Are you constantly looking over your shoulder worried that your top performers are not engaged and may leave your organization for a competitor? Do you struggle to get alignment with corporate and/or team objectives?
You are not alone. The average number of years that an employee stays in a job is dropping. This causes a huge challenge for organizations which invest in the development of their employees only to see them leave after a few years in the role.
Traditional performance appraisals focus on past performance. The conversation is centered on how the employee has performed throughout the whole year and a rating or score is then assigned.
So how do you better engage, align and retain your top performers? A fundamental starting point is the use of an effective performance management system.
According to analysis done by Mercer, linking performance to development planning and setting SMART goals (a core constituent of the Sprigg product) are “the 2 skills that matter most in delivering on a company’s desired performance management outcomes”.
According to Mercer, only 56% of companies cascade goals from company to departments/teams, and only 51% cascade goals from business unit to individual employee.
Sprigg is unique because it offers simple and fast ways to set goals as a way to revamp their performance management system. This goal setting technique encourages your employees to cascade your organizational objectives to their own personal objectives.
One survey by SHRM suggests that the highest ranked objectives for performance management systems are as follows:
- Provide information to employees about perceptions of their performance
- Clarify organizational expectations of employees
- Provide information to employees about their development needs
Publicly sharing your objectives helps the managers to be proactive. By tracking each of their direct reports’ progress, they can jump in at any time to provide the necessary support and to provide real-time feedback.
The Sprigg software promotes transparency so that everyone in your company can hold each other accountable. Contact us to learn more about tools that with truly engage and grow employees as well as to develop your company’s competitive edge.