This is a guest post from Linda Ginac, founder and CEO of TalentGuard, a global provider of award-winning career pathing and talent management software. Inventive and driven, she is known throughout the industry for disrupting HR technology and is the inventor of the first commercially available career pathing software solution designed to optimize employee engagement and retention.
Many HR departments around the world face the same challenge: effectively managing a diverse workforce. Part of the struggle in talent management for companies is understanding employee needs and how to fulfill them over time. While some organizations thrive in this arena, others fall short, creating an environment where employees are disengaged, lacking morale, and on the hunt for a new position at a different company.
Keeping employees connected with the work they do and the organization that employs them is tightly linked to recognition. The companies that have high retention rates, attract the best talent, and maintain an engaged workforce over time understand the importance of recognition across all facets of the company. However, providing timely, accurate recognition to the employees who deserve it the most is often easier said than done.
Fortunately, technology has created new ways to deliver employee recognition for the accomplishments they achieve, most notably through performance management software.
Why Recognition is Necessary
Before understanding how performance management software affects positive change in recognizing employees, it is essential to know why recognition is so valuable.
First and foremost, employees around the world are, more often than not, disengaged in the work they do. One driving force behind a lack of engagement is a lack of recognition from peers, managers, and the company as a whole. Employees are more prone to be highly engaged on the job when they are happy, and happiness is a direct outcome of recognition.
Proving employee recognition not only improves the mood and therefore the engagement of individuals; it also creates a workforce that is more likely to stick around for the long-term. High turnover rates cost companies millions each year, and low retention bleeds into wasted recruiting efforts.
Organizations can keep turnover expenses down while simultaneously attracting top talent by having a culture built on recognition. Performance management software lends a necessary hand in this process.
Effortless Recognition with Performance Management Software
Over the last several years, a shift in performance management has taken place among companies in nearly all industries. Instead of focusing on out-dated tactics for delivering performance reviews and appraisals, organizations are moving toward continuous performance management with the help of technology. Performance management software allows companies to create a system that connects organizational and individual objectives while offering real-time feedback and recognition based on employee accomplishments. Managers and supervisors have a seamless way of recognizing and rewarding team members for a job well done, based on their contributions to the whole.
In addition to real-time, accurate feedback and recognition for employees, performance management software also acts as a comprehensive review system. There is no need for managers to rely on old or irrelevant information about an employee’s performance for the appraisal process. Instead, they can use the data found in the performance management system to inform the review more efficiently. This allows employees to feel more connected with the company, and ultimately, recognized for the work they have done over time.
Finally, companies that use performance management software may also use ancillary systems to help with employee recognition indirectly. For example, implementing a career pathing software makes it easier for employees to take control over their career development and progression over time. When these details are easily seen by management, the information can be used to dictate recognition activities and valuable feedback for individuals.
Understanding why employee recognition is important in today’s work environment is a must for any organization wanting to improve outcomes. While not every organization uses the same strategy, implementing a system that includes a modern approach to performance management with a focus on recognizing employees makes the process easier and more efficient. Companies that want to increase engagement, keep retention rates high, and attract new talent can use performance management software to achieve these objectives over time.
About the Author: Jocelyn Pick
