According to Deloitte’s Millennial Gen Z Survey 2022, Gen Z and Gen Z have a high level of concern for their quality of life, society and the environment.
Employees are increasingly concerned with quality of life and the influence they exert on company culture. Previously we heard a lot about the “way of such a company to work”, as something written in stone and that required strong adaptation of those who wanted to work in the company. Today, more and more companies have relaxed their “way of being” in favor of a better experience of their teams and have been more people-centered rather than just technologies or processes, which strengthens the construction of their employer brand.
Given the constantly changing scenario of the current market and the high level of personalization of the employee experience, it is crucial that the company knows what are the knowledge and skills of each person, to evaluate the performance of individuals and teams. Cultivating a culture of constant evaluation can be a key factor not only to get to know your teams, but also to understand what each person’s aspirations are. And develop learning plans to gain new skills, sense of belonging, connection to company purposes, understanding and commitment to collective results.
Connected, common-purpose teams can:
- Act with high engagement and productivity of employees, because of appreciation and recognition.
- Have reduced turnover of people, which is a problem that generates costs, loss of knowledge and wear and tear of the organizational culture.
- Have as a competitive differential of the company the retention of qualified professionals, aligned with the values and objectives of the business and prepared to take on new challenges.
For this it is important to know individuals, collectivities, offer opportunities for development and growth of the talents of your company.
How can a Performance and Competency Appraisal support Gen Y and Gen Z talent retention?
Peter Drucker, the father of modern management, said that “what cannot be measured cannot be improved.” With this vision, we understand that it is impossible to build a corporate environment favorable to the development of people without routine evaluations that identify potentialities and allow us to understand the purpose of people and their actions.
Learn about six characteristics of VDX People’s Performance and Competency Assessment that can support the development of your teams and consequent talent retention:
Planned and structured evaluation
It refers to its relationship with the matrix of competencies of the positions and functions for the performance in high performance and with the processes subsequent to it that are based on its data: feedback, PDIs, differentiated remuneration based on results, promotion, succession and necessary dismissals.
After data collection, analyses will be made to identify the potentialities and deficiencies of the performance of employees and implement actions that improve their performance to achieve the company’s goals.
Procedural and continuous evaluation
It needs to be continuous to monitor employee performance. It is in the day to day that the results of the business are realized. Therefore, they cannot be performed only at the end of a management cycle, as this makes adjustments to ensure the expected result unfeasible.
Evaluation of competence, performance and result
Competencies are resources, the knowledge that the employee needs to perform in high performance and deliver the expected results. That’s why it’s important to evaluate them.
Assessment of Hard Skills and Soft Skills
Hard Skills are technical knowledge. Soft Skills are attitudes and socio-emotional skills.
The VDX evaluation verifies the Hard and Soft Skills, jointly or separately, for greater data accuracy, using their different modalities, with emphasis on the 360-degree one.
It is not restricted in the performance performed (past), but provides data and information about the potential of the worker in relation to possible performances in new positions of the future.
VDX People originates in Silicon Valley and our Performance and Competency Appraisal model can turn your company into the employer brand of your dreams to retain the talent you already have or are seeking.
Would you rather lose talent to your competition or schedule a conversation with our consultants and get to know our Platform?