beqom Acquires Our Tandem to Transform Performance and Rewards
beqom, the total compensation management solution, today announced the acquisition of Our Tandem...
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Effective performance management depends on effective goal setting. Amid disruptions, isolation and remote working, employees need goals that enable them to effectively manage their work. According to research conducted by Gartner, when employee goals are aligned to the needs and goals of an organisation, employee performance increases by up to 22%.
Therefore, in order to see this increase in employee performance, organisations must establish an effective process for goal setting to help employees meet the ever-changing needs of the business, organise their work with colleagues and take accountability for results.
Start as you mean to go on with clear goals that drive business results and enable employees to be successful with these three simple steps.
To help their team set and align goals, you should provide managers with clear information about your businesses strategy and how it relates to their team members diverse roles. From this, managers should then give their team clear direction that translates that information into specific tasks and actions. Providing both this information and direction together enables employees to see the link between their work and the overall strategy for the company.
Transform goal setting from a solo activity to a team activity. To do this, this requires several steps. To start, encourage individuals to share their goals with their teammates and ensure that everyone understands how their goals relate to each other. This ensures that they are equally accountable for achieving the results outlined in the business strategy.
In the wake of covid-19, organisations need to allow for flexibility with regards to the goal-setting process. This enables employees to build upon and evolve their goals as their roles and the business change. Have employees review their goals with their manager at quarterly meetings (in addition to the beginning of the year). Help both managers and employees identify triggers for adjusting goals, including changes in company or business unit financial performance, staff turnover or technology advances.
Do you want to join some of the world’s best performing companies in availing of a HR platform that not only improves performance and engagement but also empowers your employees? If so, book a free demo with one of our performance management experts today to see how Our Tandem can benefit your team and transform your performance management.