I strongly believe that company executives in Guyana do not spend enough time on developing our local human capital. For example, most companies do not have a formal employee recognition programme in place, in reality, many take employees for granted because of the high employment rate in Guyana. In actual fact, there is significant cost in retraining new employees that most executives fail to measure.
The competitiveness of an organization or of an entire country is determined by its human capital. Human capital is defined as the knowledge, skills, competencies and attributes embodied in individuals that facilitate the creation of economic, social and personal well-being. Human capital is perhaps the single most vital factor in today’s knowledge-based economies. More than any other single factor, it determines levels of output.
As I speak with other company owners in Guyana, it becomes clear for the most part that many have not developed any such programme within their organizations. It is very important that in the age of competition companies concentrate on their most important capital – human capital.
Commitment to the performance appraisal process is key if a company hopes to develop the skills and competencies of its employees thereby affecting the company’s level of performance output.
There are several keys to effective performance management according to leading human resources management groups:
* Measure what counts. If it’s important, it should be measured.
* Measure the performance of teams. Companies must ensure they are giving proper rewards for team performance.
* Manage performance as a process, not an event. Managers are expected to manage performance all year, not once each year.
* Have a future orientation. Performance management works best when it de-emphasizes past performance and, instead, reinforces the importance of continuous skill improvement.
Employers who use performance management in innovative ways will find themselves consistently providing high quality products and services. This truth applies to both private and public sector employers.
It is important to keep in mind that managing performance actually begins at the hiring stage. If a manager feels that the individual does not possess the basic company’s philosophy (“organizational fit”) whatever that may be, then subsequently it will be impossible to “manage” or measure that person’s performance output if the desire and dedication was not there to begin with.
As a result, what should employers look for in the people they select to represent their company? Some of the key attributes of individuals who perform well in organizations include the following:
Customer Dedication: is committed to meeting/exceeding customer expectations and establishes and maintains strong customer relationships
Results Oriented: isn’t happy until the job is done and goals are met and usually exceeded; motivates self and others to get needed results; pursues results relentlessly
Technically Competent: has technical know-how to get the job done; problem-solves and analyzes complex issues with ease; provides insight and knowledge to facilitate the achievement of the desired results; continuously picks up and integrates new knowledge and ideas; has intellectual inventiveness
Aptitude for Learning: learns new skills and competencies quickly and assimilates learning to fit potential Company/client needs; is open to change and versatile in the midst of changes; enjoys learning and seeks to learn from experience.
Although these attributes may summarize a high performing employee’s resume and performance record, the rest of the story is about character. The disposition observed in “high performing” employees includes:
* enthusiasm for the company and personal role
* a strong desire to contribute
* appreciation for and commitment to their work
* maintenance of high personal standards.
Let’s challenge ourselves if you are a company executive to start developing a performance appraisal programme in your company.
Until next week “Roop”
I strongly believe that company executives in Guyana do not spend enough time on developing our local human capital. For example, most companies do not have a formal employee recognition programme in place, in reality, many take employees for granted because of the high employment rate in Guyana. In actual fact, there is significant cost in retraining new employees that most executives fail to measure.
The competitiveness of an organization or of an entire country is determined by its human capital. Human capital is defined as the knowledge, skills, competencies and attributes embodied in individuals that facilitate the creation of economic, social and personal well-being. Human capital is perhaps the single most vital factor in today’s knowledge-based economies. More than any other single factor, it determines levels of output.
As I speak with other company owners in Guyana, it becomes clear for the most part that many have not developed any such programme within their organizations. It is very important that in the age of competition companies concentrate on their most important capital – human capital.
Commitment to the performance appraisal process is key if a company hopes to develop the skills and competencies of its employees thereby affecting the company’s level of performance output.
There are several keys to effective performance management according to leading human resources management groups:
* Measure what counts. If it’s important, it should be measured.
* Measure the performance of teams. Companies must ensure they are giving proper rewards for team performance.
* Manage performance as a process, not an event. Managers are expected to manage performance all year, not once each year.
* Have a future orientation. Performance management works best when it de-emphasizes past performance and, instead, reinforces the importance of continuous skill improvement.
Employers who use performance management in innovative ways will find themselves consistently providing high quality products and services. This truth applies to both private and public sector employers.
It is important to keep in mind that managing performance actually begins at the hiring stage. If a manager feels that the individual does not possess the basic company’s philosophy (“organizational fit”) whatever that may be, then subsequently it will be impossible to “manage” or measure that person’s performance output if the desire and dedication was not there to begin with.
As a result, what should employers look for in the people they select to represent their company? Some of the key attributes of individuals who perform well in organizations include the following:
Customer Dedication: is committed to meeting/exceeding customer expectations and establishes and maintains strong customer relationships
Results Oriented: isn’t happy until the job is done and goals are met and usually exceeded; motivates self and others to get needed results; pursues results relentlessly
Technically Competent: has technical know-how to get the job done; problem-solves and analyzes complex issues with ease; provides insight and knowledge to facilitate the achievement of the desired results; continuously picks up and integrates new knowledge and ideas; has intellectual inventiveness
Aptitude for Learning: learns new skills and competencies quickly and assimilates learning to fit potential Company/client needs; is open to change and versatile in the midst of changes; enjoys learning and seeks to learn from experience.
Although these attributes may summarize a high performing employee’s resume and performance record, the rest of the story is about character. The disposition observed in “high performing” employees includes:
* enthusiasm for the company and personal role
* a strong desire to contribute
* appreciation for and commitment to their work
* maintenance of high personal standards.
Let’s challenge ourselves if you are a company executive to start developing a performance appraisal programme in your company.
Until next week “Roop”
