Would you like to create a high-performance culture at your organization? Then it’s time for you to start thinking about implementing a system for tracking and rewarding outstanding employee contributions. Regardless of the size of your company, this goal-setting process is made easier by actively collaborating with a trusted PEO. Here’s how one can help you better manage your talent:
How a PEO Can Help You Manage Employee Performance
Working with a PEO grants you access to productivity and performance resources that can significantly improve your day-to-day employee management.
Rewards and recognition programs
If providing incentives that resonate with your team seems like a challenge, don’t worry: your PEO has you covered. Together, you can design a recognition program that rewards your best employees with attractive perks like memberships to trade publications, travel expenses for attending industry events, and equipment upgrades for working remotely. For loyal employees rejoining the workforce following parental or medical leave, try to add on benefits such as childcare support and supplemental insurance coverage.
Base salaries and compensation tools
Taking good care of your employees also entails investing in developing a solid compensation structure, which should include everything you’ll provide your top team members in exchange for their great work — bonuses, stocks, extended PTO and 401K. These premium benefits can be strategically tiered by your PEO administrator in accordance with performance and seniority to reward outstanding contributions.
Professional development resources
One of the key secrets for boosting employee retention and engagement rates is to provide them with resources to advance their professional knowledge, competence, and effectiveness. Why? Because everyone dreads the thought of career stagnation. Work with your PEO to offer your star employees meaningful opportunities to further themselves, and to earn and maintain their professional credentials.
Coaching for employees at senior levels
At the heart of every business success story, are mentors who push their teams to achieve greatness. It’s important to work with your PEO to build a company culture where curiosity and continuous learning are encouraged. This process begins with adequately coaching your senior team members, thus turning them into better evangelists for the advancements of your business objectives and company values.
