All companies understand the importance of improving employee performance, but there are also plenty of variations in how this process is carried out. Some organizations think that improving employee performance is a simple matter of imposing quotas or maintaining a certain level of productivity. Others simply equate employee performance with the amount of income generated per personnel, or the amount of expenses avoided during a given period. Although these perspectives are correct, they only describe the results and consequences of improving personnel performance, and not their actual features.
Instead, employee performance should be defined as the level of employee training and personnel engagement that an organization offers to its personnel. This engagement is important because it affects all aspects of employee performance, including costs, productivity and efficiency.
Furthermore, employee performance can also be considered as the ultimate result of your organization’s employee development goals, and such goals reflect the level of commitment that your organization is willing to invest on each of its personnel. So in thinking about employee performance, it’s important to always focus on the bigger picture, and here are a few things to help you do just that.
Facts About Employee Performance Development
In order to fully appreciate the importance of improving employee performance, it’s important to look at certain facts. Although many organizations are looking for ways on how to improve employee performance, not all of them are aware of the actual facts. So to put things into perspective, here’s some information that you should consider.
According a study conducted by the Harvard Business Review, around 71% of their respondents cite “high level of employee engagement” as being crucial to their success. Furthermore, around 42% of companies that put a “high priority” on employee engagement communicate their business goals via training and leadership development. What these statistics mean is that employee performance development is often intertwined with employee engagment and training, which means that both are essential for improving personnel productivity.
In addition to improving employee performance through training and employee engagements, it’s also important to point out that performance optimization can also be carried out through incentive programs, and here are a few facts about such programs.
– Around 86% of organizations have rewards or recognition programs.
– Performance incentives are estimated to be worth around $100 billion.
– Non-cash incentives are worth around $46 billion.
– 70% of companies which offer rewards and recognition incentives to their personnel offer 3 to 6 different performance reward programs to their personnel.
So as you can see, there are many ways to improve employee performance. Aside from employee training, there are also plenty of reward schemes that your organization can use to increase personnel productivity.
Why Improving Employee Performance is Important for Your Company
Whether it’s entry level employees training for specific entry level tasks or incentivizing core personnel to learn new business strategies, the final goal is always the same: Better Employee Performance.
Better employee performance leads to optimal lower costs per personnel as well as higher levels of productivity. Furthermore, better performance also corresponds to increased employee loyalty, which itself is valuable to any organization’s long term interests. So with regards to improving employee performance, it’s always important to remember that their results can have far reaching effects on any company.