Performance Reviews, Performance Improvement, and Performance Hiring

We often hear about Performance Reviews and Performance Improvement techniques.  Sometimes the Performance Review is called an Annual review or something similar.  Performance Improvement plans are often associated with  poor results or as the last step in helping an underperforming employee out the door.  Both of these “performance” techniques are somewhat reactionary and only address past performance.

Strategic Employers adopt a different view when it comes to measuring and evaluating performance.  They focus on evaluating an employee’s performance before they are hired!  By creating a profile of the desired performance in advance of the actual hire, these employers are able to predict success and performance much more accurately.  There are several methods to creating these profiles, but the time invested in the process has a significant ROI.  For instance, more objectivity is injected into the interview process.  Everyone involved works from the same set of criteria.  This can greatly compress the time-to-hire and more quickly eliminate unqualified candidates.  Another gain is increased retention of the employee.  They are more effectively matched to a role that will allow them to excel, thus increasing their productivity and longevity.

The process is surprisingly simple, yet often missed by most organizations.  Usually an outside party, detached from internal corporate politics, agendas, and preferences, can quickly guide a hiring manager through the profile process.  From there a standard set of interview questions can be created and assigned to various members of the interview team.

Clearing understanding and documenting the successful results of any job in advance of the hire is much more than a job description.  Strategic Employers bypass the traditional descriptions that outline what a person must have and focus more on what they must do to be successful.  This process is a better predictor of hiring success and increased retention.

Aging Parents Can Impact Retention

This Wall Street article is an excellent example of the kinds of issues Strategic Employers embrace and leverage for retention.  A good chunk of the corporate management corps will have to deal with aging parents.  They will look for employers who recognize and support this need when it arises.   How companies react to this issue will also be closely watched by the younger generations.  They know that one day it will be their turn and they especially want to associate with employers who allow them to integrate their lifestyle with the demands of work.  As the labor pool shrinks and top talent becomes harder to find, Strategic Employers will have to pay attention to these issues if they want to attract and keep good people.

“Lack of qualified workers leaves good jobs empty”

There is a myth that the current marketplace is flooded with top talent looking for work.  As this article points out, this is just not true.  Top talent is as scare today as it was before the recession.  What has happened is that Strategic Employers now have more options.  For instance…

1) You should look at your current workforce and ask yourself if you had to do it all over again would you hire the same people?  If  you can’t say ‘yes’ for everyone then the current employment market might give you some options to upgrade.

2) Topgrading should become a strategic priority.  Benchmark your best people with a comprehensive assessment tool and “profit interviews”.  This will help you objectively identify the “keepers” and learn why they stay with your company.

3) Review your onboarding process.  If you can find top talent you want this process to fully integrate them into your company.  Be sure you have flexibility in your onboarding process so you can meet the diverse needs of the four generations in your workforce.
Here’s the article….