After the class on the Balanced Score Card (BSC), I have wondered is there anyone else that’s aware conventional employee performance metrics needs changes? Homeloan Management Ltd. (HML) seemed to be aware of it.
Firstly, HML abolished their previous methods of evaluating employees based on the time worked in the company and technical expertise. Employees may end up keeping information to themselves rather than sharing it with colleagues to get high individual rankings in technical expertise. On the other hand, new recruits will most likely be discouraged due to their short period of time worked at HML. All those previous metrics lend a hand to “the folly of rewarding A but hoping for B.”
Hereafter, HML must establish a new metric for evaluating employee performance. They are intent in focussing on goal-setting and progressive feedback to evaluate their employees. Employees are empowered to learn and grow by themselves through the assistance of progress reports, goal resolutions and self-evaluation of own performances. This method suggests that the employer truly care about talent and rewards talent.
In conclusion, I have realized that a well-designed employee performance metric, which rewards for intrinsic qualities, can have very positive effects on employee productivity and growth.
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