Performance Appraisals, Performance Evaluation

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Job Performance Evaluation Forms

Employee retention is an ongoing concern for most companies today. The business world is very competitive and rival companies are in competition for more than just customers--businesses often fight over employees. If an employee performs well and has a good reputation in the industry, it isn't unheard of for a rival company to try to lure that employee away with promises of large bonuses and other attractive incentives. The retention of good employees often means being able to form a bonus package that's at least equal to or greater than that of the competition.

Some employee retention problems are based in other areas. Employees often leave companies for reasons such as:

Not feeling appreciated
Not feeling challenged
Feeling as if advancement isn't happening fast enough
The need to make more money
New goals in life
Family considerations

Employee Retention Can Hinge on the Right Incentives for the Job

At each job performance evaluation, management should find out if the employee is happy in his or her job. It should be determined if the employee has any frustrations about the job and if anything can be done to alleviate them. This is especially important with highly valued employees who are excelling in their positions. This type of exchange can make the performance evaluation much more fruitful and a manager will have truly useful information on the evaluation form when it's all done.

For assistance in forming competitive employee compensation programs to enhance retention, contact a professional compensation consultant such as Fox Lawson & Associates, a division of Gallagher Benefit Services, Inc. Fox Lawson & Associates can be reached at jfox@foxlawson.com.

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