Employee benefits cost a lot of money, and the price tag seems to keep moving north. As an employer, what do you really get for offering these benefits? Sure, you want to be competitive; your best people have a lot of employment options available to them. (Conversely, if you have problem employees, it seems they have fewer options… so, they’ll stick with you a while longer… right?) You may be concerned that your best people would leave if you changed the benefits package. In addition, you really do care about your employees, their dependent families (if they have them) and their lives outside of work. Benefits provide your employees a valuable safety net for unexpected times. They also provide you with a tax deduction. Still, do you occasionally wonder what the real value is to you as an employer?
- Assuming that employees know the expectations, and they are willfully not meeting the standard (poor attitude).
- No expectation of support from top management.
- No knowledge of standard expectations.
- No standard expectations to manage to.
Here are a few tips to keep in mind when it comes to performance reviews:
- Get the employees to buy into their performance goals. Since they do the job on the regular, your employees should have great improvement ideas. Ask them how they think they should be measured, and use at least some part of their feedback. This will get you buy-in, extra effort and more profits.
- Explain how the employees’ goals are relevant to the Company’s success. If they see the connection, they will trust you more for giving them meaningful work. Trust is a key factor in reducing turnover, a clear drain on profitability.
- Employees tend to assume things are fine unless you tell them otherwise. No news may feel like good news; giving an employee a chance to improve is real good news.
- Review everyone, regardless of their position. In high performing organizations, no one is above receiving feedback, delivered in a respectful manner. Having standard processes for all keeps employees’ attention on production, not grievances, complaints and other activities that don’t produce profits.