Performance management is a much-discussed topic. BexerHamstra does not believe in a one-size-fits-all approach.
The conventional approach to performance management uses performance scores, a leading role for managers, and a standardized, annual process consisting of target-setting, appraisals and determining the consequences for people’s salaries. Increasingly, organizations wonder whether this traditional approach still fits their and their employees’ needs. We do not believe in a one-size-fits-all approach. In some situations a unique performance management system is needed while in other situations a more conventional approach is fine, provided that is is well executed. So we must start with the strategic priorities and needs of employees and managers. On that basis we determine which kind of performance management fits the organization best. But designing the organization’s performance policy is only the beginning. Effective performance management absolutely requires the support of the business, as well as proper training, communication and implementation.
We would like to share our latest insights en keep you posted about our organization.
Performance and reward are inseparable elements. BexerHamstra’s consultants can determine the right reward instruments for your organization.
The fact that performance and reward are inseparable may be demonstrated with a few examples:
Designing pay scales and determining salary rises is of critical importance for internal reward relations. For if it takes too long to reach the top of one’s salary scale, for example, this may be perceived as unfair and thus demotivate people.
Variable pay schemes such as bonuses and sales incentives tell employees which are the most important targets for their positions and departments. Provided that it is designed well variable pay may also have the effect of stimulating productivity.
Variable pay schemes that are coupled to organizational performance provide salary cost variability and generate a sense of solidarity within the organization. Such schemes may also be used to show the organization’s strategic priorities and values.
In certain situations appraisal scores may be an effective instrument to provide objectivity in reward differentiation and guarantee consistency between departments and teams. But if they are not determined or used correctly they may result in unfair situations that demotivate people.
Non-financial reward solutions like recognition schemes help employees feel appreciated who show exemplary behaviour or exceptional initiative.
Online gamification platforms are on the rise and may be used to effect behavioural change or to set up playful competition between, for instance, call centres or sales teams.
Bexer believes in a holistic approach to developing performance and reward policies.
We don’t just identify the best design of the remuneration package but also ensure the integrality of your remuneration policy. Every reward instrument must serve a unique purpose and must be integrated seamlessly with the rest of your remuneration package.
When you choose BexerHamstra, you opt for experience and expertise. Our dyed-in-the-wool professionals know their way around reward issues; they know the field like the back of their hand. And we have a very pragmatic mindset. We don’t complicate things unnecessarily but always look for the simplest solution.
We offer an integral perspective on reward, organization and pensions.
Our advice is transparent and relevant, and always focused on improving the business.
We like to keep in touch personally and stand close by our clients. We are flexible and prefer to keep our communication lines short.
We would like to share our latest insights. This will keep you posted on what goes on in this ever-changing work field of ours.