Yearly Archives - 2019

Trying to balance all of your money
23 Oct

How to make your money last to the next month and beyond

Financial education is a very scarce resource that only a few of us have been taught. With rising debt default rates and increasing cost of living, it is important now more than ever that we teach each other how to manage our money so we stop living from paycheck-to-pay-check.   By 2022, roughly 40% of the workforce will be millennials meaning that they have only had a few years of having access to disposable income. This means that there is a [...]

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29 Aug

Rewards Management and Why your organisation needs it

The landscape of competition is constantly changing and so are the organisations that compete in this landscape. The rise of ultra-competition means that organisations have to achieve more by motivating employees to produce better results. The Japanese call this constant improvement Kaizen. But the question now comes: How can organisations drive employee adoption of Kaizen? Rewards. That’s how! Incentivising performance From a young age, people have always been incentivised to achieve more. Whether it was accolades and certificates in schools, or [...]

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25 Apr

Challenges Faced in Implementing Performance Management Systems

Performance management systems are processes and tools created to monitor the performance of preset long and short-term goals. The process of implementing such systems is very complex and requires buy-in from all stakeholders. Here is our list of the most common challenges in implantation:   Lack of Sponsorship The implementation of performance management systems requires a strong and influential sponsor. The sponsor will rally the entire organisation towards the same goal. The lack of a significant sponsor normally results in the priority [...]

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05 Apr

Performance Reviews – Is Moderation of Performance Scores Fair to Employees?

Performance reviews are used to generate comprehensive performance scores. Performance score moderation and adjustment is a process in which company managers come together to review and assist in changing performance scores (if necessary), agreed to between Manager and Employee in order to; Ensure that managers across the organisation have evaluated their employees using the same standardized practice. This eliminates unfairness in the performance review process. Eliminate the issue of one manager’s more lenient rating system versus another supervisor’s complex rating system. The [...]

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01 Apr

Getting A Bonus? “Telltale” Signs That You Are Not Getting the Full Benefits of Your Bonus.

Bonus time is always exciting for those who are fortunate enough to get one. People line up to get into the manager’s office to find out if they have secured that all-enticing extra paycheque. Below are some of the “telltale” signs to take note of ensuring you are not being misled during bonus time; You Don’t Know What to Expect Knowledge on whether or not you are getting one and how much you are getting should be upfront and authentic. This is [...]

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05 Mar

Re-thinking employee incentives and rewards

Incentives and rewards have long been used by various organisations as a way to attract and retain talent. Silicon Valley – home of many tech giants has been in the forefront in coming up with unique ways to incentivise and reward talent. Large bonuses, share options and big commissions are still big and widespread. But other forms of incentives and rewards have been introduced to keep up with fast paced changing world. In this post I am going to [...]

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