KPIs and Career Pathways as an absolute MUST in employee retention
Setting up your HR right from the very beginning is one of the best decisions you’ll ever make for your business. For me, no business is ever too small to have a great HR set up. It isn’t as hard as it was before. Programs, systems, specialists and many more are all over the online world to help you get started with it.
Happy HR is one of the systems available to business owners to help them recruit better and make their business grow and thrive by making best practice employee selections.
It is one thing to recruit better, but it is another thing to retain the best employees for your business. And this is one question that many business owners are very keen to understand. Ideally you don’t want to be recruiting too often. You want to keep your wonderful team happy, engaged, busy, and future focused.
Two of the most important things you need to set up in your business to keep employee retention up are setting up KPIs and career pathways for your employees.
Setting up KPIs will help you measure the performance of your employees. This will guide them through their position description in a detailed and measurable manner. Once you have that, you’ll also be able to decipher career pathways for each employee in terms of position, duties, training and development. KPIs are also meant to help managers in performance appraisals.
Career pathways are very important to employees. They want to know that they have an opportunity for growth. Having training plans specifically designed around each position before hiring someone is very important. These training plans can be presented to employees to make them see how they will be moving forward with the company.
How to set up your KPIs
Goals are essential in every business. Three goals that you need to have are:
- Strategic Goals (Growing your company, working less, etc.)
- Operational Goals (Systems and processes needed to run your business)
- Financial Goals (Earning the money needed to get the best staff, the best systems, etc.)
After setting goals for your business, you will then need to develop an operational baseline by putting a range of measurements around your goals. Write down a list of performance indicators and measurement guidelines for each. For things that you don’t know how to measure, you will need to figure one out to eliminate grey areas and disengagement.
In setting up your business goals, employee KPIs and career pathways, don’t burden yourself with doing it all. Take all the help you can get. And with HR specialists and great systems such as Happy HR, these tasks will be more bearable and will be easier to put in place. You just need to make the first step. If you haven’t already, just do it. Do it today.