Companies with engaged employees are 21% more profitable, according to research by Gallup.
Managing your employees’ performance, and keeping them engaged with your business vision, is key to the present and future success of your business. Your people are one of the most important assets in the business, and you need them to be motivated, productive and hitting their targets.
But how do you manage employee performance in a way that promotes this kind of productive engagement, while delivering the value you need in the business?
Driving true employee engagement
People are diverse and complex. We don’t all react in the same way to being managed in our work, so there’s no ‘one size fits all’ approach to employee performance.
The key is to get to know and understand your team, so you have a better feel for what motivates them, how they like to be rewarded and their own personal goals.
To improve your employee performance and engagement:
- Hire the right people– this may sound obvious, but good performance starts with having the best people for the job in the team. Make sure any new hires understand your vision and share your core values. If employees already fit your ideal personal profile, there’s less work to do when aiming to manage their performance.
- Set clear expectations and targets– if you set defined targets for employees, there’s a clearer performance framework for them (and you) to work within. Setting targets and goals gives impetus to their work and allows you to put a timeframe around when, and how, these goals will be achieved.
- Carry out performance reviews– formalised performance review meetings can be a good way to track performance and have meaningful conversations with employees. But, be aware that some people can resent these formal reviews and will view them as being ‘put on the spot’. The key is to know what works for your people. Tip: Make it a two way conversation with opportunity for your employee to provide feedback on areas in the business that could be improved or ideas they have. Your staff will feel listened to and valued and you’ll gain valuable insight.
- Give on-the-spot praise– many millennial and younger Gen Z employees prefer on-the-spot praise and feedback to a formal review process. And this approach can work well. If a team member does a great job, tell them and be transparent around your praise. And offer rewards that actually resonate with what employees want.
- Provide opportunities to develop– career development is something people increasingly expect from their employer. Providing the support, education and guidance needed to excel will benefit both parties; your employee gets to develop their career, and your business gets the benefit of their additional talents.
If you want to kickstart your employee performance, start by creating a culture of engagement. Nurture, measure and reward good performance, so your team are aligned with your business vision.
Strong staff engagement results in strong business performance.