Employee performance management has been mainstay of most organizations, yet is fraught with imprecision and dissatisfaction.
Rather than serving as opportunity for providing direction, growth and alignment, it is more often seen as a necessary evil.
The Aberdeen Group surveyed over 600 individuals: while 95% indicated conducting regular performance reviews, only 11% indicate satisfaction with the process in their organization. There is clearly a disconnect between the concept of performance management and it’s successful execution.
Aberdeen reported that two key performance criteria defined ”Best in Class” Companies (BiC) with regards to performance management:
- Improved bottom line results: BiC companies experience a minimum profitability growth of 10% or move over last 12 months.
- Increased employee retention rates: 94% of BiC companies increased or maintained stable employee retention rates over the last 12 months.
Coming in future postings:
- What are top five (5) pressures driving performance management?
- What are strategic actions necessary to achieve performance management goals?
- What is the connection between productivity, turnover and job match?
Have a great week; back to you soon!
Sincerely,
Dave McCaffrey
PredicitiveAssets
(866) 584-9551 (toll free)
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Biography of Dave McCaffrey:
Before becoming a strategic partner of Profiles International™, Dave McCaffrey built a thirty year career in the fast food, convenience store, vending, and Office Coffee Service segments, ultimately holding senior segment management positions at Oscar Mayer, Kraft Foods, and Starbucks Coffee Company.
Over his career, he developed successful relationships with corporate clients such as ARAMARK, Compass Group, Circle K, 7-Eleven and Standard Coffee Service Company, as well as many regional and local independent businesses in the foodservice industry. Dave also grew and enjoyed productive relationships with brokerage and distributive components, as well as segment specific media and national associations of each unique foodservice segment.
Dave feels his greatest professional (and personal) accomplishment of his successful corporate career was the fact that many of the people that he managed were able to move up to their own managerial responsibility. His own management experience gave him the understanding of the benefit of accurate personnel assessments as quality tools for developing key employee engagement and effectiveness.
Having received his Bachelor of Science degree from the University of Wisconsin, he also earned an Associate Degree in Marketing from the Madison Area Community College.
Actively involved in many volunteer capacities, Dave is a member of several commissions at Immaculate Conception Parish (Elmhurst, IL) In addition, Dave and his wife Rita actively mentor engaged couples participating in the Joliet (IL) Diocese pre-marriage program.
Dave and his wife Rita (Flad), both from Madison WI, have been married for forty+ years (’67), and have lived in Elmhurst, Illinois, for over ten years. They have two daughters, both of whom live and work in the Chicago area.
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