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Ebook Employee Engagement Performance Management

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This ebook is a compilation of presentations and webinar slides on performance management solutions for employee engagement

This ebook is a compilation of presentations and webinar slides on performance management solutions for employee engagement

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  • 1. eBook Table of ContentsI. Connecting work and Productivity in 2013 & Beyond g y yII. Social Feedback for Employee Engagement: The ROI and How To Approach P f A h Performance Management M tIII. Employee Engagement WhitepaperIV. Social Disruption of Technologys Impact on the Way We Work
  • 2. I. How To Approach Performance Management gII. The ROI of Social Performance Management March 26, 2013
  • 3. How To Approach Performance ManagementKey Success Factor: Employee driven feedback guided by managerobjectives supported by a standardized performance process. Encourage frequent social feedback and recognition regarding goals management driven by employees. “Point & Click” communications for managers supported by a standardized performance management process.
  • 4. Aligning Human Capital Strategy with the Organization Vision Mission Culture C lt History Core ideologyEnvironmental Realities Current norms Organizational Realities Size / complexity / maturity Competition Organizational Strategy Industry / business Objectives Economics Core competencies Product competitiveness Strategy for competitive advantage Critical success factors Geography/ market coverage Social / political climate Performance criteria / standards Critical human capital requirements Natural resources Stakeholder expectations Organizational Structure Structural design Learning capacity L i it Labor skills supply Function / unit relationships Resources available: Coordinating nonemployees Workplace design – capital Infrastructure Employee role definition – technologyProduct & market characteristics Human Capital Requirements – intellectual property – infrastructure Human Resources Strategy – human resources Performance Management
  • 5. Linking Performance Measurement Systems to Organizational StrategyOrganizational Critical Measures of Performance vs. Reward Strategy Success Targets Performance CST Expectations Allocation Organizationwide Team/Unit/Group Individual Performance Management System Performance Performance Performance Reward Measures Expectations Measurement Allocation Value Creation (or loss)
  • 6. Performance Management Wheel Employees seek  Teams have a vested  f db k t i i feedback to maximize  i t ti k ’ interest in coworker’s  their contribution performance To produce Strategy Driven Performance, all Corporate  employees must be fully engaged, capable, and Strength aligned. g Builds loyalty in a  Unleashes a drive to  Unleashes a drive to be creative/exceed  supportive climate expectations ALIGNED Performance Management CAPABLE Learning & Growth ENGAGED Talent M T l t Management t March 26, 2013 6
  • 7. How Much is EmployeeDisengagement Costing Your O Y Organization? i i ?
  • 8. The Business Case for Employee EngagementThe Business Case for EmployeeEngagement:XOnly 1 in 3 employees is engaged.XGreater than 80 percent of U.S. workers are The Bottom Line: Organizations that usedissatisfied with their performance reviews. Human Capital Management processes outperform the competition.X4 out of 5 employees are not satisfied with the  44% higher revenue growthlevel of recognition they receive at work work.  26% higher revenue per employee  109% higher retentionImpact of a Perform Culture is nearly 4Xrevenue growth and 10X net iincome growth. th d t thEngaged employees are 2X more productive at Disengaged Employee Engaged Employee work. - Going through the motions Emotionally Connected.Feedback dF db k and recognition f th motivates iti further ti t - Often invisible  Overachieve Overachieve. - Dutiful, but negative  Discretionary Efforts.employees. - Show up only for  Love their jobs. check-ins  Believe in theirGoal setting improves performance by 15 to 25% - Negatively impact the employers’ goals.depending upon job type type. team  Positive influence on - Don’t leave the coworkers and organization department performance. March 26, 2013
  • 9. What is the price of employee engagement?  Today, only 1 out of 3 employees is engaged. What is not measured cannot be improved. Engagement Level Definition % of Employees Passionate about their work Fully Proud of their job and company Engaged Will do what it takes to deliver results on time Acts like a true owner employees are p y Delivers consistently 122% more Problem solver approach productive. Serves as a role model Focused 10-25 % of the employee Works well with others and will help out when asked population. Somewhat Engaged Selective about where they put their energy Spends a lot of time doing tasks (not results oriented) (75% productive) Does what it takes to get by 30-55% Only works when they have to, Poor results Has a “We”—“They” perspective Negative about the organization Disengaged Employees Negative around coworkers and customers Going through the motions and often invisible (50%) Dutiful, but negative Show up only for check-ins 20-35% Negatively impact the team Don’t leave the organization
  • 10. BullseyeEvaluation® Performance Management System©The cost of partially engaged employeesThe cost of partially engaged employees Example: Employees  (EE)  = 500 Average compensation  = $50,000 Plus 28% benefits  = $64,000 per EE Annual payroll  A l ll = $32,000,000 $32 000 000 Assume 35% (175 EE) are somewhat engaged or disengaged (Level 1,2) At 65% performance level = $3,920,000 overpayment or lost ROI per year = $250,000 overpayment or lost ROI per month What would you pay $5 to have engaged  employees? Engaged Employees add 5‐10% to the bottom line! Source: Human Capital Institute and Aberdeen Group
  • 11. BullseyeEvaluation® Performance Management System©Human Capital Value PropositionHuman Capital Value Proposition When people are fully:  The result is:  • Communication  Strategy Driven  Engaged & feedback Performance • Learning &  Capable Growth Aligned Ali d •C Corporate Goals t G l
  • 12. March 26, 2013
  • 13.   Connecting Work to Productivity in 2013 & Beyond www.bepms.com | 877-988-9808 www.bepms.com | 877-988-9808
  • 14.   “You can’t have a positive customer experience without a positive employee experience." - VP, Fortune 500 Kelly Services, IncWhy Worry About Employee Engagement? With all the numbers and statistics that pass across executives’ desks, it is no wonder the employee engagement score feels like one drop in a very large ocean. But it’s not. Employee engagement is a business measurement like no other. ‘Engaged’ employees work harder, stay longer with their organization and deliver better customer service. The greater the proportion of your staff that make it into the ‘engaged’ category, the higher your performance is likely to be on almost every count.So, if you’d like to live in a world where more of your employees do all of these things, thispaper gives you the tools to make it happen. No matter what your legacy issues may be, orwhat your employee engagement results have been in the past, it is possible to create a highlyengaged workforce quickly, easily and without disproportionate investment in time, money ortechnology.Engagement is NOT an annual survey.Engagement is frequent, relevant and meaningful feedback and recognition. And the right toolswill deliver exactly this. There are four key reasons to get engagement right in your organization: 1. to raise productivity 2. to improve service 3. to reduce turnover, and 4. to get the most out of workers www.bepms.com | 877-988-9808
  • 15.   Millennials and “NoCollar” Workers will Constitute the Majority of the Workforce by 2015The workforce has shifted with the majority of new hire workers being Millennials and a third ofworkers being “no-collar” workers.“No-collar” workers include contingent workers, 1099 contractors, agents, supertemps, stay athome employees, consultants, and free agents.The foundation of the Millennial employee mind-set is different from that of older generations.Generation Y (and all those coming after them) have been parented and educated differently,and the technology that may have influenced us all has fundamentally shaped who they are.Broadly speaking, Millennials tend to value and expect:• constant feedback• connectivity• self-expression• opportunity and reward for a job well doneMillennials are unlikely to feel that long years of effort at any one company in exchange for aseries of incremental raises and promotions is pointless. To them, success is not defined byrank or seniority, but by what matters to them personally.Given the different expectations and motivations of the four generations that are now workingtogether in many organizations, a 2-D staffing model is no longer good enough. If your hiringand management practices do not fit with the demographics and psychographics of today’sworkforce how will you compete for new talent and retain what you have already got?The organization is now flat and social. Networks and virtual teams mean that the way wemanage work and workers has changed. Above all, management needs to be adaptable andflexible, yet it still must be fair. To develop a truly engaged workforce that includes allgenerations, organizations will need to focus on measuring performance, not hours. www.bepms.com | 877-988-9808
  • 16.   • Replace manual, error-prone reporting. • Social management (via alerts and KPI Dashboards for example) improves service delivery, customer service KPIs, and creates revenue opportunities. What gets measured gets improved. “The outcomes gained from this are increased “We use Bullseye for Social Management to better workforce engagement, lower turnover, better execute. Performance management and alignment governance of process, improved efficiency of individual goals with corporate intent is essential and effectiveness, better financial results, the to achieve speed in the execution of strategy.” establishment of a performance culture and – Executive Vice President Americas ultimately successful execution of strategy.” – Managing Director APAC People are inherently social. By redefining how we manage and by striving to betterreflect how people prefer to work in today’s information-based economy, we create synergies,improve communication and collaboration, and eliminate waste. Alignment of individual and team goals with corporate intent is essential to achievespeed of execution. In doing so, activities are properly focused and the variability of operationsis continually re-aligned to the objectives of the activities. When executed properly, theoutcomes gained from this integration are increased workforce engagement, lower turn-over,better governance of process, improved efficiency and effectiveness, better financial results,establishment of a performance culture and, ultimately, successful execution of strategy. Social technology provide employees with constant feedback and recognition in realtime. Recognition is important to all employees, but especially to incoming Millennials. Most www.bepms.com | 877-988-9808
  • 17.  employees, 69 percent, said they would work harder if they were better recognized, according tothe recent Workforce Mood Tracker survey.1 Also, employees have access to careerdevelopment and succession planning tools and information. A mapped out career path forindividuals creates higher engagement and a continuous cycle of self-improvement. These twomethods for creating employee engagement and increasing retention have a measurable impacton the bottom line. “U.S. businesses lose approximately $11 billion annually due to employeeturnover…With recruiting costs running approximately 1.5 times annual salary, the ability toengage and retain valuable employees has a significant positive impact on an organization’sbottom line.”2 Social technology has the potential to help high performing companies re-engage theiremployees. 2/3 of companies are already using a social solution, whether it is in the recruitingprocess or online advertising and marketing.3 Those that apply these same strategies in-housesee the greatest rate of success. Social solutions, as part of a performance managementsystem, provide timely feedback, proactive management tools and better communication andvisibility. Once employees feel recognized and valued, engagement begins to climb. A recentsurvey by Workforce Mood Tracker shows the importance of recognition to employees (and itwill become even more important as more Millennials enter the workforce).4  69% of employees would work harder if they were better recognized.  78% of U.S. workers said being recognized motivates them in their job.  49% of employees said they would leave their current job for a company that clearly recognized employees for their efforts and contributions.  Among respondents who stated they plan to search for a new job this year, only 24% are satisfied with the level of recognition they receive at work. Conversely, 63% of employees who do not planto leave are satisfied with their level of recognition.  65% of employees satisfied in their roles said they would also work harder if they were better recognized at work.  78% said being recognized motivates them in their job.                                                            1 Social knows: Workforce mood tracker survey. (2011, August 8). Retrieved from http://www.thesocialworkplace.com/2011/08/08/social-knows-employee-engagement-statistics-august-2011-edition/2 Lipman, V. (2012, December 14). Study explores drivers of employee engagement. Forbes, Retrieved from http://www.forbes.com/sites/victorlipman/2012/12/14/study-explores-drivers-of-employee-engagement/3 Harvard Business Review. (2010). Sas business analytics and business intelligence software. Retrieved from http://www.sas.com/resources/whitepaper/wp_23348.pdf  4 (2012) Mood Tracker Spring 2012 Report. Retrieved from http://globoforce.com/mood-tracker-spring-2012-report. www.bepms.com | 877-988-9808
  • 18.  The Importance of FeedbackTo help organizations align goals rapidly, engagepeople and drive significantly better business outcomesongoing feedback from the front-line to managers isneeded. The ability to recognize valuable contributionand provide candid and timely feedback leads tocoaching which ensures rapid alignment of activitieswith goals.Plus, continuous feedback eliminates surprises. AlmostALL employees feel feedback is too little, too late.Social Performance ManagementTechnology Use Cases  Engage and mobilize high performing teams to achieve rapid alignment and make direct business impact.  Uncover hidden talent within the organization, create retention plans for them and reward key information brokers for their contribution above and beyond their duties to engage them further.  Employees at one of the major consulting firms did away with internal email and use social feedback whiteboards for each project and team.  A global staffing firm with 2300 global locations empowered each employee and each team with social feedback tools and KPI dashboards to engage and deepen the supplier to client relationship.  A regional healthcare community group leveraged these tools to bring attention to customer service priorities and change behaviors resulting in customer service ratings that matched their excellent patient quality care.  Higher education engaged students through an online feedback process. www.bepms.com | 877-988-9808
  • 19.  Is Your Performance Management Process Killing Performance?Performance Management Checklist: 1. Do employees have an understanding of how their activities and goals drive value to the financial performance bottom-line of the business? 2. Is there a clear link from business strategy to short-term department / functional, or individual goals? 3. Do employees receive the amount of feedback they desire? 4. Are managers and employees held accountable for results? 5. Are coaching and mentoring processes used to support performance improvement requirements? 6. Do you have an employee evaluation process that adds value to the business? 7. Are formal processes used to develop employees to higher performance levels? 8. Are pay practices aligned with the achievement of the business strategy? 9. Are non-monetary rewards used to engage the workforce? 10. Do employees have career development and job performance tools? 11. Do you know what percentage of your employees are highly engaged? Disengaged? If you can’t check YES to the majority of the items below. Get help! www.bepms.com | 877-988-9808
  • 20.  About BullseyeEvaluation, LLCBullseyeEvaluation is a web-based performance management solutions company that helps tooptimize performance of companies, non-profits and academic institutions. We offer the onlynon-forms based solutions for both human capital and operational performance management.Due to mandates for performance documentation, employee engagement, and regulatoryrequirements for the workplace, organizations from around the world turn toBullseyePerformance® because our approach automates, simplifies, and facilitates socialperformance management. Bullseyes employee performance solution improves engagement byfacilitating frequent communication and social feedback. Our business intelligence solutionsdisplay real-time information through innovative key performance indicator dashboards. Ourproducts are user friendly, configurable and quickly deployed! Why Bullseye?You have to see it to appreciate how simple and intuitive  For managers: access performancewe make work management. dashboards at employee, team or corporateThe Cost? level to drive accountability.Would you pay $5 per month to have engaged andaligned employees?The ROI on BullseyePerformance® is a matter of a few  For employees: get social feedback asmonths! needed and self-manage job performance and career development.  For companies: This SaaS solution“I started Bullseye to bring passion and a automates employee reviews based onresults orientation to performance management.” SHRM standards. Compatible with current– Adeel Zaidi, Founder systems as well as mobile phones and tablets.LEARN MORE AT:  Global Capabilities: English, Arabic,WEB http://www.bepms.com/ Spanish, Russian, German, Portuguese.TWITTER http://www.twitter.com/Bullseye10minLINKEDIN www.linkedin.com/in/bullseyeevaluation /YOUTUBE VIDEOS http://www.youtube.com/user/BULLSEYEPERFORMANCE/videos?  Footprint: Houston, Troy, Boston, London, Kuala Lumpur, and Moscow.Bullseye Contact: Louis Posthauer, Director Business  We matter because there is a growingDevelopment, 713-554-0909 | lposthauer@bepms.com mandate to document & drive performance. www.bepms.com | 877-988-9808
  • 21. Social Technology s Impact on the Way We Work Technology’s
  • 22. Executive Summary Situation: Companies are improving their mastery of social technologies, using them to evolve operations and exploit h l h l d l opportunities. Problem Statement: Social Disruption of the way and how we work is occurring because of the changes in employee and their work requirements Future work will requirements. not be the same. Companies should prepare for more substantial disruptions. Opportunities: Social technology is helping replace traditional hierarchical processes with community oriented networks to make work more social. Social technologies can support business: Social processes and social workflows Forge stronger links Navigate and interact with external Employee lifecycle Cost of Not Implementing Solution = Limited to current organic growth.
  • 23. Social WorkThe impact of social disruption on the way we work also impactsthe way we hire, grade performance, manage, promote, and retaintalent. Managing Social Technology Solutions 101:With social, HR & staffing is evolving into supporting managers in 1. Social Workforce Solutions are Not Just for Millenials.their operational capacity and not from a pure HR function. 2. Use Social Tools Empower the Workforce. Technology implementation is easy, getting employees to collaborate is 301.Business failure occurs when innovation does not occur. Failure •Social Recruiting 3.0.occurs when technology alone is viewed as the savior as opposed •Social Performance Managementto an integrated solution. •Social Management Monitoring g g •Social Sales & MarketingThe market for workforce solutions is much bigger than the HR •Social Communitiesdepartment. Career planning, training, etc. apply to every function •Social Intelligence & Analyticsand role of an organization.
  • 24. Social Workforce Management Investment Thesis•Time. employee productivity, downtime. Businesseswasted millions of dollars every year paying foremployee downtime. The more productive employees p y p p ywill make more monies.•Output. Each employees work can be directly tied tothe bottom line.•Social Currency. our reputation & network is ourprimary source of information and currency. The value ofinfluencers, networks, & other communications willbecome part of the key value of a new hire, orpromotion.•Product development. Use social technologies toderive customer insights and interactions duringdevelopment and beyond.•Marketing and sales. Use social technologies toderive customer insights; for marketing communicationsand interactions; to generate and foster sales leads;social commerce. i l•Customer service. Use social technologies to providecustomer care across multiple mediums (chat, email,telephone, kiosk, video, etc.)Ask yourself: have we created a talent model thatintegrates social into our resources properly to providethe best workforce solution for each job?i.e. do we have the right person for the right job at theright price for the right amount of time?