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An overwhelming number of companies use annual or semi-annual performance appraisals that focus on ratings and employee weaknesses, without commensurate tools to engage or develop their employees. Furthermore, too many managers believe that compensation is all that matters, and if the pay and benefits are good, people should be motivated. Numerous studies, however, show that once a certain level of compensation is attained, feelings of empowerment, purpose and achievement are what really matter. Employees need to know they are valued, valuable and trusted with the organization’s customers and assets. All too often, however, performance management systems, which are usually tied to compensation, send the opposite signal. 

Stuart Levine

Credit Union Times

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