Replacement Cost Approach Advantages and Disadvantages
In the previous article, we have already witnessed what replacement cost theory is and how it can be used to value sporting franchises. We now know the theoretical aspects of this type of valuation. We also know that the replacement cost approach is not used very widely when it comes to the valuation of sports […]
Hofstede Model of Organization Culture
Organization culture refers to the various ideologies, beliefs and practices of an organization which make it different from others. The culture of any workplace decides how employees would behave with each other or with the external parties and also decide their involvement in productive tasks. Hofstede also known as Geert Hofstede proposed that national and […]
Business Process Improvement – Preparation Stage
Business Process Improvement exercise is undertaken by organizations to improve their operational efficiencies, to remove redundant processes, eliminate wastage as well as to adapt to customer expectations and thus augments its operations to meet with the expectations. BPI programs aim to bring about permanent changes to the processes through a sustained and planned implementation program. […]
Stages in Consumer Decision Making Process
An individual who purchases products and services from the market for his/her own personal consumption is called as consumer. To understand the complete process of consumer decision making, let us first go through the following example: Tim went to a nearby retail store to buy a laptop for himself. The store manager showed him all […]
Advertisement Planning on Social Web
Internet age and the social web is redefining marketing. Online marketing as well as online advertising and brand promotions are done differently from the traditional ways. When you consider the traditional way of marketing and building customer loyalty, you will find that the customer’s positive experience of the product or service helps build loyalty. It […]
Employee development is an ongoing process which helps employees to enhance their skills and knowledge to contribute more effectively towards the organization. Remember you are not paid for simply coming to office and leaving on time. You really need to perform exceptionally well to stand apart from the rest. It is essential for employees to upgrade their knowledge with time to survive the changing environment and fierce competition at the workplace.
Employee development process begins from Day one when an individual joins an organization. You really do not have to wait for annual appraisals to implement the employee development plan. Induction and orienting new employees are also effective ways of employee development.
Understand why do you need employee development plan ?
Employee development plans prepare an employee for his current as well as future assignments and make him loyal and dedicated towards the organization.
An employee should feel comfortable even on his/her first day of work. Performance begins on the very first day an employee steps into an organization. Make sure induction programs are meaningful and not just a mere formality.
Orientation programs must acquaint the employee with the policies and procedures, rules and regulations of the organization. Design key responsibility areas of an individual in lines with his educational qualification, background, past experience, specialization and areas of interest. Provide him manuals, brochures or employee handbooks which an individual can take back home for future reference.
Team managers or reporting bosses ideally should spend some quality time with the new employee to orient him to the organization. Do not overload him with unnecessary information. Trust me, he will never come back. Job expectations must be communicated to the employees the very first day itself. Be open for any feedbacks or queries. Ask the new member to have lunch with his fellow workers. Let him be familiar with his team members. After all he has to work with them.
Managers ought to give regular feedbacks to employees. Performance appraisals or promotions should not come as a surprise to employees. Be very transparent with your employees. Give them a clear picture of their current performance and growth chart in the organization.
There are two types of employee development Plans:
Such employee development plans are created to help individuals in their career growth. In such a plan, a team manager sits with his team members and designs growth plans with specific deadlines as to when the development goals can be accomplished. It is essential to give deadlines to employees for them to take trainings and employee development activities seriously. Employees are encouraged to attend training sessions, seminars, conferences to acquire new skills and knowledge.
Managers design a performance improvement plan also called as PIP and create an action plan to help employees improve their performance. Employees are trained not only for their professional development but also for their personal growth. Initiatives are taken to improve behavioral skills, communication skills, interpersonal skills which would help them in the long run.
The most crucial stage is the implementation stage when employee development plans are put in action. Follow ups are crucial. Discuss even the minutest problem which might prevent the successful implementation of employee development plan. Do not leave any query unattended. It would bother you later.
Progress of employees need to be measured to find out how employee development plans are benefitting the employees. Find out whether employee development plans are actually helping employees in their career growth or not? Are you getting appreciated by the management for your extraordinary performance? Do not forget to celebrate your success.
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Current Employment Trends and Their Implications for Business, Society, and Individuals
February 12, 2025
