Ezekiel as an HR Manager
Ezekiel has been working as an HR Manager for over a decade and has seen his fair share of employees who come and go. Some, because of their desire to shift to another career, while others simply because they were not seeing any professional growth with what they do.
One to take his job seriously, (and with heart) Ezekiel cannot help but feel dismayed with management when he receives resignation letters in his email. Surely, he always thinks that management could have done something to prevent the decisions. Surely, the department heads could have exerted extra effort in keeping their members; maybe they could have gone through measures like implementing a better reward system, regular recalibrations, or performance-based salary increases.
The last item is what Ezekiel has been working on for the past months in the BPO firm he is currently employed in. He believes that their agents deserve it—that it was something that should have been done a long time ago.
By The Numbers
The aim of retaining talent through employee evaluations should be a top priority in every institution regardless of size. A study conducted by Clearcompany revealed that 25% of the employees they surveyed resigned due to the absence of acknowledgment. The same study found out that implementation of a recognition or objectives solution influences the performance of 1 out of 4 workers.
Meanwhile, a study conducted by Betterworks found that companies that have adopted persistent performance feedback techniques have exceeded their competition by 24% higher. The study furthered that organizations that implement regular performance processes are more competitive by 39% when it comes to attracting the best of talents and for that matter, 44% better at keeping them.
With these recorded figures, it is already apparent that you must invest in your employees if you are a business owner looking into boosting worker competence and retention.
Methods Your Business Can Implement to Effectively Measure Employee Performance
For you to efficiently ascertain and secure consistent delivery and performance, assessments should be part of your company’s employee roadmap. Here are 5 efficient ways to measure employee performance.
- Behavioural Checklist (Weighted Checklist Method)
A literal checklist, this performance metric looks at an employee’s behaviour at work. To get a desirable review, the employee is encouraged to exude an attitude that would mark him or her as a team member of value. This assessment is made up of several meticulously-worded questions answerable by yes-or-no that the employer needs to accomplish.
Once all answers have been furnished, each of the responses will be given a corresponding numerical value, thus determining the success of the employee in each inquiry. If executed properly, the Behavioral Checklist would be able to make clear comparisons among employees and determine how each can be helped to improve his or her work and dynamics with colleagues.
- Graphic Rating Scales
Among the evaluation methods in our list, the Graphic Rating Scale is one recognized by most organizations. Through this method, a supervisor or department head indicates a rating for an employee working in his or her department. This is based on a numerical scale that lays out a specific set of accomplished tasks and projects, behaviors, competencies, or traits.
Graphic Rating Scales are known for their simplicity and effectiveness. However, these will only prove functional if the supervisors and the employees have a common understanding of the points within the scale.
- The 180-degree Feedback
Stating the obvious, the 180-Degree Feedback is a simpler iteration of the more advanced 360-Degree Feedback. Through the 180-Degree Feedback tool, feedback is taken only from the employee’s immediate co-workers and supervisor. Given its orientation, the tool is used by workers who do not manage employees or do not communicate or interact with the company’s clients.
- The 360-Degree Feedback
The 360-Degree Feedback tool gives a more holistic view of an employee’s performance by getting feedback from sources extrinsic of his or her department. This means that the manager’s assessment may come from friends within the office, other employees he or she may have regular interaction with, reports, and non-direct supervisors. On top of all that, the 360-Degree Feedback scrutinizes the character and the employee’s potential for leadership.
The 360-Degree Feedback method has two types:
The Structured 360-Degree Feedback entails the systematic gathering of data from numerous sources through a survey. If you are interested in employing this method, there are several appraisal software systems out there that effectively integrated survey tools for 360 surveys that are not costly.
A summary of the employee’s performance throughout a cycle, the Unstructured 360-Degree Feedback collects data from appraisals with technological assistance. Here, remarks, journal entries, and feedback are gathered in real-time. This helps largely to establish the accuracy of all information by cross-referencing them with other available written sources within the company about the employee. In turn, this makes for tighter appraisals.
- MBO – Management By Objectives
The most modern among the other methods in this list, the Management By Objectives (MBO) method ties the employee to a goal-centric process. This method works by getting both the manager and the employee evaluated to assent to workable objectives within a specific timeframe. It departs from the other subjective assessment tools as the MBO can demarcate between failure and success.
- Essay Evaluation
The oldest and simplest form of employee evaluation, the Essay method is exactly what it is: an essay written as an evaluation tool. Produced by managers, these short written assessments allow supervisors to delineate an employee’s strengths and weaknesses in detail. However, it must be noted that this type of evaluation technique may be found biased given the manager’s personal view of his or her employees.
Evaluation Is Meant To Improve Performance
As already made clear throughout the discussion, setting an employee evaluation method in place is crucial to business operations. Implementing such allows for the company to determine the competencies and areas of improvement of their employees. In turn, this will help them bolster further growth and create more opportunities for them.