Question

How could excellent performance be recognised and rewarded?

Explain the value of coaching, with regard to performance improvement. Explain why it is necessary to monitor an employee’s performance during and after they have received coaching.

Answer 1

Excellent performance could be recognised and rewarded by providing them better compensation, performance linked bonus and incentives, benefits like vacations or higher education and training opportunities, long term association with the company. Rewards and recognition can be awarding them with high achiever of the year or high performer of business unit title and offering them certificates which gives the long term utility in the industry. Acknowledgement of efforts in front of colleagues and teams can uplift the employee morale and motivate them to lead with their capabilities and skills.

Rewards and recognition can be granted in alignment with the business goals and strategies, the change drivers the companies want to employ for future, importance and value recognition of these rewards by employees, perceived impact of these rewards and recognition on the behavior and performance of employees.

Coaching helps in performance improvement as it is a focussed and directed effort for better performance, skills and resource support to employees. It enhances their learning, team behavior, association with the company and further coaching their teams becoming the lead for introducing any change or improving performance. It is a ool which can be used to boost employee morale and provide them with specific opportunities to share their experiences and gain from expert insights.

It is necessary to monitor an employee's performance during and after they had received coaching as it improves the effectiveness of the coaching program and emphasizes its importance for business processes and employee. It is a cost and resources investment and it is important to evaluate the success of coaching program by measuring the difference in employee's performance and offering necessary support to practice the learned skills and knowledge. The contribution to the business goals and objectives should be known to take such initiatives in future or make any necessary changes.