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on 22-Apr-10 02:22.
Poor Performance Reward and Recognition
by Chris Herrmann
The most effective tool in a manager's toolkit for dealing with poor performance is coaching. Not screaming at them from the stands and withholding rewards, but working with them down on the pitch to find out what's causing the problem and building their fitness and stamina like the corporate athletes they should be.
The study of how we interact with one another in society is called Transactional Analysis. This research has broken down the complexities of the hundreds of interactions that we have every day into a simple model.
In principle, there are three modes we can adopt in any transaction that we participate in with another human being. We can choose to be Adult, which is a non-judgmental, constructive approach. We can choose to play the role of a Critical Parent, which involves being highly scathing and negative, or we can choose to take the role of Child. There are a few variations on the child role, but the simplest is the submissive, fearful role; a bit like catching a rabbit in your headlights.
on 22-Apr-10 02:20.
Moving the Needle on Employee Engagement and Commitment
by Regina Barr
When it comes to employee engagement and commitment to an organization, most companies would agree that they ‘have some, want more'. Why? These companies have come to recognize that their organization's long-term success relies on employee performance, which is directly impacted by the level of employee engagement and commitment to an organization.
How is employee engagement and commitment defined? According to a 2003 report by Towers Perrin, it is defined as "employees' willingness and ability to contribute to company success". What does that mean in real terms? It is the extent to which your employees are willing to put discretionary effort into their work in the form of "extra time, brainpower and energy".
If you're like most corporate leaders, you are probably thinking to yourself, ‘wishful thinking". Worse, some corporate leaders think that simply making people happy and paying them more money is the solution. Not so. These are certainly important considerations for any company that wants to attract and retain the most qualified individuals, however, they are less important when it comes to engaging employees in their work. Further, engagement requires both a rational and emotional commitment. And, as you might suspect, it is far more difficult to engage employees emotionally. You have to engage not only their minds but their hearts as well.
on 22-Apr-10 02:18.
How to Design a Good Incentive Plan
by Bob Normand
Incentive plans should not result in arbitrary distributions of money casually decided upon by senior management. Instead, a good incentive plan must be quantified, must be a predictable result to the employee and must be directly related to measurable performance beyond the norm. This differentiates incentive plans from savings or retirement plans.
Incentive Plans Should Be Universal
Get your entire staff to pull in the same direction by designing your incentive plan to include all employees at some level of participation and only after a temporary evaluation period with the company (often 90 days). Many plans include part timers as well as full timers but at a somewhat lesser share of the proceeds.
Incentives Must Be Significant and of Perceived Value to the Recipient
To create a real incentive, the recipient must perceive the potential reward as a significant addition to income. Otherwise, the incentive is looked upon as deserved supplemental income or even a "benefit". To add further to the perceived value, there should be public (company) recognition of the employees' performance.
on 22-Apr-10 02:17.
Employee Performance Reviews - Dealing with Disagreements
by Dick Grote
What do you do when an employee disagrees with something you've written on their performance review? How can you prepare for this and deal with it effectively?
Start by listening to figure out the source of the disagreement. Is it an issue of fact (you wrote that the employee received a customer satisfaction score of 79 but the employee says that his score was actually 83), or is a matter of judgment (you wrote that the employee's customer service skills were unsatisfactory; she feels that her skills are terrific)? If the disagreement involves an issue of fact, get the facts and make any corrections necessary. If it's a matter of judgment, ask the employee for additional evidence. Then determine whether that evidence is weighty enough to cause you to change your mind, revise your judgment, and amend the rating that you assigned on the employee's performance review.
on 22-Apr-10 02:00.
During this past year, business performance management (BPM) became a core offering of the world's largest software vendors. IBM, Oracle, and SAP all now have market-leading products in this area. These solutions are not primarily homegrown but instead are the result of prior acquisitions. This group of companies, along with Infor, SAS, and several others, essentially form the top tier of BPM vendors. Their offerings tend to be comprehensive, combining BPM with business intelligence (BI) and in some cases ERP.
The next group of solution providers is focused on what we define as financial performance management suites. This consists of budgeting, planning, forecasting, consolidation, and reporting, as well as scorecards and dashboards. While this group has been shrinking over the years due to acquisitions by BI or ERP vendors, it is now rebounding and is more robust than ever. Some vendors that had been overshadowed in the past, such as Longview and Clarity, are now coming into their own. In addition, some products developed outside of the U.S. have recently been added to the mix as companies such as Tagetik and Carpio have entered the U.S. market. This group is also the home of some of the most successful vendors targeting the midmarket. Adaptive Planning, with its SaaS offerings, and Prophix are two leading choices in this segment.
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