How to align employees to achieve success in the new economy

How can employers close the gaps?
While it’s traditional to address proficiency shortfalls through employee training, mentoring and other educational programs, increased accountability is the only way to incite and sustain permanent change. Reformat the existing performance management system and employee goal-setting process to include the attainment of new skills and competencies. There is a tremendous opportunity for technology solutions to assist in this process. Don’t overlook the role of line managers in facilitating the change management process. Require supervisors to model new behaviors and actively support the evolutionary process. Although executives often hesitate to increase investments in training and development in an uncertain economy, the challenging environment provides an ideal opportunity to retool your work force. Research shows that employees consider opportunities for professional development to be an important component of EVP.
How can employers motivate employees by aligning rewards with business outcomes?
Since employees consider monetary and non-monetary rewards when assessing the return for their contributions, create a complete inventory of rewards and gauge their effectiveness by mapping each component to the goals in the business plan. This will not only expose gaps and troublesome misalignment but also allow employers to ascertain whether the rewards are capable of inciting goal-oriented behaviors and activities. For example, employers may want to offer bonuses for improving customer service or reducing R&D costs if these goals are critical to achieving vital business outcomes. Be sure to involve employees in the rewards discussion, because our research shows that employees are capable of making prudent choices when they are armed with the facts and employers are often surprised to find that low-cost benefits like flexible schedules or telecommuting do a better job of motivating and retaining employees than higher-cost perks.
How can executives support realignment?
Closing gaps and bolstering engagement requires an inclusive and holistic communications program that starts at the top of the organization. Executives must provide a road map so employees can align their efforts with the company’s goals. The leadership must clearly articulate the new expectations and the need for fresh behaviors, so employees don’t revert to old habits as the economy improves. Finally, be on the lookout for change, so you can recognize new habits and refill employees’ emotional buckets. Remember, a misaligned talent management strategy can be temporarily camouflaged by a rebounding economy and, by the time it surfaces, it’s often too late to prevent the departure of valuable resources.
Rob Rogers is a Principal with Findley Davies, Inc. Reach him at [email protected] or (216) 875-1900.