Human Resources used to be very simple. Hire employees. Train them. Make sure they get paid. Keep track of vacation. Around the time of World War I, the HR function was known as “personnel management.” The function was largely task-focused, centered on training workers and efficiently solving wage and working condition issues.Over time, research consistently showed that non-financial incentives were essential components of work. Managers began to realize that they needed to devote resources to their employees past task training and basic administrative duties.
Today, the modern field of human resource management (or human capital management) involves several functions:
- Compensation and benefits
- Training and Learning
- Career Development
Recall from our previous post the PWC survey. Young professionals were surveyed on their top work motivators. Compensation took second place to career development, and opportunities for learning/training was not far behind. To succeed in the modern market, organizations must give employees the tools and training to make a career.
We believe 360 degree assessments have a place in your HR strategy because they give employees the feedback they need to become your future leaders. Here are some more details on how 360 degree assessments can fit into your current human resource management.
360 degree feedback is an excellent way to make sure leaders both understand themselves and communicate themselves well to others. For example, a manager may uncover hidden information about his/her skill set from the feedback of peers and supervisors.
Guided Professional Learning
Regardless of how well your leaders know themselves, 360 degree assessments can offer direction on where to guide professional learning. In our reports, we offer additional resources to help managers build strengths and manage weaknesses, including recommended books and trainings.
Feedback is useless unless it’s actionable. We go one step further than that by providing both research-backed surveys and offering world-class training resources.
A Separate Platform From Performance Reviews
We firmly believe that opportunities for learning and career advancement should be separate from conversations about pay. Although professional learning, career development and compensation are HR functions, that does not mean financial incentive should be the primary motivator for learning.
Furthermore, if today’s employees are already motivated to learn at work, financial incentives may not be necessary.
Professional learning and career advancement are high priorities for employees today. Organizations that meet these needs will be able to retain talent and prepare future leaders. If you think 360 degree assessments can play a role in helping you meet these goals, contact our team at G360 Talent Development today.