Employee Time and Performance by the Numbers
Human capital management programs allow companies to recognize their staff as their most important asset. An assets-based approach to workforce management is focused on finding ways to get the most out of that investment, while providing both employees and managers with clear metrics for success. Employee review processes have played a critical role in helping managers assess performance, provide vital coaching, and adjust compensation. But some companies are moving away from traditional annual reviews and embracing innovative trends in employee performance conversations.
The Traditional Approach to Employee Reviews
Most companies continue to use an annual employee performance review process, which is often timed to coincide with annual pay increases (or the lack thereof). In reality, supervisors are often at a loss about how to summarize an employee's work over the course of the past year. 360 reviews, which garner feedback from a wider range of respondents, can help, but as the best reviews are based on concrete examples and incorporate specific detail, many managers feel unequipped to give truly useful feedback. In the end, it's difficult for employees to maximize their productivity and performance when they're only receiving generic praise or criticisms.
Changing Processes and Policies
More than ever, companies are beginning to take a new approach to employee reviews and workforce management. They're moving to more frequent reviews and discovering that both the employee and the supervisor end up being more engaged as a result. Employees get timely feedback on their performance, and are able to integrate suggestions to improve their work. Managers are able to rely on recent projects and interactions to give accurate, detailed feedback. Working with current information keeps teams feeling connected or "engaged." Engagement is the new buzz word for workforce management, and many businesses are using their employee review process as a way to both measure and encourage engagement.
Using Data to Increase Engagement
Thanks to new technologies, supervisors have a number of tools available that help establish these conversations with actual real-time and historical data. Managers can rely on data from systems like time and attendance activity and time-stamped supervisor observation notes. Online performance reviews can have custom "weighted points scoring" for desired behaviors, or can include anonymous peer-to-peer feedback. Some companies have supervisors engaging in employee conversations weekly or even daily. Using "the numbers" can provide a basis for objective conversation, and gives both parties a set of benchmarks to work toward improving.
Improving employee performance is best achieved through regular, data-driven review conversations. By implementing modern workforce management systems, companies are revolutionizing their productivity levels and making the most of their most important assets.