Throughout this course, you have analyzed your current work environment to identify the acquiring, developing, and training practices. Employees are the biggest asset and contribute to the culture and overall performance of the organization. This project requires you to determine how to leverage the human capital within your organization. Use the research you have complied throughout this course to determine how to appropriately develop and motivate your employees.
Develop a written proposal (1,000-1,250 words), discussing performance indicators, rewards and incentives, and a plan for motivating employees. Your proposal must include the following:
Describe tasks and performance indicators that contribute to the overall employee performance on the job.
How will you identify an employees strengths and skills to leverage their performance?
Develop strategies to improve employee performance. How will you provide employees with rewards and incentives for performance improvement?
How will you integrate rewards and incentives to remain competitive in the marketplace and recruit and retain the employees?
Describe a vision for the overall culture you aspire to develop in your organization, relative to the employees being the biggest asset.
Prepare this assignment according to the guidelines found in the APA Style Guide, located in the Student Success Center.
This assignment uses a rubric. Review the rubric prior to beginning the assignment to become familiar with the expectations for successful completion.
Levering Human Capital
Student’s Name
Institutional Affiliations
Levering Human Capital
The ability of employees to effectively perform job-related tasks is determined by their competencies and skill levels. It is for this reason that organizations usually interview applicants before hiring them in order to identify those with the right skills and knowledge required for them to perform their roles effectively (Peck & Levashina, 2017). Even after hiring candidates with the right skills, an organization should conduct continuous training and development of employees to enhance their performance abilities (Canet-Vélez et al., 2021). The purpose of this assignment is to explain how to leverage the human capital within the organization. The assignment will include a description of the tasks and performance indicators that contribute to the overall employee performance on the job and how to identify an employee’s strengths and skills to leverage their performance. It will also explore improvement strategies, how to integrate rewards and incentives, and a description of the vision for the overall culture in the organization.
Tasks and Performance Indicators that Contribute to the Overall Employee Performance on the Job
Managers usually focus on key areas when conducting employee appraisals. The goal of such appraisals is to establish whether the workers are performing relevant activities that facilitate the realization of the set goals. Depending on the nature of services offered by an organization, there are normally numerous tasks and performance indicators to evaluate during employee appraisal (Pourmohammadi et al., 2018). The specific tasks that employees in the organization are expected to perform include teamwork, communication, customer service, and job-related functions. These tasks are critical for the organization to achieve its mission, vision, and goals.
The key performance indicators that contribute to the overall employee performance on the job are aligned with the tasks named in the paragraph above. The performance indicators related to teamwork include; participation in groups, volunteering in team projects, and sharing ideas with group members. The indicators that the manager evaluates when assessing employees’ communication effectiveness include; the ability to present ideas and provide feedback, the ability to communicate using verbal and non-verbal strategies, and an attitude of being responsive to managers and colleagues (Pourmohammadi et al., 2018). Employees’ effectiveness in customer service will be determined by the employees’ ability to demonstrate professionalism when working with patients and their families, timely provision of services to patients and their families, ability to solve patients’ problems, and ability to address customer complaints. Safety, quality, time management, paying attention to detail are the key performance indicators associated with an employee’s ability to perform job-related functions (Pourmohammadi et al., 2018). Signs of poor performance in these areas will be a sign of red flag that should influence employee training.
Identifying an Employee’s Strengths and Skills to Leverage Their Performance
The organization will conduct employee appraisals in order to identify the specific skills and strengths to focus on in order to leverage their performance. The performance appraisal tool that will be used in the process is 360-degree feedback. Using this tool, the organization will ask subordinates, managers, clients, and the employees’ peers to give their ratings regarding the performance of individual workers (Meghdad et al., 2020). According to Meghdad et al. (2020), 360-degree feedback is an accurate tool for gathering views from others regarding the performance of an employee. It is therefore recommended for evaluating the skill levels of workers and to identify specific areas of improvement. In the current organization, information gathered using 360-degree feedback will guide the identification of employees’ strengths and skills to leverage performance.
Strategies to Improve Employee Performance
A performance review process becomes useful when an organization can use it to identify and implement strategies to improve employee performance. The organization will use training and development strategies, as well as rewards, and incentives to improve employee performance after the appraisal. For instance, using a formal training approach, the organization will be able to teach employees numerous skills that specifically address their weak areas (Walters & Rodriguez, 2017). The other strategy that will be employed by the company is on-the-job training that will be offered to employees through coaching and mentoring as they continue with their daily routines. Besides, role-playing is an important training strategy that will enable employees to master the required skills quickly. The organization will also use conferences to make presentations on diverse topics that employees are required to understand (Scheuch et al., 2021). It will also use rewards and incentives to motivate employees to remain committed to their tasks thereby helping to improve performance (Walters & Rodriguez, 2017). The organization will determine the effectiveness of these strategies by assessing whether there is an improvement in employees’ skills and knowledge at the end of their implementation.
Integrating Rewards and Incentives to Remain Competitive in the Marketplace and Recruit and Retain the Employees
The organization will integrate rewards and incentives to remain competitive in the marketplace. It will employ similar strategies to attract, recruit, and retain employees. Acknowledging, praising, and rewarding good works are key strategies used by employers to keep workers motivated, and engaged with their work. Additionally, facilities that offer incentives to their workers are able to remain competitive in the marketplace than those that do not provide (Liu & Liu, 2022). Rewards and incentives also improve employee satisfaction and enhance retention. By integrating rewards and incentives, the organization will stay competitive in the market and prevent turnover.
A Vision for the Overall Culture for the Organization Relative to the Employees Being the Biggest Asset
Organizational culture has a great influence on the operations of a company. The current facility views employees as important assets that make great contributions to organizational success. Additionally, the organization is determined to create a culture that embraces diversity inclusion and prevents discrimination. It takes into consideration the equal employment opportunity (EEO) requirements by utilizing hiring procedures that prevent discrimination on the basis of gender, race, disability, sex, and nationality (The American Association for Access, Equity, and Diversity, 2022). A culture that embraces diversity and conclusion while also supporting quality and safety will help the organization to achieve its mission, vision, and goals. The organization will conduct constant training and development for both existing and new employees
Conclusion
Leaders of organizations should take actions to leverage human capital in order to equip them with the skills and competencies that they require to perform their roles effectively. By identifying key performance indicators, organizational leaders are able to identify areas for improvement when they conduct performance appraisals. It is advisable that organizations utilize training and development strategies, including rewards and incentives to target employees’ weak areas and improve performance.
References
Canet-Vélez, O., Botigué, T., Lavedán Santamaría, A., Masot, O., Cemeli, T., & Roca. J. (2021). The perception of training and professional development according to nursing students as health workers during COVID-19: A qualitative study. Nurse Education in Practice, 53, 103072. doi: 10.1016/j.nepr.2021.103072.
Liu, W., & Liu, Y. (2022). The impact of incentives on job performance, business cycle, and population health in emerging economies. Frontiers in Public Health, 9, 778101. https://doi.org/10.3389/fpubh.2021.778101
Meghdad, R., Nayereh, R., Zahra, S., Houriye, Z., & Reza, N. (2020). Assessment of the performance of nurses based on the 360-degree model and fuzzy multi-criteria decision-making method (FMCDM) and selecting qualified nurses. Heliyon, 6(1), e03257. https://doi.org/10.1016/j.heliyon.2020.e03257
Peck, J. A., & Levashina, J. (2017). Impression management and interview and job performance ratings: A meta-analysis of research design with tactics in mind. Frontiers in Psychology, 8, 201. https://doi.org/10.3389/fpsyg.2017.00201
Pourmohammadi, K., Hatam, N., Shojaei, P., & Bastani, P. (2018). A comprehensive map of the evidence on the performance evaluation indicators of public hospitals: a scoping study and best fit framework synthesis. Cost Effectiveness and Resource Allocation: C/E, 16, 64. https://doi.org/10.1186/s12962-018-0166-z
Scheuch, I., Peters, N., Lohner, M. S., Muss, C., Aprea, C., & Fürstenau, B. (2021). Resilience training programs in organizational contexts: a scoping review. Frontiers in Psychology, 12, 733036. https://doi.org/10.3389/fpsyg.2021.733036
The American Association for Access, Equity, and Diversity. (2022). History of affirmative action, diversity and inclusion. https://www.aaaed.org/aaaed/About_Affirmative_Action__Diversity_and_Inclusion.asp
Walters, K. & Rodriguez, J. (2017). The importance of training and development in employee performance and evaluation. World Wide Journal of Multidisciplinary Research and Development, 3(10), 2016-2012.