Booming In the Millennium - Appraisal Management Software

FOR IMMEDIATE RELEASE
Maitland, Florida, United States of America (Free-Press-Release.com) December 5, 2011 -- To say the world is undergoing a huge economic restructuring might be an understatement. Shifting demographics are one of the key factors driving this change. The U.S. economy has grown at an annual rate of around 3.4% adjusted for inflation over the past 50 years (BLS). An important factor in achieving that pace of economic growth has been an increase of about 1.7% annually in the supply of workers.

The Baby Boomers who drove consumption for nearly four decades are now reaching retirement age. Boomers are leaving, taking decades of experience and intellectual property with them. As they do so, many are concerned with having enough money to support a comfortable lifestyle. The millennia workforce will need a 21st century management system, because it is not only younger but different by sex, race, and ethnicity. This workforce is motivated by a different world view. This more diverse workforce force will demand a variety of benefits, a flexible work schedule, clearly defined opportunities for growth and advancement and of course a competitive pay plan.

Now this brings us to an interesting question, What is the purpose of the pay plan? I personally agree with Robert Heneman, who says, “The ultimate goal of the pay plan is to align the goals and interests of the employees with the goals and interests of the organization. Sadly, as I have frequently observed, performance management systems and line of sight bonus schemes are a blunt stick at best. They are rigid structures based on short time results at best and “finger in the wind” opinion polls at worst. See my earlier blog, “Perfecting Performance Appraisal Tools" for more details.

Those in management will have to approach the system in a different way. It will have to be one that creates a culture of achievement, not entitlement. Such a system replaces blunt stick technology with managers tools ensuring employees know exactly what they need to do to excel by fully supporting the organizations goals and objectives.

This may sound like a dream; it is not. Read on.

21st century workforce management includes:

• Ensuring performance standards are clearly defined in each employee’s job description.

• Performance standards are measurable and prioritized according to their impact on Westar’s strategy, goals and objectives.
• From the first day on the job each employee knows exactly what they must do each day to drive success.
• Innovation targets are identified encouraging staff to stretch beyond current job requirements.
• Targets encourage employees to increase their skill certifications, initiate and complete money saving ideas or take on added responsibilities.
• Areas of personal conduct are provided to ensure professional standards are understood.

Appraisals provide management with accurate measurement of job-specific performance for each employee. They work best when equipped with a “Human Factors” rating scale enabling management to develop effective coaching strategies targeting specific skill and motivation affecting overall performance.

Coaching and development are a part of each manager’s role and responsibility. Many managers are unfamiliar with coaching techniques, as they have not received professional training. A structured coaching worksheet linked with the “Human Factors” rating scale will provide managers with a road map to developing successful coaching strategies for staff at all levels of performance.

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