In a fiercely competitive business environment, losing valuable talent is more than just a setback; it’s a significant financial hit. A new study by employment law and HR consultancy firm, esphr by WorkNest, found that retaining staff is HR professionals’ most significant challenge for 2024: “Just over one third (36%) highlighted employee retention as their key challenge for the New Year and this was closely followed by recruiting staff members (30%)”.
Companies are on the lookout for strategies to retain their best people, but an often overlooked asset is the annual appraisal. Too often dismissed as a tick-box exercise, the appraisal holds huge potential in the battle to talent. Done right, the appraisal process can serve as a lynchpin in creating an environment where individuals feel valued, motivated, and committed to the collective success of the organisation.
PCA’s innovative approach to appraisals can be your secret weapon in retaining and developing top talent. With delivery tailored to participant level, we offer a variety of practice-based experiential workshops, delivered by expert facilitators, that create opportunities for participants to:
- Learn how to provide balanced, valuable and motivational feedback
- Improve goal-setting abilities that align with individual and firm priorities
- Develop a coaching mindset to empower employees to take ownership
- Gain strategies to address underperformance with a future looking focus
If you’d like to learn more about how we can support your company in leading transparent, motivational and collaborative appraisals, please visit our dedicated Appraisal page, or view a sample workshop agenda.