Many businesses make use of performance improvement plans to gauge the current performance of their employees and analyse this data to assess how things can be done better.
As HR specialists, we have seen that performance improvement plans can assist businesses in a myriad of ways. By implementing a performance improvement plan, you could experience the following positive results:
Retention of Employees
Hiring new employees is a time-consuming and expensive task, so you want to retain as many of your valued employees as possible. Performance improvement plans help to retain your current employees, as they pick up on ways that employees’ performance and work satisfaction could be improved.
The fact that you are devising a plan, will also show your current employees that you care about their job satisfaction. Once a performance improvement plan has been set in place, it can be used as a reference for when employees face certain struggles.
As your business grows and expands, the skills of your employees may have to grow and expand with it in order to keep up.
You don’t need to hire new employees necessarily, as a performance improvement plan can indicate where further education and training will be most valuable for your current employees.
Heighten Your Standards
A performance improvement plan allows you to take a good hard look at your current standards and assess which standards and expectations should be improved upon. These improved standards should be communicated to employees so that they know the new business benchmarks.
One of the most enticing factors of performance improvement plans (well for employees at least) is the assessment of rewards. Incentives can be a great way in which to improve production, performance and general atmosphere. Performance improvement plans can help assess which rewards will work best for which goals.
Make Use Of Employee Skills
One of the greatest benefits of performance improvement plans are the insight that they give you into your employees’ strengths and weaknesses. After an assessment of the plan, you may want to offer certain employees more responsibilities and provide other employees with further training.
This is a real morale booster and shows your employees that you care about seeing them succeed.
Protection against unfair or unlawful dismissal claims
Have you ever heard the saying “if it wasn’t written down it didn’t happen” Paperwork and process is the key to performance issues. Without a performance management process in place you are hard stretched to terminate without the risk of being found harsh, unjust and unreasonable.
In 2020 with job prospects low and a recession on the horizon after the COVID-19 pandemic there will be a greater and almost certain chance of an application for unfair dismissal occurring. The reality is what does someone have to lose? The current application fee is $73.20. and this fee can be waived in cases of serious financial hardship.
Make sure it is not you losing some money out of your bank account let along the time and effort to defend such a claim. Get the expert support on the process NOW.
We have a comprehensive manual currently under development. We will be covering off the following areas;
- Performance management
- Communicating expectations
- Providing Opportunities to improve
- Disciplining for poor performance
- Performance reviews
- Step by Step guides
- Counselling under performance
- Performance issues arising from an illness or injury
- How to discipline a poorly performing employee
- What to do before dismissal and underperforming employee
If you would like to be on the list to receive one at the introductory new release offer when they are released, kindly email us today. You can also sign up to our newsletter and not only keep up to date with all things related to Employment Relations BUT you will be there when we announce our Performance Management, PIPS and Perfromance Appraisals release. you can contact us for human resource policies and procedures.