Several factors play an important role in ensuring the growth and success of a business organization. The level of commitment and dedication of its employees is perhaps the most important of these factors. That is why companies need to have a well-defined policy for monitoring and assessing the performance of the various members of the workforce. Investing in employee assessment is also essential due to the below-discussed key reasons.
For Deciding Appropriate Employee Appraisals Assessing the performance of individual members of the workforce makes it easier for organizations to decide the most appropriate appraisal to be offered to them. This helps in ensuring that high performing employees feel valued and motivated to keep up their good performance. It also helps in creating a performance-based and growth-oriented workplace culture that promotes healthy competition between coworkers. Understanding Employee Strengths And Weaknesses Performance assessment helps organizations to gain a better understanding of the strengths and weaknesses of their employees. This makes the process of delegating tasks much easier and streamline and also helps in building teams that can consistently accomplish the goals assigned to them. Being aware of what each employee is capable of doing and what skills they lack also ensures more effective talent mapping within the organizations, which, in turn, impacts business growth and success. Helps In Establishing Up Clear And Realistic Objectives Regularly assessing the performance of employees is also essential to help organizations set clear and achievable business objectives. Based on the competence and capabilities of their employees, organizations can realistically plan their future growth prospects. They can also work towards improving the performance of the members of their workforce by organizing skill enhancement programs and training sessions. Assessing the performance of the employees after these sessions enable organizations to realign their goals for better growth as per the enhanced performance efficiency of their employees. Building An In-House Talent Pool One of the key reasons that justify the time and effort invested by organizations in performance assessment is that it helps with the development of an in-house talent pool. Performance assessment can be done at various levels and leadership assessment often forms an integral part of the process. This makes it easier for orgaizations to identify those members of the workforce, most suitable for taking up leadership roles in the future. Companies can then focus on enhancing the skills and competence of such employees to prepare them for such key positions. Moreover, performance assessment also helps organizations to gain a better understanding of any talent gaps within the workforce and take the necessary measures to rectify the same.
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Cornerstone International Group carries out a critical analysis of employee and Leadership Assessment because we know how important these two factors are for a business. We examine the candidate’s organizational fit to see if the person is perfect for the job or not. As an executive search firm with decades of experience and knowledge the assessments help us to determine which candidate is perfect for which client. We take over psychometric tests to find out the personality, and behavior of a candidate and then only move forward with the candidate. If required we conduct an overall assessment as well. Employee Assessment.
Why Cornerstone:
Cornerstone’s ultimate aim is client satisfaction and for that we make sure that the clients get the best candidate. We make an assessment of leadership so that the client gets the assurance of who they are hiring. The leadership quality is very important in today’s time and so to assess the quality is important for us. We make sure the leading quality remains consistent after assessment as well. Our assessment team for leadership creates personalized approaches for clients. We give personal attention to each leader to understand their strengths, values, weaknesses and let them know about the areas where they need to work on and develop. Organizations today understand the significance of assessing the performance and competence of their employees from time to time. Different companies use different tools and methods for carrying out employee assessments across various employment levels. As with other employees, assessing professionals working in leadership roles is of utmost importance. Discussed below are the key benefits of doing a regular assessment of these highly placed members of the workforce.
Enhances The Authenticity Of Decision Making Assessing employees in leadership roles helps organizations to analyze the strengths and weaknesses of top executives in a thorough and objective manner. This helps them to gain a better understanding of the current skills and future potential of these executives and hence makes it easier for companies to make decisions about offering them more challenging roles. Identify Gaps In Talent Pool Leadership assessment is a great way for companies to identify the gaps in their internal talent pool. Companies can use this information to establish the identity of the employees capable of taking up leadership roles in the future. This also helps the organizations to develop a strong framework for succession planning and organize the necessary training and skill enhancement sessions for the deserving candidates. It Ensures Better Acceptance Of Decisions By assessing the leadership potential of top executives, companies can maximize the acceptance of any promotional decisions by a majority of their workforce. This is essential to keep the employees motivated and eliminate any sense of distrust they might feel towards the management for favoring an unworthy candidate. Moreover, choosing the most competent leaders based on the assessment of their skills helps in ensuring better growth and profitability for the organization in the long run. Talent mapping is a strategic service used by companies to plan for short, medium, and long term talent acquisition. It is generally used to make sure that the recruitment process is carried out keeping the needs of the company in mind leading to a number of strategic talent acquisitions over a prolonged period of time.
Here is a list of benefits a company reaps from the mapping of their talent: 1. Inclusive Employee Assessment Talent mapping is a process of assessing the current and future effectiveness of the company in terms of human resources. The assessment involves the entire organization covering every level and function of the company. This presents a perfect opportunity to assess your employees and plan your talent acquisition strategy ahead of time thus leaving little room for panic hiring, one of the root causes of bad hires and companies operations going haywire in the long run. Having an inclusive assessment also presents an opportunity for employee engagement and thus helps you with leadership assessment and take necessary measures before a small challenge converts into a bigger problem for the company. 2. Identify Potential Leavers Another benefit of reviewing employee performance is that it can help uncover early signs of someone leaving the organization. Decreasing productivity, frequent leave of absence and so on can be the signs that the employee might be considering moving on to a new company. Once you gain enough clarity on this, you can plan your retention as well as hiring strategy better. 3. Opportunities For Internal Moves Talent mapping helps the organization to record the capabilities, experience and potential of each employee thus giving the leaders an opportunity to identify future leaders of the company within the company. This opens an opportunity of growth for many employees at the same time provides the company enough time to groom the potential employees for their future job roles. 4. Reducing The Time To Hire Rather than being caught out when a vacancy arises, talent mapping is a valuable method to ensure that the organisations gain a competitive people advantage in advance. Hiring a retained search firm can help you with creating a talent pipeline and can help you make several strategic hires over a prolonged period without having to go for panic hiring as and when the need arises. "Recognizing your employee's efforts is like opening a new world of joy that no one has ever unlocked."
Employee Assessment - Why Is It Important? Companies, where employees are given regular feedback, have a 14.9% lesser turnover as compared to the companies with no effective feedback mechanism in place. Leadership assessment along with the team assessment is an important component of any company’s HR activity. Constructive feedback has the potential to improve the overall performance of the employees as it gives them a chance to improve as they go in their job and leaves room for fixing their wrongs before the upcoming appraisal cycle Talent Mapping. It is very simple to understand. Imagine yourself being an employee who has been doing all the right things but every year when it comes to ratings, he doesn’t get what he thought he would. This breeds frustration which leads to poor performance and ultimately termination or resignation. So what was the employee doing wrong? The answer is nothing. He doesn’t know what he needs to do to improve his performance and so helpless, he is trying everything he could. Constructive feedback can help give such employees direction and thus instills a feeling of loyalty in them too. Why Assessment Is Important? Performance Management Employee assessment is a proactive approach to manage the performance of your employees. It also helps you to identify the gap in the skills of your employees and gives you time to plan a well-planned employee training programs. Assessments are a great way to equip the employees with actionable inputs so they can work in tandem with their managers and create a growth culture in the company. A regular assessment program improves the overall performance of the employees and helps them have a clear picture of their future career growth. Long-Term Growth Plans Of The Organization Assessment plays an important role in the whole planning process for the long-term growth of an organization. The idea is to assess your resources before you start to plan your growth. This will give you a realistic picture and will help you set achievable goals for your company. In other words, it is an exercise in identifying whether the organization has the required resources in order to collectively grow to the next level thus making this whole process less about the individual’s performance and more about how it can help the individual to perform better. Help Strengthen Team Bonds This helps align team performance in sync with the organizational goals ensuring that every team is working towards achieving a common goal. The individual role is therefore assessed in the light of a wider team and constructive ways are explored to meet the benchmark for team effectiveness. Resolve Grievances In Teal Time No assessment is one way. Having a feedback mechanism opens a constructive channel of communication where the employee’s grievances can be heard and addressed in a timely manner before it festers into a bigger problem. Speedy conflict resolution boosts employee morale, performance, and productivity. Delinking From Compensation Traditionally, monetary rewards were considered as the only parameter for better performance but that is changing rapidly. Today, employees prioritize rewards over professional development. In an increasingly fast-paced work environment, the organization needs to stay relevant for its employees too otherwise they would look for an outside opportunity and leave the organization. Do you think your organization can benefit from increased productivity and high efficiency? What kind of question is that? The answer is an obvious YES. A good way to achieve your organizational goals is to hire OD Consultants in India.
OD or organizational development is the practice of planned, systemic change in the attitude, beliefs, and values of employees encouraging them to have long-term goals to ensure personal growth at the same time become a crucial factor in organizational success. The purpose of OD consultants is to help the organization to respond effectively and adapt to industry/market changes and technological advances. Here is a list of 5 key benefits of hiring ODs for your company: Continuous Improvement Any organization can’t risk being obsolete as today’s dynamic market does not wait for you to adapt to the changes. In no time, you will see your competition capturing your market in front of your eyes. Studies have shown that the companies that engage in OD continually improve their business and offerings. By creating a continuous cycle of improvement, the OD helps the organizations in planning, implementing, evaluating and thus improving the overall strategies further. Increased Communication Another advantage to OD is an increase in feedback, communication, and interaction that helps align all employees to shared company values and long-term goals. In the long run, this helps increase understanding of the need for change thus keeping you ahead in the game. Employee Assessment And Development With an increased focus on communication, employees can be encouraged to be a part of decision making thus bringing about the desired changes in the organization for good. The assessment reports help both parties equally. It opens the improvement channels for the employees to work on. It also helps in talent mapping encouraging the organization to regularly enhance employee’s skills in order to stay relevant in the evolving market requirements. Product & Service Enhancement Another major benefit of OD is constant innovation without which no organization can achieve growth and success in the long run. Innovation helps in product and service enhancement giving the necessary edge to the company over its competitors. Innovation can be achieved through employee development which can be achieved through rewards and by boosting motivation and morale. Creating an environment of innovation help enhance employee engagement leading to increased productivity and efficiency of the company. Increased Profit Any company that grows with its employees is bound to increase its profit numbers and that is exactly what OD consultants can help you achieve. All the above advantages culminate in the ultimate advantage which is the sole purpose of any business that is the PROFIT. Through raised innovation and productivity, the overall efficiency of employees is improved and profits are increased. Costs are also curbed by creating a continuous learning environment for the employees thus minimizing the overall turnover rate and absenteeism. |
AuthorCornerstone India is a leading player in CXO Search, Board Search for Independent Directors and Leadership Advisory services. Archives
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