Rewarding Business Performance - Teena Ogbugoh

TEENA OGBUGOH - BUSINESS PROCESSES & PEOPLE TALK WITH TEENA

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Introduction

Effective people management starts with the hiring and selection process. Ensuring you hire the right fit for your organization and then, equipping and managing employees to become a high performing winning team are all essential to organizational success but it is only part of the process.

There is another component which is usually seen as the hard part and it is sometimes avoided but as an employer or business owner, you must understand that sometimes people have to be let go from your organization especially when the impact is negative and non-value adding to the overall productivity of the organization.

Rewarding business performance is not only with promotion, it involves the letting of employees which could sometimes be as a result of non-performance or a layoff due to economic reasons or redundancy. Whatever the reason for parting ways, it is a difficult task for the manager and the employee who’s affected by the action. It is the management of how it is done that is of critical importance for the business owners.

Show Objectives – The Why
The show focus is to look at one of the components of people management, rewarding performance for excellence and for non-performance. A lot of the show will focus on the non-performers and disengage these categories of employees as it should not be avoided by business owners and always delegated to the HR. It is a process that business owners and entrepreneurs must fully own, guided by the principles of no surprises and minimal humiliation. 

Key Issues - Owner Perspective:

1. Business owners lack commitment to the performance management process.
2. Business owners fail to define strategic objectives and core competencies.
3. Taking action too fast on non-performing employees.
4. Business owners are not forthright and do not act with candor.
5. Poor performers hide for too long in performing teams.

What You Need to Know – The What

1. Performance measures should be clearly defined and correspond to KPIs.
2. Change management in system implementation should not be ignored.
3. Performance management must be integrated with strategic planning, human resource management systems and organizational culture. 
4. Harboring non-performers can be detrimental to your business growth.
5. Strong employees can also fail to meet performance expectations.
6. Business owners should know that performance is a function of ability and motivation.

What You Need to Do – The How

1. Use incentives to reward good performance.

• Use recognition, gifts and awards
• Provide professional development opportunities
• Create employee loyalty program
• Create a positive work environment

1. Identify employee developmental needs.
2. Equip employees with learning tools and resources.
3. Have a rigorous performance evaluation system.
4. Diagnose and deal with poor performance.

 
Welcome to the world of entrepreneurship! Envision>>Empower>>Execute

• Previous: Episode 8 – Right players in, now what? – It is not enough to say you have hired the best and right people for the job. How do you manage perceptions to ensure employee satisfaction and creativity abound? 
• Next: Episode 10 – Attitude Impact on Customer and The Business – The workplace attitude is very important as employee and owner behaviour affects business and impacts productivity and performance.

Written by: Teena Ogbugoh
The Founder of Joan Lugards Consulting Services; Executive Director for The John Maxwell Team one of the leading and largest global leadership and personal growth organization in the world; and the convener of Growth Mindset Leader Hub, a mentoring leadership and mindset group.

Teena serves as committee chair of the Youth Development Directorate on the President Advisory of The John Maxwell Team.

Connect to learn more of what Teena does and how she can bring value to you, your team and your organization 

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