» XEngagement system generates 12% higher profits

XEngagement system generates 12% higher profits

November 13, 2012 by Bob Hill
Posted in: communication, Facility Management, Human Resources, In this week's e-newsletter, Latest News & Views, Leadership, Operations

Most companies claim they engage employees on a regular basis, but very few have a process in place to ensure managers are doing so in an effective manner. 

Enter a new process called “Top Quarterly Engagement” that is set up to guarantee managers are constantly in tune with individual employees’ goals, fears and progress.

According to a Gallup study, companies that implement and follow through on Top Quarterly Engagement report 18% higher productivity and 12% higher profitability.

The system is based on management holding individual meetings with each employee once per quarter. These meetings are used to set (or reset) goals, gauge progress, and either congratulate employees on their performance or adjust based on inadequate progress.

Here’s how the process works:

  • First quarter: This is the time to meet with individual employees, gauge their performance from the previous year, and set new goals for the year ahead.
  • Second quarter: Assess early progress and adjust goals accordingly, developing a solid plan as well as strict follow-up dates and metrics for gauging progress.
  • Third quarter: The beginning of the third quarter represents the mid-year checkpoint. If the employee is on target, maintain a steady course. If the employee is far ahead of annual goals, set the bar slightly higher. If the employee is lagging dangerously below goal, consider what measures need to be taken.
  • Fourth quarter: The beginning of the fourth quarter is a perfect time to meet with individual reps and motivate them to make a final
    push toward end-of-year goals. The end of the fourth quarter is about publicly congratulating those who have met or exceeded their goals, and reevaluating those who failed to reach their goals.

Repeat this process on an annual basis, and monitor big-picture metrics as well, to measure the overall impact of your engagement system on the company as a whole.

Source:Six steps to implementing effective performance management,” by Lisa Gillespie, Employee Benefit News, 9/8/11.


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