Acronyms are quick and useful abbreviations that allow us to recall lists, speeches, important facts, or procedures through the use of one word or short phrase. Such shortcuts are common in the world of employment, too, and just as useful. TIPS and tricks Acronyms are one of the oldest tricks in the book when it […]
Tag: Performance Management
It’s official. The Marvel Cinematic Universe (MCU) has successfully expanded to television. While Marvel has had previous forays into this medium (including Agents of S.H.I.E.L.D. and various shows on Netflix), WandaVision was Marvel’s first television show explicitly interconnected with the happenings of the MCU, which previously was only portrayed in feature films. And while the […]
The pandemic is causing leaders to navigate a broad range of interconnected issues that span from keeping their employees and customer safe, shoring up cash and liquidity, reorienting operations, and navigating complicated government support programs. Add to this the effects of fluctuating global financial markets, increased competition across multiple sectors, and recent unrest caused by […]
Even the biggest fans of the annual performance review admit it has its flaws—such as assessing work and behavior months later through a rigid format that doesn’t always reflect true accomplishments and has a lack of nuance.
In part 1 of this article, we explored what design thinking is and how it can be valuable. Here, we will explore how to implement design thinking at your workplace.
In an illuminating TED Talk, “The way we think about work is broken,” Barry Schwartz encourages us to think about whether it’s human nature that creates institutions or institutions that shape human nature. In traditional factory lines, work was simply based on the exchange of labor for money. However, money doesn’t have to be the […]
In two previous posts, we’ve been discussing the need for, and the merits of, implementing a hierarchical pay raise structure as opposed to a more or less flat structure whereby all employees generally receive about the same pay increase.
In a previous post, we discussed the precarious situations many employers find themselves in when it comes to employee pay increases. We currently find ourselves in a tight labor market with relatively low unemployment, and employees consistently list financial compensation as one of the primary factors in accepting and staying at a job.
With the unemployment rate hovering at historic lows, companies need to work hard to attract and retain top talent. And while they’ve tried to do this with a number of different incentives—such as greater workplace flexibility, increased healthcare benefits, positive company environments, etc.—salary remains the primary draw for a big chunk of employees.
The best way to demonstrate the value of your performance management system is to link it to business impact. To do so, learn how to calculate the cost of employee turnover, engagement, and productivity, and use these key performance indicators (KPIs) to measure the return on investment (ROI) of your new performance management system.