Due to the global financial crisis, majority of businesses are facing a slowdown and it is becoming increasingly difficult for the organisations to stay competitive. Organisations, in order to perform a notch above the rest, need to work in an immaculate manner where they can maintain a healthy competitive environment inside their office using their resources optimally and raise their productivity levels to the maximum.
On the human resources front, keeping an organization’s employees motivated in all situations is one of the biggest challenges for today’s business organizations. However a competitive workplace can make an organization more efficient and makes the employees try harder to excel in their work.
The benefits of inducing healthy competition amongst the workforce include increased productivity, motivation, wider focus and better teamwork. This urge to perform well defines the organisation’s competitive edge in the external scenario. Hence the management has to take effective steps in order to keep the employees aligned with the benefits of competition:
Foster Ambition amongst Employees: The employees should be encouraged to be actively involved in their goal setting exercise, by asking them to suggest indicators that will define the success for these goals. This practice establishes immediate accountability on each employee and develops awareness amongst the team regarding what every member is trying to accomplish. This group involvement builds on a healthy competition to take on self-improvement initiatives.
Timely Rewarding Employee Performance: Rewards are the key for keeping up the employee motivation level in every organization, therefore the management should have a transparent performance recognition and appraisal system. The urge of being recognized amongst the peers builds a competitive spirit amongst the employees. The employees feel more valued and motivated when they know that the management keenly recognizes their contribution to the business value.
Providing the right feedback: The employees in an organization need to understand where they stand at a given time and how they are directly responsible for the overall performance of the organization. The management in every organization should provide timely, continuous and constructive feedback on the working style and the key accomplishments of the employee.
Our product Sapience comes in as the perfect partner for Organisations to drive healthy internal competition as well as adds on to the external competitive edge by improving the productivity and quality service delivery. Our unique application performs Smart Effort Analytics, which provides a detailed analysis of the course of action that the employees have taken in a day, which guides the employees to define their performance goals. Moreover it gives the managers an insight to the performance of the employees in terms of fulfilling their set goals. In this process, the managers are able to see the performance of an individual as well as of the team and execute the performance appraisal process transparently. In this manner Sapience adds an edge to how the organisation works on a day-to-day basis and makes it more competitive in the industry. To know more, please contact us at email@example.com