Are you aware of who the high and low performers are in your company? The job market is tighter than ever, making retaining talent as important as attracting it. However, recent research indicates that only 8% of companies have an objective understanding of their employee performance. This lack of understanding can cost companies dearly, with costs ranging up to €75,000 per underperforming employee. There are also indirect costs. For example, a poorly performing employee negatively impacts the team, company culture and customer relations. After all, an employee is an organization’s calling card.
Also, not having insight into who you and high performers are also makes it very difficult to map the engagement of your high performers. This makes it difficult to prevent them from leaving your organization. And as it turns out, this cost is much higher. Research indicates that a departing high performer carries as much as between 120% and 150% of annual salary. It is therefore crucial to have a clear picture of who the low, medium and high performers are. Our e-guide offers an in-depth look at why many current methods fail and introduces an innovative solution: Learned Performance Management. Download the eguide now for free and chart employee performance.