Performance Management has been unsuccessful in many organizations. Traditional annual appraisals and development programs are no longer appreciated by employees and employers alike. The reason – they aren’t employee centric, meaningful and do not give tangible results. 58% of organizations rate their performance management systems as “C Grade or below.” Statistics shows that only 14% […]
The post contains a case study of one the largest financial service providers dealing primarily in remittances, foreign exchange and bill payment solutions. The company has a large support staff of more than 2,200 employees spread across 800 offices in 31 countries to provide end-to-end financial services to worldwide customer base. The company faced challenges […]
“Empxtrack turned out to be the perfect solution for our business as we aimed to introduce a more formal and streamlined annual goal-setting and performance evaluation process in 2018. It is simple to set up, requires minimal time and effort to administer, and user-friendly for our employees. In addition, the customer service team is highly […]
“Time is Money.” You must have heard this popular saying before. It clearly indicates that the real cost of poor time management is more than a billion dollars. It leads to performance issues and affects overall business productivity. What is the solution to this problem? Is there a way to motivate people to change their […]
Gen Z – The True Digital Natives Who Use Technology as Their Superpower Technology Savvy. Spontaneous. Emotionally Intelligent. Digital Natives. Practical. All these terms define Generation Z, or iGen, and their behaviour. In a Forbes post, Gen Z has been referred as Post-Millennial generation categorizing people born from the mid-1990s to early 2000s, comprising of […]
Who wouldn’t love being able to work remotely from home? Isn’t this an attractive job perk? With the rise of digital independence, the working landscape has changed dramatically. Employees are demanding better work-life balance, and most employers have adapted and offered occasional work-from-home days to meet employee needs. Work-from-Home – The concept is extremely meaningful […]
In the past few years, the term “Performance feedback” has become as important as Client Satisfaction. Feedback sessions are essential to keep employees informed about their strengths and weaknesses. Feedback provides guidance, lead people to perform better. Providing constructive feedback is imperative. Having meaningful and insightful conversations with subordinates to discuss their performance and behaviour […]
“Employees are the most important asset of an organization.” You must have heard this catchphrase before. In fact, some of you are already tired listening to this age-old phrase repeatedly. But hold on and think for a moment! What have you done to nurture and retain this asset? Does your organization offer best work culture […]
Introduction: This article addresses one of the major concerns of a CEO: ‘How to improve employee productivity?’ It is to be read in continuation with my previous article on ‘Organizational Climate: Managing Business Performance’. The approach below is based on experience and suggests the launch of corporate initiatives based on employee feedback. It also proposes […]
Traditional Performance Management approach is broken! Experts believe that old school performance management approach is inaccurate and unfair, as it limits managers and HR to a time-consuming review process and does not yield clear improvements in organizational or individual performance. It has been more about measuring employee performance to meet ranking purposes, rather than focusing […]
According to a Harvard Business Review study, only 15% of the company’s workforce are difference makers. That means, roughly only 1 out of 7 employees is a real player! Well, the “Star” employee is not the subject matter here, it’s the remaining six! Companies face various issues when it comes to overall company efficiency, and […]
Well, we humans have been labeled with the tag of being social animals for a reason. And the biggest execution of that tag can be clearly seen at an organizational level. Believe it or not, the success or failure in communication at a workplace determines the future of an organization. Undeniably, success is the ultimate […]
Banking and Finance System is the backbone of human civilization. 100% of human population interacts with banks on a nearly daily basis. Banks and Financial Institutions have witnessed a lot of economic turmoil in the past and continue to experience so. Last decade experienced several heavyweights of the industry stumble and collapse without much warning. […]
Healthcare is one of the fastest growing industries. To offer quality care to patients, a large pool of well-trained, dedicated medical professionals and cost saving clinical procedures are required. Besides employing doctors, nurses, medical residents and interns, healthcare sector also has support staff – people involved in front desk to back end transactional operations. Undoubtedly, […]
Today, when online shopping has become a prevalent trend, retailers try hard to defeat cut-throat competition and retain customers. Performance of retail employees play a significant role in improving operational efficiency, building customer loyalty and boosting profits. Expectations for better services and excellent customer experience are escalating with each passing day. Offering great shopping experience […]
Handling a Human Resources (HR) department nowadays can indeed be tough. Staff attrition is the biggest culprit in making this otherwise enjoyable job to unbearable drudgery. Admittedly, no organization of any repute wants staff attrition. Attrition is often caused by absence of loyalty. There are several reasons why employees nowadays are less loyal to an […]
Setting employee goals in a transparent manner and continuous measurement of employee achievements is critical to business success. While a lot of effort is put into setting goals and documenting them, the need to track real-time progress of goals and measure performance often remains underestimated. This results in loss of productivity, disengaged teams, and under-utilization […]
By 2020, millennials will form the largest part of the entire U.S. workforce. Reports say that millennials constantly change their jobs, if they don’t feel valued or find no career growth at their current workplace. To meet their expectations, companies are trying to figure out ways to engage and retain millennial talent. Out of many […]
In today’s global economy, companies prefer appointing employees across various locations based on business needs. Talented and skilled workers can competently meet project deadlines and work towards achieving organizational objectives, even if they are working remotely. Such remote team members not only help in saving business costs but also help increase overall productivity. Use of […]
Are performance reviews making any difference in your workforce productivity? Is it even effective in optimizing an employee’s performance? Not sure? You’re not alone! Ideally, performance review is a systematic process to evaluate and document performance of an employee. If an appraisal process is designed and implemented carefully, it can help managers and HR to […]
