The process of managers and employees working together for the latter’s work- objectives and overall contribution to the organization is termed as ‘Performance Management’. It is a much broader and a complicated function, as it encompasses activities such as joint goal setting, continuous progress review, and frequent communication. To summarize, employees’ performance management involves everything in between an incumbent (employee) joining an organization until he/she quits it.
Comprehensive employee’s performance management results in increased profits, better employee relationship, and optimum customer matrices, thus providing better productivity to the organization.
Who are Venture Capital Investors?
Venture capital investors are those investors who invest in small businesses and startups after a detailed study of their potential prospects in order to reap maximum future returns on their investment.
Here are some simple yet effective ways to enhance your teams/individual’s performance.
Organizational proceedings:
- Goals and expectations to be communicated clearly to employees.
- Taking their views in defining company strategies, vision, and organizational values.
- Employees should be encouraged for innovative thinking. Moreover, schedule an innovative thinking contest between the employees.
- Direct discussions about employee’s likings and disliking about the job should be done.
Company’s responsibility:
- Supporting them in their work and maintaining trust within employees and leaders.
- Strong team working environment to be created by coordinating team building events
- A daily stand-up briefing at the beginning of each shift about a recap of things going on in the department.
Meeting proceeding:
- Boosting employees in meetings and appreciating their recent achievements.
- Providing different departments, the opportunity, to lead company staff meetings, each time, so as to enhance their planning and execution.
Programs to be conducted:
- Volunteering at a local charity or non-profit organization.
- Wellness Committee should be created to implement programs like a new-hire mentor or buddy program. Cross-training programs, safety programs, etc.
- No email day, to promote in-person interaction with employees.
- Company history month to be incorporated with the view of making employees aware of company history and past achievements.
Things to maintain:
- Cafeteria-for enhancing employees to communicate while eating, so as to discuss their questions and concerns
- Newsletter or blog, of the company, for and by the employees, having writings from CEO or top executives and to highlight different employees each month with their achievements.
- Spaces, open and comfortable, to be provided, to help employees gather together.
- Whiteboard and KPI (Key Performance indicator) board to be maintained, for employees to write suggestions or any other thing and for their self-judgment on a daily basis.
- Bulletin board, with photos of employees and events, to be changed every month. Ongoing scrapbook of photos of last month can also be maintained.
- Book club, comprising of books on management, industry, leadership and other related topics.
- Bulletin board, with photos of employees and events, to be changed every month. Ongoing scrapbook of photos of last month can also be maintained.
- Internal job board, to be created, for vacant positions to be posted internally, before looking outside for candidates.
For top performers:
- An employee of the month award to be created. Therefore in order to analyze accurately how they are going about their work, organizations must use performance management software for authentic reviews and data analysis of the employee.
- They should be given opportunities to attend special events with their seniors.
- Career development discussions, at least once a year.
- The leadership of special assignments should be provided by sending them to trainer classes to train other associate employees.
Recreational activities:
- Breakfast/lunch of all staff or team to be hosted.
- Yoga and exercise classes to be conducted.
- An outing or holiday party, to be hosted, every year.
- Cultural community, to be created.
- Welcome celebration or any other activity, for a newly hired employee. Moreover, birthdays and anniversaries should be celebrated.
- Walking, running and other types OD clubs to be initiated.
- Half day surprises to the whole staff. Moreover giving them a day off on their birthdays.
- Outdoor meetings to be conducted, so as to, change the environment and get fresh air.
- Games and entertainment to be incorporated, in common areas, such as table tennis board, television, etc.
- Health and wellness coaches should be contacted.
Rewarding employees:
- Something special to be done for employees who are helping on extra work, doing work offers for other employees those who are on vacation or on sick /medical leave. These data’s can be managed efficiently by deploying performance management software as they give the facility of task assignment and work comparison.
- Giving them, a paid day off, if employees willing to volunteer for a charity or non-profit organization.
- Professional membership fee related to conferences, of at least one employee, in a year, to be paid by the organization.
- Sending employees cards and letters of thanks. Moreover, their mentors should also give them cards and gifts as a manner of appreciation.
Others:
- Female employees should be allowed to bring their child if her/she is an infant.
- Supporting them, in a case of any personal issues, such as medical issues, loss of an employee, etc.
- A flexible work schedule to be provided, even work from home should be allowed.
- Deploy personalized leave and development plans for each employee.
- Start a profit-sharing or bonus program
- Encourage employees to find a personal fit i.e. connection with the company
- Arrange recreational activities so as to rejuvenate the morale of the employee. Moreover, these activities help in providing the much-needed break from the tedious and dull work schedule.
- Apart from providing incentives, give your employees extra financial help according to their needs and requirement.
- Moreover, be kind and realistic in tough situations with the employees in order to give them a positive vibe when they need it the most.
From the employee’s perspective, the most important thing they consider before approaching an organization is their work culture. Check out the list of companies with some of the most amazing work culture
