Peer feedback – a significant input for effective performance management
HiFives » Performance Management
by HiFives Team
4y ago
Performance management is one of the most important HR processes in modern organizations as it helps in keeping the members of the workforce productive and motivated. There are various factors that contribute to building an effective performance management system. One of these is peer feedback that has tended to be overlooked by organizations in the past or limited only to the senior levels. It can help organizations provide valuable insights to evaluate their employees and drive their performance. In fact, over the past several years, peer data was relevant only for benchmarking employee comp ..read more
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Useful tips for startups looking at an effective performance management process
HiFives » Performance Management
by HiFives Team
4y ago
For most startups, their initial years are both exciting and overwhelming like roller-coaster rides. With a seemingly unending list of tasks, all of which seem to be of great importance for business growth, startups tend to lose focus of their most important asset, namely their employees. After all, it is the people, their efforts and their commitment that ensures the growth and profitability of the venture. However, with the rapidly changing metrics and the frequent addition of new responsibilities and goals, the process of tracking employee performance generally takes a backseat. The lack of ..read more
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5 effective tips to give negative feedback to employees without impacting their motivation levels
HiFives » Performance Management
by HiFives Team
4y ago
Giving feedback is one of the key managerial responsibilities, which when fulfilled in the right manner can help in enhancing employee engagement and motivation levels.  While most managers find it easy to offer positive feedback to the employees, they often feel extremely stressed and quite ill-at-ease while providing negative feedback. It is really not at all surprising as providing negative feedback often makes managers feel like wading into extremely delicate territory. They are not sure about the impact of such corrective feedback on the employees and their motivation.  In fact, most mana ..read more
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Key Points to keep in mind while developing a successful employee rewards program
HiFives » Performance Management
by HiFives Team
4y ago
Key Points to keep in mind while developing a successful employee rewards program Making employees aware of how much they are appreciated is essential for organizations seeking to improve their overall bottom line. In this context, employee rewards programs can prove highly motivational and help organizations derive the benefits of higher employee engagement, productivity, and retention. However, in order to ensure the success of such programs, they need to be designed in an intelligent manner and implemented with great care. It is also important for organizations to ensure that these programs ..read more
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Useful tips for setting up an effective Employee Rewards Program
HiFives » Performance Management
by HiFives Team
4y ago
Most business organizations today are aware of the importance of rewarding their employees to enhance their sense of satisfaction and loyalty. In addition to being a good HR practice, it helps in boosting the morale of employees and makes good business sense. However, when it comes to actually create an effective employee rewards program, most organizations are unaware of where to begin. Hence, they often resort to throwing money at employees in the name of rewards, which is neither feasible nor effective in providing the aforementioned results. So, it becomes essential for companies to intell ..read more
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How to Reward and Recognize Customer Service Employees?
HiFives » Performance Management
by HiFives Team
4y ago
How to Reward and Recognize Customer Service Employees? Great customer experience is one of the key requirements for ensuring the success and growth of any business organization. In fact, it is not uncommon for individuals to shift their loyalties to an organization promising to offer better customer experience.   In order to create such an experience, it is important for companies to train and prepare their employees to be customer-centric. However, such training and preparation form only one aspect of ensuring customer satisfaction and happiness. A customer service organization be it a call ..read more
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Low Budget Employee Recognition and Reward Ideas to Enhance Employee Motivation
HiFives » Performance Management
by HiFives Team
4y ago
Low Budget Employee Recognition and Reward Ideas to Enhance Employee Motivation Seeking recognition and appreciation for their work is basic human nature and nowhere is this behavioral trait more evident than in professional work environments. In fact, employee recognition and rewards have emerged as the key aspects of creating a highly engaged workforce committed towards business growth. The process is aimed at acknowledging the efforts, hard work and workplace behavior of employees that contribute towards the success of an organization and fulfillment of its objectives. However, most small a ..read more
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The Magic of Employee Recognition
HiFives » Performance Management
by HiFives Team
4y ago
Recognition is an ancient tradition in all communities, dating thousands of years. Recognition at the workplace too goes back in history. Typically top driven, it represents the appreciation of performance or achievement of an individual or a group of individuals, generally by a designated leader within the organization. Employee recognition may or may not come with monetary benefits but more often than not, it comes with high visibility within the organization. Employee recognition has come a long way and has evolved into a more structured form of appreciation within the organization; not jus ..read more
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How important is continuous communication towards the success of an Employee Rewards and Recognition Program?
HiFives » Performance Management
by HiFives Team
4y ago
 Employee rewards and recognition programs are typically launched with a great deal of fanfare within the organization. There is usually a prelaunch communication, a launch communication and post-launch follow-up communication by the HR and the leadership team. The communication generally harps on the importance of creating a culture of appreciation and recognition within the organization. It attempts to build up excitement among the employees most often by linking it to monetary benefits. However, as one might expect the enthusiasm dies down over time and the communication becomes a trickle ..read more
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Rewarding underperformers for one-off achievements – does it make sense?
HiFives » Performance Management
by HiFives Team
4y ago
This is one dilemma that many line managers and HR Partners face; whether to reward an underperformer for a significant achievement, as part of the employee rewards and recognition program. In most cases, the Rewards and Recognition Policies might not state anything explicitly, leaving it to the better judgment of the concerned managers. An important point to note here is that consistent underperformers might rarely be around in the system since the performance assessment process would take care of that. Hence, underperformance might be a temporary phase or it could be just relative. And more ..read more
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