five steps to better performance
TRANSCRIPT
Five Steps to Better Performance
THE IMPACT OF INVESTING IN PEOPLE
Research from Investors in People found that the way people are managed could make a huge difference to productivity ad performance—resulting in a potential efficiency gain of £77 billion to the UK economy.
At a sector specific level, adopting best people management practices could net the professional and services sector a £29.9 billion boost in output, while the health and social care industry could stand to make a £2.4 billion productivity gain.
With so much to gain, what is it that high-performing companies are really doing?
THE IMPACT OF INVESTING IN PEOPLE
The report suggests the key to improving efficiency and performance lies in paying attention to six key factors:
1. Strong and inspiring leaders2. Having set values3. Recognising and rewarding performance4. Structuring work5. Focusing on continuous improvement6. Sustainable practices
RECOGNISING AND REWARDING PERFORMANCE
Interestingly, recognising and rewarding performance came out as probably the most significant factor in terms of improved efficiency.
“Feeling rewarded at work is such a simple thing, but we found it mattered a huge amount,” said IIP Head of Marketing Thomas Bale, in an interview with HR Magazine.
So, how can you make sure staff in your business feel appreciated and are motivated to take their performance up a notch?
1. GET THE GROUNDWORK RIGHT
Peoples’ performance is often not as good as it should be because they are not clear what it is their managers want them to achieve. Faced with a heavy workload and conflicting priorities, they often do what’s easiest and respond to whomever shouts the loudest.
1. GET THE GROUNDWORK RIGHT
Employees need clarity about their overall objectives, exactly what they are expected to achieve, by when, and how success will be measured. That way they will be safe in the knowledge that they are doing the right things and motivated o go the extra mile.
2. GIVE ONGOING FEEDBACK
In an environment where business priorities are constantly changing, the formal annual appraisal is simply not enough. People need just-in-time feedback so they can shift their approach, develop new skills and constantly find new and better ways of doing things.
2. GIVE ONGOING FEEDBACK
Most people are hungry for feedback. They actively want to do a good job, improve their skills and please their managers. The sad truth, however, is that many managers don’t know how to give feedback effectively—and in some cases are even frightened of doing so in case they upset people.
2. GIVE ONGOING FEEDBACK
Feedback that is ongoing and focused on what people are doing well (and how they can do more of it) will make employees feel more appreciated and set them on a path towards continuous improvement.
3. PROVIDE RECOGNITION
Research has shown that the Generation Y employees—who are starting to play a significant role in the workplace today—are hungry for praise and recognition. They are used to sharing their achievements on social media and are less afraid to blow their own trumpet.
3. PROVIDE RECOGNITION
Publicly praising staff for their achievements—big or small—makes people feel appreciated and can provide a real boost. Try highlighting excellent performance in the internal newsletter, on the intranet, at departmental or team meetings, or even via professional and sector press if appropriate. “Employee of the Month” or “employee hero” type award schemes have also been used in good effect in some industries and are worth considering.
4. GET CREATIVE ABOUT REWARDS
What you pay your people is of course, very important, but the reality is that in a competitive market, you are not always going to be able to match the bigger players when it comes to salaries. There will always be people who are only interested in chasing the biggest pay packet, but there are plenty of others who are equally motivated by the non-monetary rewards.
4. GET CREATIVE ABOUT REWARDS
Review your wider benefits package and find out what staff would really value. Make sure it is flexible enough to meet the different needs of employees as they move across age and career spectrum. Don’t overlook training and development opportunities—which are often hugely appreciated by staff.
4. GET CREATIVE ABOUT REWARDS
Try not to fall into the trap of thinking that all rewards have to be significant or expensive. Discount shopping and leisure voucher schemes, for example, are now within reach of most businesses. Even a simple team lunch, or cakes on a Friday, can help staff feel that they are being rewarded for their efforts.
5. SAY, “THANK YOU”
Probably the two most important, and under-used words at work: thank you.
A “thank you for staying late” or “you’re doing a great job,” is often enough to make people feel appreciated and encourage them to stretch their goals. A bar of chocolate with a thank you note on the desk will show an employee that their efforts have been noticed.
5. SAY, “THANK YOU”
Try to build a culture of appreciation across he business as well as just between managers and their teams. A simple e-mail thanking an employee can make their day, and people will work together much more willingly if they know that colleagues appreciate their efforts.
