Company A and Company B both have great leaders.
But Company A is seeing increased results, while Company B is stagnating.
What’s the difference?
Company A is trying new things.
Company A’s leaders take risks and aren’t afraid to fail, because they know growth comes from moving forward and testing new approaches.
What approaches are we talking about?
While we could be talking about any business approach, this week we’re honing in on approaches to maximum employee performance.
In the past years, these are the peak performance trends are making the biggest splash:
These check-in meetings with employees are short and casual. They happen more frequently than a standard annual review. Some companies do them every month, while others feel quarterly check-ins are more sustainable.
The mini-feedback sessions revolve around goals previously set by employee and manager, and allow for the employee to share any difficulties or successes.
More and more companies are utilising metrics and analytics to track performance outcomes. Clear goals are defined and evaluated along the way. When used effectively, people analytics aren’t so much about evaluation, but about development and growth of the employee’s performance.
A study referenced in a recent Forbes article shared that, “83% of HR said that ’employee experience’ is either important or very important to their organisation’s success” .
In an effort to enhance employee experience, companies are placing a greater focus on things like training, professional development, social events, work spaces, and providing other non-monetary rewards. When employees enjoy where they work, they’re more likely to work hard and put in extra energy.
Though individual performance and autonomy is important, many companies are realising the value of structuring work with and through teams.
A recent Forbes article by Dan Schawbel lists many reasons for this change, including “the rise of millennial and gen Z workers who grew up playing team sports and have the same expectations at the office and the fact that organisations are trying to better align to customers so they must be agile due to market volatility”.
So, if you feel it advantageous, consider rearranging a few projects to be more team-based.
Competitive salary and benefits have remained an important incentive to workers of all ages around the world. Beyond pay, though, work flexibility has recently been found to be the next important benefit to employees.
Flexibility comes in various forms, including the option to work from home (even if occasionally), half-days on summer Fridays, ability to roll over vacation days, and options to work four x ten hour days instead of five x eight hour days.
It’s likely that you won’t be able to implement all of the above approaches, so just start with one.
Choose something that you think will make a difference for your employees—and then try it out.
At the very least, you’ll learn something new.
Investing in your employees’ development
Above all, one of the most powerful things you can do as a leader is to invest in your employees’ professional development.
If you have questions on this topic or any others, feel free to reach me by email or set up a free one-on-one consultation session, or drop me a comment below.
Thanks for sharing!