learn better, more effective ways to administer 1:1 reviews as well as the feedback loop they foster with their teams. Employees, in fact, crave more feedback, better feedback and deeper engagement in the area of performance feedback.
Employee performance is the secret sauce to business success in any industry. Getting the highest level of productivity, however, can be the most elusive of all your business objectives. One way to ensure employee performance is optimised is to measure it (which makes logical sense), but businesses often get the performance review wrong.
They're commonly referred to as 1:1s, one2ones or face-to-face reviews. Or, likely, a wide variety of slang terms that employees would prefer that the boss not hear about. These one2one performance reviews are also the bane of many a manager's existence and the C-suite might be left wondering why more value, productivity and engagement is not achieved with the team through these performance appraisal opportunities. The truth is one2one reviews can be an excellent tool for both the manager and the employee (if done correctly).
Ah, the dreaded performance appraisal is looming. That uncomfortable hour every month, quarter and year-end when you and your employees sit face-to-face. After the ceremonies culminate, you'll both leave the meeting feeling bewildered, deflated and even worse despondent. The good news: this worst-case scenario is avoidable. And, not only is it avoidable, it's quintessential that performance appraisal best practices are mastered, here's why:
If you were to ask your employees today about the quality of your company’s appraisal process, how many do you think would say they’re satisfied? How many of them will say they don’t even get regular appraisals? The facts will most likely shock you.