As a leader in a small to medium sized organization, one of your biggest challenges is inspiring and retaining your workforce.
Employees are leaving companies because they do not feel valued or are not aligned with the company’s vision and values. There is no connection between them and the organization.
The average worker stays in each job for 4.4 years. A recent Forbes’ article suggests that the new wave of Generation Y workers entering the workforce will cause this to drop – staying in a job for less than 3 years!
This presents a huge problem for companies who invest heavily in developing their staff to perform only to see them jump ship.
Your performance management system is fundamental to the success of your organization. By revamping your performance management system to focus more on alignment of objectives and career development, you can benefit from:
- Positive employee engagement
- Higher performance from employees
- Clearer communication within the organization regarding company’s core values and vision
Traditionally, annual performance appraisals have been a big factor in the inability of companies to retain their top performers.
Using outdated and inaccurate performance metrics and processes perpetuates the disjoint between the ambitious employee and corporate objectives. Today, companies are looking for social, agile, and collaborative ways to make performance reviews more inclusive and beneficial for all.
Using the right tools, however, can counteract the following contributing factors to losing your employees:
- Weak alignment: As companies grow, it becomes harder to make sure that every employee understands how their jobs are aligned with what the organization wants to achieve.
Low performing employees: Managers are having a hard time identifying who needs support in order to help low performing employees achieve their potential. Low performing employees do not know who to turn to in order to receive feedback on how to improve.
Presenteeism: If the right tools are not in place, employees do not know what they need to focus on. This can create a culture of presenteeism; whereby employees are almost blindly performing duties without proper focus and at much lower than expected levels of productivity.
Contact Sprigg to learn more about better ways to to inspire, retain and engage with your team and help grow your bottom line.