Talent Management - July 2008 - (Page 33)

mance review. Employees are assessed on their behavior, interaction with customers and training they’ve engaged in, among other things, and when a performance issue is realized, Holznagel said the manager will help improve the employee’s behavior. “We take a look at what behaviors they are engaged in and help correct those behaviors, whether that means providing tools, setting them up with a mentor or doing some one-on-one training,” she explained. The performance management process is aligned with the company, and the company’s four core values: learn through challenge and change; unleash the power of the people; show humility, respect and integrity; and have fun while being the best. These values also are integrated into the process, along with an emphasis on customer centricity. “The employment model that has evolved is one that tends to treat employees as a cog in a process and tries to simplify the activities that person is expected to do to the most basic level.” – Michael Boyd, Owner, Customer Solutions “Because we are focused on a growth strategy to improve the organization, it’s critical [that performance management] ties [back to that] and that there is a clear vision, so everyone knows what the company stands for and what they stand for as an individual employee,” Holznagel said. Best Buy’s employee-focused performance management system has been a proven success, as in the past three years the company has decreased employee turnover. Holznagel’s advice to others who struggle with performance management is simple: Listen to employees. “The voice of the employee at all levels is important, and that’s what we’ve really focused on making sure that we have many avenues where employees can share their voice and give their ideas,” she said. “If employees know that they’re being listened to and they are getting bought into what the processes are, it’s easier for them to understand how they’re being managed.” What’s the Point? A well-rounded performance management process gives retailers a competitive advantage. It offers a map, allowing companies to prepare for roadblocks that may be coming, whether it is a tremendous hike in oil prices or slow economic times. Without it, organizations leave everything to chance. “It creates an experience where employees can learn more on the job, achieve higher levels of success and become more marketable in the future,” Tate said. “And the companies get the beneﬁt of higher performance.” “Look at how many mergers, consolidations and store closings there have been,” Goren said. “How much of it was done strategically? How much of it could have been prevented if they knew what was coming down the line and they had a way of dealing with the problem before it hit? [That decision] could be made well through performance management or it could be made with no insight.” http://www.spectrumhr.com http://www.spectrumhr.com

Table of Contents Feed for the Digital Edition of Talent Management - July 2008

Talent Management - July 2008 Editor’s Letter Human Performance Leading Edge Learning Connections Guest Editorial Passive Candidate Recruiting: Evolving with a Changing Workforce How Do They Feel? Sec Regulations and Executive Compensation Performance Management: A Retail Perspective Train the Non-Trainer Management-Go-Round: Developing Future Leaders Netflix Creates Its Own Script for Talent Management Intuit Spotlights Strategic Importance of Global Employee Recognition Make HR a Profit Center: Automate Technology to Gather Tax Credit Data Offshoring and the Impact on Talent Management Advertisers’ Index Editorial Resources Full Potential

Talent Management - July 2008

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