As the working environment changes, so must the way we manage our employees. Today, employees are coached rather than directed, receive just-in-time feedback rather than annual feedback, and concentrate on strengths instead of weaknesses. Traditional organizations are led in a more autocratic style, but as we find ourselves in a world where democratic leadership is taking over, employees on the bottom of the chain are finding they have just as much value as leaders at the top of the chain.
Taking on top talent and retaining high performing employees is critical for an organization. Not only is it time consuming to take on new employees, but it’s also costly. Research shows that the costs of hiring and onboarding can amount to 1/2- 2/3 of the salary of a senior employee. The holistic approach makes the onboarding process more efficient, aligning employees with current organizational goals, and increasing overall employee engagement. Using these tools effectively will make your organization’s performance management a strategic differentiator for attracting and retaining top talent.
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