In the ever-evolving world of business, success hinges on numerous factors, from aligning your team with a common mission to implementing effective performance appraisal processes. The “Great Resignation” has brought to light the importance of employee engagement and the need for businesses to adapt to this new normal. Let’s explore how aligning your team and conducting meaningful performance appraisals can be game-changers for your organization.
Team Alignment in the Great Resignation Era:
The labor market has undergone a significant shift in recent years, with the “Great Resignation” being a notable trend. Employee turnover has been on the rise for the past decade, and it’s a phenomenon that’s here to stay. To thrive in this changing landscape, businesses must prioritize team alignment.
In the past, finding and retaining good employees was a challenge, but today, it’s even more daunting. The quit rate, which measures the share of workers voluntarily leaving their jobs, hit a record high of 3% in September 2021. This trend has left many companies struggling to attract and retain talent, and it’s expected to persist. In August 2021, a survey found that 73% of employers in North America were having difficulty attracting employees—three times the share that said so the previous year.
The Power of Alignment:
Team alignment isn’t just about having a shared mission; it’s about ensuring that every team member understands the company’s goals and how their work contributes to those goals. Aligned workers actively seek ways to help the business, resulting in a more engaged and collaborative team. This alignment is especially crucial when it comes to navigating the challenges posed by the “Great Resignation.”
Alignment means two essential things happening simultaneously within a team:
1. Understanding Company Goals: Team members comprehend the goals and direction of the company.
2. Connecting Work to Goals: Team members understand how their work contributes to those goals.
When these two elements are in sync, employees don’t just perform their job; they actively engage in problem-solving and contributing to the company’s success. Aligned workers are not only better individually but also better collaborators within the team. Effective collaboration relies on a shared vision and collective effort toward a common goal, which is facilitated by alignment.
The Role of Performance Appraisal:
Performance appraisals offer a valuable opportunity to have meaningful conversations with your staff about their job performance and relate this to your firm’s broader goals. Alisdair Barr, from Grad Mentor, outlines a best practice process for performance appraisals, emphasizing that it’s not just about rating staff performance or engaging in a one-way communication process.
Key Aspects of an Effective Performance Appraisal:
Tailoring the Process: An effective performance appraisal should be tailored to each individual based on a well-defined job description that includes a clear job purpose, behavioral competencies, values, and key result areas.
Who Should Conduct It: In most cases, an employee’s direct supervisor or manager should carry out the appraisal, but involving clients, coworkers, subordinates, and self-evaluation can also be valuable.
Frequency: Performance appraisals should occur every six to twelve months to provide ample opportunities for discussion and goal alignment.
Creating a Structured Process: A successful appraisal involves a structured process that includes setting expectations, discussing firm goals, addressing individual performance, and seeking to understand any roadblocks or challenges hindering goal attainment.
Templates for Effective Appraisals:
To facilitate these discussions, templates can be valuable tools. Managers and supervisors can use one template to review training requirements, job purpose, behavioral competencies, and key result areas, and address business-related issues and challenges.
Additionally, there’s a self-assessment template that helps staff members prepare for the appraisal by encouraging self-management and accountability for their performance.
These templates ensure that performance appraisal meetings remain focused and goal-oriented, fostering productive conversations between staff and managers.
The Takeaway: Elevate Engagement Through Alignment and Appraisal:
In today’s dynamic business landscape, team alignment and effective performance appraisals are essential for maintaining employee engagement and retention, especially in the face of the “Great Resignation.” Aligning your team with a shared mission and conducting regular, structured performance appraisals not only improve individual and team performance but also contribute to achieving your firm’s broader business goals.
By embracing these practices, your organization can thrive in the ever-evolving world of work. As the job market continues to evolve, it’s crucial to adapt and prioritize engagement and alignment to not only retain talent but also to ensure that your business continues to move in the right direction. In this new normal, where change is the constant, a cohesive team aligned with a common mission is your greatest asset. And by conducting meaningful performance appraisals, you can ensure that your team remains on track and motivated to contribute to your firm’s success.
In an era marked by the “Great Resignation,” the importance of team alignment and performance appraisal cannot be overstated. These practices empower your employees, enhance collaboration, and align individual efforts with organizational goals, ultimately positioning your business for sustained success.
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