HRs role in employee performance

HR‘s Role in Employee Performance bamboohr.com payscale.com HR‘s Role in Employee Performance bamboohr.com Rusty Lindquist Mykkah Herner VP Strategic HR Insights Head of Professional Services BambooHR PayScale payscale.com HR‘s Role in Employee Performance WHY WHAT HOW bamboohr.com Why performance matters Why HR should care about performance What is performance? What are the drivers? (And which belong to HR?) How to leverage the drivers How to know when to push vs pull How to not cross the line How to get started payscale.com HR‘s Role in Employee Performance WHY performance matters bamboohr.com payscale.com HR‘s Role in Employee Performance Done Right (Mind Gym): 40% Higher employee engagement 25% Lower turnover 18% Growth in customer loyalty 15% Boost to productivity bamboohr.com payscale.com HR‘s Role in Employee Performance Done Right (Talent Management LLC): 91% Increase in performance 84% Increased revenue / employee 84% Decreased cost of hire bamboohr.com payscale.com HR‘s Role in Employee Performance In short: performance matters Employees + Strong Performance = Company Success bamboohr.com payscale.com HR‘s Role in Employee Performance “All the assets of an organization, other than people, are inert They are passive resources that require human application to generate value The key to sustaining a profitable company or a healthy economy is the productivity of the workforce.” —The Impact of Strategic Human Resource Management on Organizational Performance bamboohr.com payscale.com HR‘s Role in Employee Performance WHY HR should care …and not just managers bamboohr.com payscale.com HR‘s Role in Employee Performance Doing it wrong 4/5 U.S workers are dissatisfied with how their performance is reviewed 46% Say that annual performance reviews are not an accurate appraisal of an employees work 30% Psychological studies have found that at least 30% of the way performance is currently reviewed actually results in decreasing employee performance bamboohr.com payscale.com HR‘s Role in Employee Performance WHAT is performance? bamboohr.com payscale.com HR‘s Role in Employee Performance What is performance? HR’s definition: bamboohr.com payscale.com HR‘s Role in Employee Performance What is performance? Performance indicators: bamboohr.com payscale.com HR‘s Role in Employee Performance What is performance? What performance isn’t (being busy vs making progress) bamboohr.com payscale.com HR‘s Role in Employee Performance What are the drivers? INTRINSIC VS EXTRINSIC bamboohr.com payscale.com HR‘s Role in Employee Performance What are the drivers? Intrinsic • • • • • • • • • • • Culture Purpose/Mission/Vision Recognition Autonomy Fulfillment Engagement Personal/Professional Development Work-Life Balance Meaningful Work Opportunity to Impact Leadership bamboohr.com Extrinsic • Compensation – – – – – – – • • • Base Pay Incentive Plans Commissions LTI Spot Bonus Other Bonus Non-Cash Incentives Tools Benefits Rewards payscale.com HR‘s Role in Employee Performance When should I use INTRINSIC versus EXTRINSIC bamboohr.com payscale.com HR‘s Role in Employee Performance WHAT drivers belong to HR? Culture Purpose/Mission/Vision Recognition Fulfillment Engagement Personal/Professional Development Work-Life Balance Compensation Benefits Rewards bamboohr.com payscale.com HR‘s Role in Employee Performance How to LEVERAGE DRIVERS bamboohr.com payscale.com HR‘s Role in Employee Performance How to know when to PUSH PULL versus bamboohr.com payscale.com HR‘s Role in Employee Performance How to NOT cross the line bamboohr.com payscale.com HR‘s Role in Employee Performance HOW to get started “What gets measured gets managed.” —Peter Drucker bamboohr.com payscale.com HR‘s Role in Employee Performance Thank you! Follow BambooHR and PayScale on social media: bamboohr.com/blog | payscale.com/compensation-today bamboohr.com payscale.com HR‘s Role in Employee Performance Questions? BambooHR Receive a free job posting on our ATS and full HRIS for one week We will contact everyone within the next few days to set this up PayScale Get the free whitepaper on Pay and Performance Visit http://www.payscale.com/hr/whitepapers bamboohr.com payscale.com ... results in decreasing employee performance bamboohr.com payscale.com HR‘s Role in Employee Performance WHAT is performance? bamboohr.com payscale.com HR‘s Role in Employee Performance What is performance? ... HR’s definition: bamboohr.com payscale.com HR‘s Role in Employee Performance What is performance? Performance indicators: bamboohr.com payscale.com HR‘s Role in Employee Performance What is performance? ... line How to get started payscale.com HR‘s Role in Employee Performance WHY performance matters bamboohr.com payscale.com HR‘s Role in Employee Performance Done Right (Mind Gym): 40% Higher employee