Thursday, September 30, 2021

Innervalueofemployees

People need to keep learning and growing day by day, and their value should be assessed via competence, performance, potential, business results, and culture fit for the role.

From the past, present to the future, people are always the most critical factor for corporate success. To compete, businesses rely so much on their people to reach their goals and succeed. The true value of an employee is a total of what the employee brings to a business, now and in the future, including many tangible and intangible factors via multi-dimensional lenses (quality, creativity, and productivity) 

Thus, it’s important to assess the performance, influence, and competence of their invaluable people in order to not only keep their business lights on, but more importantly, also explore the collective human potential for leading business growth.

Performance: Performance is based on the employee productivity - the amount of work well done with acceptable quality. At an individual level, it might come down to the annual assessment of how he or she did against the objectives that were set, or if they had ownership of business initiatives. There are both hard and soft factors, leading and lagging indicators in performance evaluation. The analysis takes into account financial and non-financial measures, qualitative and quantitative improvements, past outcomes and ongoing requirements as indications of future performance.

.Measuring/improving employee performance is more about having the visibility and insight into the non-productive time (NPT) and focusing on reducing that or optimizing that. The other concern could be how people are evaluated when their contributions are interdependent with others' contributions. Employee performance assessment shouldn’t be an annual event, but a continuum that involves both self-assessment, feedback-feed-forward management, with the goal to improve future performance.

Influence: Performance is motivational; influence is inspirational; performance is often incremental; but influence could be exponential. A valuable employee is a self-leader who makes a positive influence on business culture; impacting on the performance of others. stays current in their field/profession; freely innovates, creates new efficient ways of working; mentors and coaches others, etc. Influence is a skill to be learned, persuasive communication, exemplary leadership, all held together by a collection of confidence.

Influence is based on such a simple logic: In order for you to add value to people, you need to become more valuable. And in order to become more valuable, you need to grow yourself. In order to find a way to contribute something of value, something should be greater than yourself, something unique to make an impact on our surrounding and global societies; it’s important to make influence via asserting, to present ideas via confidence & persuasion and expertise, to get others’ see your point of view. Knowledge is power, present strong "intellectual persuasiveness" skill, clarify vision, share insight, and wisdom to make a profound influence.

Competence: In the face of “VUCA” digital new normal, business professionals will be more successful when they realize that one of their greatest professional strengths will be their well-rounded competence which need to be developed by the right mix of technical and business acumen, professional attitude, capabilities, skills, flexibility, intelligence, practicality, or pragmatism, etc.The integrity and suitability of professional competency are tested through traits such as attitude, passion, entrepreneurship,, multidimensional intelligence, maturity, and wisdom. etc.

Competencies have been embraced around the world. In specific, there are a variety of professional competencies such as change competency, problem-solving competency, creative competency, or leadership competency. Change is never for its own sake, it is always for something new and advancing. Changeability gives you confidence because you know you are able to positively adapt to any given situation via learning, exploring and making disciplinary movements. Problem-solving is not about fixing the symptom only, but about digging into the root cause, framing the right problem, developing the right mindset and capability to solve the problem effectively. Creative competencies can be built via thinking differently and doing things differently; and can be assessed via delivering something to generate unique value to benefit others or societies.

People need to keep learning and growing day by day, and their value should be assessed via competence, performance, influence, potential, business results, and culture fit for the role. Talent management should be a continuum of practices for identifying, acquiring, developing, deploying, and retaining well-qualified people throughout an organization to maximize employee value and unlock the full business potential.



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