NASSAU, BAHAMAS- A tech company executive has encouraged companies, with the financial ability to do so, to evaluate employee performances and boost staff morale by giving Christmas bonuses to their team this holiday season.
Plato Alpha Design and TriblockHR CEO Duran Humes said conducting reviews of employees’ performances is not only good for keeping track of where improvements are needed, but also important for identifying where team members are overperforming and are deserving of recognition.
“Evaluating performance is critical in any organization that operates on merit, meaning that you get rewarded for doing good work in a company,” Humes said. “Without evaluation of your employees, you won’t get a full picture of how well they are doing and what both you and the employee can do to improve – ultimately making your business better. The incentive of a Christmas bonus is something that many employees look forward to every year.”
But he said the bonus depends on the company’s financial standing and its ability to provide this ‘morale booster’ to employees.
“As soon as the company is financially able to do so, do it,” Humes said. “For highly skilled positions, your competition may give bonuses as an incentive to attract good talent. If you are not, then your organization stands the chance of losing your good staff to the competition. Finding and retaining good people is tough, and encouraging friendly competition is a very good thing that transparent performance bonuses can provide.”
Humes’ company TriblockHR has developed digital solutions for critical human resources needs like payroll, national insurance and work scheduling.
He encourages companies to take a digital approach with conducting performance reviews, as he says it encourages transparency across the board and accuracy.
“By using a performance appraisal software or process you add transparency and trust with staff because clear goals and key performance indicators (KPI’s) can be laid out,” Humes said. “For example, f you score between 90-100% on your appraisal that counts for $500 in bonus, if you are between 50-90% on your appraisal that’s a $250 bonus and so on. Transparency is key to keeping good staff that ultimately keeps happy customers and repeat business. It also allows staff to set their personal goals in line with that of your company to help drive their performance. They can tie the work they are doing to the reward they will get at the end of the year.”
Humes added, “Transparency in performance evaluations fosters trust and accountability within the workplace, leading to improved communication and better alignment of individual and organizational goals. Moreover, a study by the Harvard Business Review revealed that companies with transparent performance evaluation processes experienced a 14% increase in employee engagement and a 10% increase in productivity.”
TriblockHR’s Performance Review Module incorporates artificial intelligence (AI) with managing ratings obtained through performance reviews, ranking team members, giving letter grades and ensuring transparency across multiple levels.
“AI can process enormous amounts of data—something humans simply can’t do at the same speed. This allows for more personalized feedback,” Humes said. “For example, TriblockHR‘sAI capabilities might reveal trends showing that an employee performs best on collaborative projects or excels during high-stress tasks, helping managers offer more tailored advice on how an employee can make the most of their strengths. HR professionals and managers spend countless hours gathering information, scheduling meetings, and filling out forms for performance reviews. Through the use of AI, they have the potential to automate much of this process, allowing HR teams to focus on strategic initiatives rather than paperwork.”
Loading ...
