Expected and Unexpected Benefits from Performance Management
A healthcare insurer and services provider received a “double bang for the buck” with its Verint Performance Management solution. I’ve written a few blogs about clients who have enjoyed improvements in employee productivity with employee scorecards (Leading Financial Services Firm, Does Kindergarten Belong in Business, Vision Insurer Enhances Employee Engagement), and this healthcare insurer is no different.
They’ve reduced non-production time by seven percent, reduced overall costs while handling increased volumes, and increased employee engagement ratings on their yearly survey. Survey comments attributed the increased job satisfaction to having visibility into their performance metrics and the organization’s performance against goals.
But here’s the unexpected bang for the buck. The organization now has visibility into how well their leaders coach and develop their employees. Verint’s Performance Management solution is integrated with the Coaching solution, so a manager can assign a coaching session to an employee while viewing the employee scorecard. They can then view the employee’s performance trending information and see where coaching occurred—and whether or not their metrics improved after coaching.
However, the manager is not the only one who can see this information. The group director or divisional VPs can also see the data through their performance dashboards. They can view a manager’s team dashboard to see how performance is trending and to see if the coaching events have been impactful. The data identifies managers who need additional training on how to better coach and develop their employees.
So, the insurer gained the expected benefits of improved employee productivity through visibility into performance metrics, as well as improved manager efficiency by having one tool to capture and analyze employee performance data that’s integrated with coaching—reducing the admin time spent by managers on creating reports and documenting performance discussions.
The unexpected benefit, or the double bang for their buck, came from the visibility into manager effectiveness at coaching and employee development, surfacing an opportunity to improve manager skills and, consequently, employee satisfaction and engagement.
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