Management and Human Resources Services
PERFORMANCE MANAGEMENT PROGRAMS
he best leaders are those who are committed to the success of their people as both employees and individulas. As a manager or supervisor, you are responsible for performance management. In another sense, performance management may be a system of evaluating employees to help them reach reasonable goals and thus ensure that the company performs optimally to link with the business goals and objectives
- Performance management of individual employees includes planning work, setting goals, offering feedback and reviews, offering opportunities to learn more in one’s field, and rewarding employees who perform well.
- Employee performance management works best when work is planned and goals are consistent. This may mean having a clear way to communicate regarding work expected at the moment and upcoming work. Planning also includes defining expectations of the employees so that he/she is not broadsided by evaluation criteria not included in the planning stages. There should be no surprises for either the manager or the employee.
- Performance management also involves giving feedback to employees on a more consistant basis than the average annual review. Ongoing communication should occur so that corrections can be made or compliments received.
- Employee development and rewards are a huge part of performance management, either in bonuses or raises, when employees perform well. Employees who are performing at a high level in their field should be placed in positions of greater responsibility over time and receive a greater share of pay. Reward for positive performance must be real and tangible, or else companies run the risk of becoming a “negative action” company only.
Qxplore Inc. can assist employers with establishing a solid Performance Management Program or to evaluate your current system.
n effective overall compensation structure is one of the most sensitive and unique challenges for any organization. It ultimately reflects how you value your employee. It plays a key role in your organization’s ability to attract and retain a productive and reliable workforce. Forward thinking organizations recognize the importance of pay structures and quality of work life as important rewards to its employees.
Having a structured and documented compensation process can be the most major positive contributing factor to the success of your overall human resource strategic plan. In doing so, you ensure that employees receive a fair and equitable wage and benefits package (in their perspective) for the work that they perform.
- Skill-based pay
- Competency-based pay
- Variable-pay systems
- Wage, Salary and Benefits surveys
n defining benefits, they can be any form of compensation that is not part of an employee’s basic pay and is not tied directly to either the requirements of an employee’s job or their performance in those jobs. When estimating the actual cost of an employee you must take their annual salary and multiply it by 1.3 to reflect the true overall cost of that employee for a year. Hence the importance of designing both a competitive and affordable benefits package to complement the compensation package.
- Insured employee benefits: Group Life Insurance Plans
- Benefits related to productivity and profits (Bonuses and Profit-sharing)
- Social benefits: Employee Assistance Programs, Wellness Programs
- Flexible schedules
- Pay for time not worked: Sick days, paid vacation time
- Other variable benefits: Training and continued education, Payroll deduction plans
We at Qxplore are able to assist you in designing Compensation and Benefits packages that best suit your organizational needs