According to Deloitte’s 2016 Millennial Survey, 1 in 4 Millennials plan to quit their job in the next year. Only 28 percent of Millennials feel that their current organizations are making “full use” of the skills they currently have to offer. 71 percent of those likely to leave in the next two years are unhappy with how their leadership skills are being developed. Many organizations are struggling to reduce employee turnover. They recognize the importance of remaining competitive in the marketplace, but it’s equally important for them to recognize the potential for employee development planning. Employees want to work for an organization that will upgrade their skills to keep them competitive.
Performance Evaluation Data
My previous article described SDI’s strategy for carefully defining skills for each individual job role. We demonstrated how those skills have four distinct performance levels, which become the matrix and custom roadmap that drives employee development.
After defining each job skill and related performance levels, the employee self-evaluates and his/her supervisor also evaluates performance against specific performance expectations. The data collected from these evaluations allows us to create a clear assessment of current performance, as well as a definite indicator of the behaviors that need to be accomplished to improve performance in the future.
Employee Development Plan
Expectancy gives supervisors the opportunity to define minimum performance expectations for each job role. Employee performance can then be directly compared to performance expectations for that role. Any discrepancies will be automatically identified by Expectancy and worked into the Employee Development Plan.
The Employee Development Plan sets the stage for the employee/supervisor conversation about performance needs, goals and timelines for accomplishing those goals. The Expectancy homepage dashboard summarizes Employee Development Plan activity and next steps, providing the employee with a clear view into their future with a detailed checklist reminding them exactly what it will take to get there.
To complete the 360 degree feedback loop, evaluations can also be created in Expectancy for peers, clients, direct reports and others. Creating a feedback-rich environment will help your organization identify specific job behaviors, create accountability and promote dialogue. Overall, fostering an environment that improves relationships and employee performance.