How the Best Businesses are Managing their Workforce Costs
During economic uncertainty, the difference between businesses that thrive and those that simply survive often comes down to how strategically they manage workforce costs.
Background:
PerformHR was working with a long-standing outsourced HR client who had experienced steady growth. The client required a new Performance Appraisal process as the feedback from the workforce indicated that manager feedback was delayed when delivered through annual performance appraisals. Additionally, the performance appraisal tool required to be shorter to be completed promptly. After collecting such feedback, PerformHR proposed a new approach to Performance Appraisals to the client.
Approach:
PerformHR redesigned and re-deployed the new performance appraisal cycle, focusing on shorter quarterly connects guided by automated forms that utilised more of the HRIS’s capability. Further, to remedy delayed feedback, managers were trained on the new process and why and how to provide immediate feedback to their teams. The entire team was trained on using the new process and its benefits.
Outcome:
After the first year of applying the new cycle and forms, the client had no voluntary cessations and could fully retain their staff. Employees reported feeling at ease doing performance appraisals. They were able to work on their growth goals with more confidence, as more touch points to discuss the progress of the goals have allowed more accountability and actionability.
“PerformHR redesigned and re-deployed the new performance appraisal cycle, focusing on shorter quarterly connects guided by automated forms that utilised more of the HRIS’s capability. ”
