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How technology is changing the way HR works
Rewarding employees correctly based on how they perform is a tricky area for companies, but if they get it wrong then productivity and motivation levels can nose-dive. Nothing is more demoralizing for people than feeling that their efforts at work are not being adequately recognized, while employers become frustrated if they are not getting the best return possible from their incentive schemes.
Yet often companies only have themselves to blame. The harsh reality is too few organizations effectively link performance and reward. Without this firm connection a business can struggle to attract or retain the best talent and will lose out as confidence returns to the job market over the next few months.
A mismatch of expectation and reality
The Recruitment and Employment Confederation's April 2011 Jobs Outlook revealed that 23 percent of employers wanted to grow their permanent workforce over the next year. More importantly, they will cast their net wider to catch the talent they need, and organizations with a reputation for recognizing and rewarding people correctly will reel in and retain the best.
The Chartered Institute of Personnel and Development's (CIPD) 2010 "Employee Attitudes to Pay" survey emphasizes why this is so crucial. It states that 60 percent of staff in the private sector want and expect to be paid according to how well they perform, yet only 24 percent...