Building a Better Employee Performance Management System, According to Brandon Frere
PETALUMA, Calif., Sept. 27, 2018 /PRNewswire/ -- Growing companies must build an effective employee performance management system that can expand as needed. This can be a challenge for a small to medium company, particularly one experiencing high growth. According to a recent Forbes article, there are critical elements to creating this system: finding, developing and retaining talent; directing performance; and motivating excellence. Brandon Frere, CEO of Frere Enterprises and other ventures, encourages businesses to critically examine employee performance management systems and consider addressing any areas of need.
"As challenging as it is, businesses must build on their human capital, constructing infrastructure that meets current and future needs," said Frere. "I believe in growing slowly and carefully, and investing in the future, especially when it comes to employees."
An organization without talent is like a plant without sunlight. High-performance employees can produce at four times the rate of their more average peers. To find the best talent, a company must precisely define what skills and talents a job entails, then define sourcing, screening and interview strategies. Once talented candidates have been secured, it is crucial that they are given the opportunity to develop into their full potential by creating individual goals, performance metrics and training programs. Talented workers must be retained, which means being willing to offer higher pay and benefits — especially since the cost of turnover is as high as 150 percent of annual salary.
A business must also be able to direct employee performance and motivate excellence. To be effectively directed, an employee must know what their responsibilities are, how to do them and the impacts of their job on others within the organization. Motivation occurs when employees solve their own problems and create their own goals and demands. A dynamic team is built of individual problem solvers focused on the same goals. It is also key to understand what rewards employees want. Though individuals are unique in their needs, boomers, generation X, millennials and generation Z have general reward expectations that a company should be aware of.
"CEOs often say that their employees are their most important asset, but words only go so far," said Frere. "You really have to show your employees that they are valued, which increases ROI and builds a better future for your company."
About Brandon Frere
Brandon Frere is an entrepreneur and businessman who lives in Sonoma County, California. He has designed and created multiple companies to meet the ever-demanding needs of businesses and consumers alike. His website, www.BrandonFrere.com, is used as a means of communicating many of the lessons, fundamentals and information that he has learned throughout his extensive business and personal endeavors, most recently in advocating on behalf of student loan borrowers nationwide.
As experienced during his own student loan repayment, Mr. Frere found out how difficult it can be to work with federally contracted student loan servicers and the repayment programs designed to help borrowers. Through those efforts, he gained an insider's look into the repayment process and the motivations behind the inflating student loan debt bubble. His knowledge of the often confusing landscape of student loan repayment became a vital theme in his future endeavors, and he now uses those experiences to help guide others through the daunting process of applying for available federal repayment and loan forgiveness programs.
BrandonFrere.com
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