Managing performance in challenging times
Effectively managing the performance of both top tier talent and under-performers takes on new urgency when the economy is weak. If questions exist about the organization's future or the security of careers, top tier performers are least likely to have difficulty seeking employment elsewhere. They are also likely to be targeted by headhunters and rival competitors. Poor performers, on the other hand, are least likely to leave voluntarily. If underperformance is allowed to go unchallenged, an environment of mediocrity may result. Effective performance management ensures that an organization will keep its top performers while challenging underperformers to "raise the bar."
Gaining ground
Employee engagement: More important than ever
In difficult economic times, management tends to redouble its focus on clients and products, which is appropriate. But staying focused on employee engagement - that is, helping employees be fully involved and enthusiastic about their jobs and the organization's success - also has a positive impact on a company's bottom line.
According to a Watson Wyatt 2008/2009 Work USA survey¹, highly engaged employees are twice as likely as their less engaged peers to be top performers. They also miss 20 percent fewer days of work and three quarters of them exceed or far exceed expectations in their most recent performance review. Additionally, highly engaged workers tend to be more supportive of organizational change initiatives and resilient in the face of change.
Key drivers of employee engagement
Here are some things managers can do to ensure associates are effectively engaged:
- Open communication: Speak honestly about the challenges being faced, as well as anticipated direction. Without direct communication, employees will fill the void with worst-case scenarios. Communication about the current state of affairs, especially in difficult economic times when associates are worried about their jobs, is crucial to employee engagement.
- Relationship with the supervisor/manager: In a recent survey, the Society for Human Resources Management (SHRM) collected job satisfaction information for 601 randomly selected employees who work part and full time. "Relationship with the immediate supervisor" was rated 'very important' and was the highest selected category (68 percent of respondents). Be mindful of establishing and maintaining positive and respectful relationships with all of your associates. The time it takes is well worth the investment.
- Recognition: In the same survey, "management recognition of employee job performance" was rated 'very important,' the second highest selected category (63 percent of respondents). Everyone appreciates receiving recognition for a job well done. The recognition can be as simple as a sticky note saying "thank you," but make sure it is genuine and personalized to each associate.
- Mentoring: Show a healthy interest in the career and overall development of each associate. Part of effective employee engagement is dealing with associates on an individual basis. They value the time you take to provide feedback and communicate about how they are doing.
- Opportunities: Providing opportunities to work on challenging projects or to grow within a position is important. Work satisfaction is often more important than salary. When salary increases may not occur at the same level as in prosperous times this element of employee development is even more crucial.
- Relationships with co-workers: Ensure that you are building and maintaining an environment where effective teamwork is valued. Tough times can bring more stress into employees' lives. A positive work environment with healthy team interactions can be a respite from their worries.
Adapted from Supervisor's Extra, Securian Financial Group, May 2009.
¹Driving Business Results Through Continuous Engagement 2008/2009 WorkUSA Survey Report, Watson Wyatt.
