The client, a large retailer, is grappling with high employee turnover and very low motivation. It needs a solution for effective performance management to keep employee churn low and motivation high.
Key challenges included:
- How do I ensure the integrity of performance management system?
- How do I identify individuals for job rotation/leadership programs?
- How do I enable rewards that are motivating?
Our overall approach included the following steps:
- The first step was to scour through the available data to assess the situation.
- Employee demographics
- Assessment data
- Promotion information
- Transfer information
- Tenure data
- Salary and benefits information
- Incentive Compensation
- Identify evaluation pattern
- Identify and profile “Fast track” candidates
- Diversity at each level
- Equity and fairness of the Incentive Compensation (IC) program
A Balanced Scorecard Design Process was implemented with the following Business Objectives to realize the Goal –
- Define Metric and Measurement Rigor
- Establish clear Tolerance Zone
- Allocate appropriate weightage
Below are the improvements achieved through the Solution Approach -
- Increased talent retention
- Increased appropriate employee turnover
- Improved employee morale
- Quantifiable link between employee performance and benefits