There’s more than just hiring and firing when it comes to better managing your talent. You need a way to help engage them, uncover hidden skills and make them truly happy at your company.
Tracking everything you need to do this isn’t always easy, but with the right tool, talent management could easily become your business’s secret to success.
How do you currently keep track of how your employees perform? Is it a quick questionnaire that a manager fills out right before the employee comes in for a performance review? This is all too common and why one study found that 90% of these reviews don’t work at all for an accurate performance overview.
The old style performance review and performance tracking process hasn’t worked for years. In fact, studies as far back as the 1990s showed only 30% of employees felt the reviews helped at all. Flash forward a few decades and only 5% of companies feel their performance review process is effective.
The solution is to use a system that allows managers to input data throughout the entire year. List problems, accomplishments, productivity and anything else. When it comes time for a review, use the data to generate a detailed report to help your talent grow.
Want happier, more engaged employees? When it comes to talent management, this should always be a focus. After all, this leads to higher productivity and less turnover, saving your business money. From fitness studios to wellness centers, the less time you have to spend on training new employees, the more time you have to focus on your customers.
One of the secrets to happier employees is investing in training. Help them to grow as individuals and employees. Using a scheduling tool, you can coordinate training so it doesn’t affect productivity or interfere with important meetings or tasks. The good news is no matter how busy your employees might be, even if they’re juggling dozens of people during a wellness retreat, they have time for microlearning.
Microlearning is more effective than traditional learning, takes far less time and helps you invest more in your employees’ growth.
Need to fill a management position, such as someone to manage all the instructors at your fitness center? You don’t have to hire from outside. Instead, promote from within. Not only does this make employees happier, it’s also easier for you.
By using a tool to track performance, it’s easy to see which employees have what it takes to be an effective leader. You can also keep track of any training to see any hidden skills, strengths/weaknesses and desire to move up.
Talent management isn’t just about performance reviews and training. You also have to pay close attention to any complaints and concerns. However, you shouldn’t just file these away in a drawer somewhere. Instead, use a system that allows you to add complaints and concerns to an employee’s details. In one place, you’re able to see everything about an employee, including performance, any issues, training and more.
When it comes time for reviews or even discipline, you have all your information in one place.
Tracking your employees’ performance, training and concerns helps you to create more effective teams. By placing your employees where they’ll feel more valued and work well with others, you make them happier and more productive. Often times, just listening to what your employees need is the secret to successful talent management.
For instance, if your pilates instructor always preferred cardio, make a note of that and when a position becomes available place her in a cardio position to work with that particular team. Knowing where your employees fit best creates a better workplace for everyone.
At KOI, we love the idea of a workplace where employees and business owners are happier. We also believe business and talent management tools should be available to businesses of all sizes and budgets. We built our all-in-one business management software to help your business with daily tasks while paying less. Consider partnering with KOI today and find out for yourself why KOI is the best and last Business Management Software you’ll ever need.