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Managing Compensation and Performance
Effectively manage employee performancePreview the first lesson free — get full access to all 6 lessons.
Intermediate Provider : Stephanie Douglas 6 Lessons · 23m in Arabic, English, Spanish
Course Description
Performance appraisals give employees valuable feedback and a plan for growth and development. Addressing performance gaps and fostering employee growth requires open communication, collaboration, and ongoing support. When your company prioritizes these efforts, you create an environment where employees contribute to individual and company success. Performance appraisals may involve difficult compensation conversations. Managing expectations and building trust helps you have a productive, transparent discussion that addresses the employee’s concerns.
Performance improvement plans are powerful tools for addressing and improving employee underperformance. They hold employees accountable and provide the necessary support and development opportunities to help employees overcome challenges, improve performance, and contribute positively to the company. But how do you know when a performance improvement plan is working, or when one is needed? Performance metrics are the foundation for data-driven decision-making in compensation and performance management. These metrics provide quantitative measures of employee performance, productivity, and contributions to company goals. Incorporating performance analytics and continuous improvement into compensation and performance management processes helps you make stronger decisions. Aligning compensation with performance helps create a culture of continuous learning and growth.
In this Managing Compensation and Performance course, you will learn how to conduct fair and constructive performance appraisals, provide feedback, and identify development opportunities to foster employee growth. You will also learn how to manage difficult compensation conversations and how to use performance improvement plans to address underperformance. By the end of this course, you’ll be able to use performance analytics to make data-driven decisions about your compensation strategies.
What You'll Learn
- Conduct fair and constructive performance appraisals that give employees feedback and a plan for growth and development
- Provide feedback and identify development opportunities to foster employee growth
- Manage difficult compensation conversations by managing expectations and building trust
- Use performance improvement plans to address and improve employee underperformance
- Identify signs of underperformance to determine when a Performance Improvement Plan is needed
- Use performance analytics to make data-driven decisions about compensation strategies
Key Takeaways
- Performance appraisals give employees valuable feedback and a plan for growth and development.
- Addressing performance gaps and fostering employee growth requires open communication, collaboration, and ongoing support.
- Managing expectations and building trust helps you have a productive, transparent discussion during difficult compensation conversations.
- Performance improvement plans hold employees accountable and provide the support and development opportunities needed to overcome challenges and improve performance.
- Performance metrics provide quantitative measures of employee performance and are the foundation for data-driven decision-making in compensation and performance management.
Frequently Asked Questions
What will I learn in this course?
You will learn how to conduct fair and constructive performance appraisals, provide feedback, identify development opportunities, manage difficult compensation conversations, use performance improvement plans to address underperformance, and use performance analytics to make data-driven decisions about compensation strategies.
Who is this course for?
It is designed for those who manage compensation and performance and need to conduct performance appraisals, hold compensation conversations, and address employee underperformance.
How does this course help with underperformance?
It teaches you to identify signs of underperformance and to use performance improvement plans, which hold employees accountable and provide the support and development opportunities needed to improve performance.
What topics are covered in the lessons?
The lessons cover an Introduction, Performance Appraisals and Constructive Feedback, Handling Difficult Compensation Conversations, Using Performance Improvement Plans, Performance Analytics and Continuous Improvement, and a Test Your Knowledge assessment.
What skills will I gain?
You will build skills in Data-Driven Decision Making, Performance Appraisal, and Performance Improvement.
Professional Certifications and Continuing Education Units (CEUs)
HR Certification Institute® (HRCI®)
Recertification Credits: 0.5
Society for Human Resource Management (SHRM®)
Professional Development Credits (PDCs): 0.5
KnowledgeCity is approved by SHRM as a Recertification General Provider to offer SHRM-CP or SHRM-SCP professional development credits (PDCs). By taking the courses approved by SHRM, KnowledgeCity can award SHRM Professional Development Credits (PDCs) for HR knowledge and competency programs related to the SHRM Body of Applied Skills and Knowledge™ (the SHRM BASK™).
