Golden handcuffs do not just create problems for the employee, they also create a dilemma for the employer. Having disillusioned, cynical and bitter employees that are ‘waiting for a package’ or ‘too expensive to retrench’ is not exactly beneficial to staff productivity, morale or company performance. However, when you have a workforce in golden handcuffs, that’s what you risk creating. Using employee evaluations on a consistent basis helps them to see their growth so that they can feel good about making progress over time. It also enables them to set new goals, keeping the energy in the office high. It’s one thing to have effective employees doing a great job; it’s better to cultivate that strength so that it grows into something bigger and that benefits the entire department or company. Watching employees grow shows the potential they have for advancement and leadership.
Ask yourself…
1. Do you understand the aspiration of your team members?
2. Are you giving them a new opportunity every quarter?
3. Are you helping them to document their progress every quarter?