Is your team surviving or thriving? Are they doing just enough or striving to improve?
According to studies from Gartner, nearly 60% of the workforce needs new skills to do their jobs right.
As shared in an article from Forbes, “To stay current, the key is upskilling. This is the capacity you have as a company to train and develop your employees. Put it on the ‘must-do’ list. Why? Competition. You’ve got to stay competitive in the marketplace. Because we are bombarded with constant and significant technological innovations and artificial intelligence (AI) in the workplace, expanding your staff’s skill sets is a win-win.”
Not only will upskilling improve performance and your company’s competitive edge, but it will also help retain and build a talent pipeline.
A LinkedIn report revealed that 94% of employees surveyed would stay with a company if it invested in their continued learning and development.
It’s the fourth quarter and time to start planning for the new year!
Neither managers nor employees see any value in an annual, one-sided review, and are discovering the benefits of collaboration in developing work plans and goals that help employees remain focused and motivated and help managers increase employee retention.
The Truvelop app was designed for two-way conversation between the manager and the employee, fostering ownership and agency for employees in their personal growth and development. Both the employee and the manager can view the dashboard, previous evaluations, and history of conversations.
While communication is important, goal setting is critical to ensuring employees have a pathway to success which drives motivation and reduces turnover. Goals encourage career advancement opportunities through stronger decision-making and more efficient work that comes from setting clear goals.
We are no longer doing a “set it and forget it” type system. We are putting in checkpoints and adjusting when needed. Establishing clear goals can help to give you a sense of direction, but also gives you the ability to adjust at the checkpoints to make sure we are still on the right path.
A common phrase in performance management is SMART goals, but we like SMARTER goals:
The OKR framework is a great way to develop and track goals:
- Objectives– goals that inspire and set direction – where do you need to go?
- Key Results– steps that measure progress towards an objective – how do we know we are getting there?
- Initiatives– tasks required to drive progress of key results – what will you do to get there?
With the Truvelop app and the feedback tool, Spark, managers can check in with employees, encourage them with positive notes, and employees can ask managers for evaluations or feedback on progress.
We live in an agile world so we need agile goal-setting. Evaluating progress and making adjustments even if it means taking a detour or a pause, will help employees feel confident in their development.
Contact us today to learn more about our modern approach to performance management and development and how it solves for retention. Don’t just take our word for it, see what our Customers have to say.