The telecom industry is largely responsible for how our world effectively communicates. Telecom employees are highly valued as their efforts contribute to cutting-edge technology and services that shape our future and define our past. It is imperative that these employees are engaged, motivated, and developed even amidst industry challenges.
Stack ranking is a performance evaluation method that measures employees against one another and forces them into categories of top, middle, and bottom performance.
Positives of stack ranking include that it celebrates high-performers and reduces potential bias. Potential downfalls of stack ranking include unhealthy competition, an absence of core values assessment, it can create an anxious workplace, there is often a lack of consideration of additional performance factors, and it can lead to high turnover costs.
Best practices include transparency and fairness, clear performance expectations, and communication.
Thoughtful performance management and equitable compensation together make a people-first partnership that is essential in today’s business environment.
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A mid-year performance review is a conversation that occurs every 6 months. It provides crucial conversations sooner, aligns employees and managers, and sets performance reviews up for success. It is an excellent time to talk through how the employee is meeting- or not meeting- performance expectations and displaying workplace behaviors/core values.
A performance management (PM) system is a process for monitoring employee work efforts in one place, including aligning goals to the organization’s mission and vision, continuous feedback practices, and employee growth and development.
The finance and insurance industry is finding it difficult to attract and retain top talent amidst tight competition. Implementing proven performance management practices will allow these companies to address these challenges, while also fueling employee engagement and improving business results.
Healthcare professionals face burnout, job dissatisfaction, and turnover, adversely impacting patient and business outcomes. The best strategies for facing these challenges include improving employee retention, increasing engagement, and focusing on overall workplace performance.
The manufacturing industry is facing a talent crisis, with over 70% of industry leaders finding it a top challenge in managing the production workforce. The challenges include finding talent, retaining talent, tracking performance metrics, establishing and tracking long-term goals, measuring employee engagement, and embracing core values/workplace behaviors.
