Blog

Performance Management Tips

By March 12, 2020 No Comments

Because industries are advancing in all sectors, employees and potential candidates will need to seek higher qualifications to stay competitive in the marketplace. Bachelor’s degrees have been the common baseline for most jobs in the marketplace, but as the markets become more competitive, employees should look for master’s degrees becoming the new normal. However, it is not just the degree or type of qualification that matters; it is just as important to ensure that the quality and intensity of such qualifications progress.

Over 20 years, researchers predict that those without qualifications will significantly decrease, and those with higher education degrees will significantly increase. So how can those without bachelor’s degrees or qualifications remain competitive in the candidate pools?

Here are some ways that both employees can seek opportunities to expand their expertise, and employers can set their employees up for success.

Performance Management Tips

Performance management system. Performance management systems allow HR departments to properly track real-time feedback, employee communication, training employees, ongoing progress review, goal setting, and other performance-related tasks.1 Investing in a proper performance management system and HR team to run it can assist with ensuring your employees remain compliant with company policies and procedures, are up-to-par with their skillsets, and provide ample opportunity for your employees to grow in their careers.

Performance improvement plan. Performance improvement plans are typically utilized for poor performers and/or behavioral issues. These plans are to increase productivity, improve quality of work, create a stronger relationship between employers and employees, and employee retention. The general process includes recognizing the good, identifying a specific issue, discussing feedback, setting time frame and expectations, providing the appropriate support, developing a follow-up review process, and discussing consequences.2

Upskilling. Upskilling is becoming more popular in workplaces because the primary purpose is to add value to current employees and create higher employee retention as well as employee fulfillment. Developing soft skills, technical familiarity, and continuing education are all upskilling practices that employers can utilize.

Employer-sponsored tuition assistance. As part of upskilling, continuing education can allow employees to advance in their careers, as well as build their soft skills. Employer-sponsored tuition assistance can provide employees the incentive to continue their education. As you raise the bar, your employees may find it more opportunistic to chase down that master’s degree they’ve always wanted but couldn’t afford with an employer-sponsored tuition assistance. There are many local and online universities that offer certification programs to businesses looking to create an employer-sponsored tuition assistance program.

Internship/Mentorship. Internships allow students to receive guidance from experienced professionals in their field of interest, as well as learn vital skills and insights to the industry they wish to pursue a career. Mentorships allow two advantages to employers: (1) mentorships provide employees the opportunity to step up as a leader, and (2) showcases both senior- and junior-level employees’ enthusiasm and motivation to learn and improve. Employers can save the time and money of training new employees with internships, as well as increase internal promotion and employee retention with mentorships.

Every business has unique pain points and looks for effective, long-lasting solutions. If you’re experiencing the challenge of recruiting and/or retaining quality talent, reach out to our team of HR experts at Harbor America. We understand the value of retaining employees and the time-consuming, frustrating process of seeking candidates to fill vacant positions. Your business is important to us. Harbor America is your partner PEO provider who can streamline your business processes to alleviate your time spent on back-office administrative tasks and focus on growing your business. Contact Harbor America today to explore our suite of full-service HR solutions.

 

1 What is a performance management system?

2 HR Insights: Performance Improvement Plans

Source: You’ll Need More and Better Qualifications to Get a Job in 2027

Leave a Reply