Successfully Managing Your Biggest Asset...your Employees

By Author: Acelero
Total Articles: 15
Comment this article

In order for a business to be successful there are two main aspects that is needed; employees and customers. Effective employee management and well organised HR system will streamline a business and save much time and money which can be put towards business growth.

Employee development is the foundation of a business and can help the business strive, or cause it to fail. It is vital for any organisation to a have regular employee assessment for each employee to assist in identifying high potential talent within the business so these employees can be retained.

An employee performance review can encourage managers and employees to communicate effectively, share ideas and opinions. Employees that are kept engaged and are valued stay motivated and as a result work to a higher standard as they want to fulfil their goals. This process therefore assists in building a talent management pipeline for succession planning.

There ...
... are many approaches to performance management; some companies solely do an annual performance appraisal, either making notes or using performance appraisal software that enables the employer to keep track and monitor appraisals for all employees. Other organisations prefer a more structured system using Performance Management Software that includes monthly or quarterly reviews, Performance feedback and incorporates all aspects of the HR process. There are also many alternative options in between.

It's worth bearing in mind that research has found that companies with high levels of employee engagement improved their operating income by 19.2% while companies with low levels of engagement saw their operating income decline by 32.7% over a 12 month period (Source: Forum). In addition a survey of over 2,000 workers has found that 80% of employees said that praise and recognition motivates them to do a better job.