Employee ratings are a challenging and stressful time for everyone involved. For managers who need to evaluate the performance of every team member they have, for HR workers who need to review and analyse the finding of the ratings, and for the employees, who worry what the outcome will be, and if they will be rated fairly.
This is even more stressful now than ever before! Right now inflation is at its highest since the early 80s, meaning companies are having to tighten their spending, but employees are wanting more money to combat their rising living expenses.
Along with this, the great resignation remains an ongoing issue for many organisations, with a great deal of employees remaining on the brink of leaving jobs to seek out an employer who can meet more of their needs. In general people expect more from their employer than ever before, it’s no longer the employer who holds the power, who can set the rules no questions asked.
This all adds up to a high amount of pressure for organisation leads to ensure they are getting ratings, pay, and reward right. With a limited pot for bonuses and wage increases, and many employees weighting their options on whether now is the time for a career move, how organisations move forward with their pay and reward decisions, could have a huge impact long term.
Furthermore, many of the ways organisations currently rate their employees are flawed, leading to incorrect and unfair results, and running the risk of top talent getting over looked, ultimately leaving to go somewhere they are better appreciated.
But what can organisations to do combat all this? How can they find their true top performers, how can they fairly handle pay and reward in today’s turbulent times?
In an attempt to shed some light in these matters, we have decided to dedicate the next three months to delivering content that can help professionals who have to make decisions relating to the rating, pay and reward.
With help from our Innovation Director Nick Gallimore, and Workplace Psychologist Ian McRae we’ll be putting out weekly, educational pieces of content, including blogs, videos and guides, that will contain helpful insight into making fair and informed decisions.
Content will cover subjects such as, the issue with rating on a bell curve, how to manage pay and reward within a continuous performance management model, a guide to identifying and rewarding top talent, the future of workplace incentives and more.
If you’d like to find out more now, you can talk to our team to find out how Clear Review can help.
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