Staff retention issues? Look at your performance management system
It is not news that employee retention is one of the top challenges faced by HR managers in Asia.
Most HR practitioners experiencing staff retention issues instinctively blame salary, benefits and work environment as the most likely causes.
This is understandable but when it comes to keeping talent in the company, ignoring staff career development programmes, and the performance management systems that underpin them, is a common mistake.
“Of course money is important but lack of career advancement is a very common reason why employees leave their companies,” said Aditi Sharma Kalra, regional editor of Human Resources magazine.
“If they don’t see clear career progression at their current company, they will move to a company that provides one.”
Career advancement is a two-way street – the company has to provide a clear path to promotion but the employee has to perform well and hit his or her goals.
This is where many companies get into trouble – their performance management systems are either non-existent or simply inadequate and ineffective.
As a result, companies and their employees do not know how well individual staff are performing, career advancement is not discussed and, hence people leave.
Got a problem with staff retention? Your performance management system is probably the root cause.
So what makes a robust performance management system?
Recent research found that most companies’ performance management systems lack sophistication or are woefully out of date, while a frighteningly large number of companies, over 17%, do not have a performance management system at all.
This is why the HR Academy is conducting an intensive, 2-day training workshop on performance management systems.
Entitled “Utilising Metrics and Analytics for Optimal Performance Management”, the workshop will be led by highly respected HR veteran from the UK with 20 years’ experience, Jonathan Lavender.
The course will be held in Hong Kong, Kuala Lumpur and Singapore and will equip senior HR professionals with everything they need to devise and implement a simple yet cutting-edge performance management system in their organisations.
“After speaking with many HR practitioners, we found that most companies were experiencing problems which could all be traced back to poor performance management practices,” said Kenneth Neo, regional producer at Human Resources magazine.
“This course is essential for companies that either do not have a performance management system or suspect that their performance management system could do with an upgrade.”
The HR Academy runs courses in an interactive workshop format, blending real-life case studies and practical examples with the expert knowledge and experience of external trainers to ensure maximum value is delivered.
Delegates will undergo intense learning and interaction with their trainer and fellow course participants, and will take away global best practices, fresh ideas and customised solutions for implementation back in their organisations.
As with all HR Academy workshops, this session will be capped at 20 attendees.
HR professionals interested in learning more about the HR Academy can visit the website www.hracademy.asia or call the following members of the Human Resources magazine team:
– Hong Kong: Che Fantonial, Project Executive, firstname.lastname@example.org, +65 6423 0329
– Malaysia: Andrew Subra, Project Executive, email@example.com, +65 6423 0329
– Singapore: Hemalatha Siranjeevi, Project Executive, firstname.lastname@example.org, +65 6423 0329
ALSO READ: Introducing Asia’s very own HR Academy
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