Performance Management at Verizon: HR Strategies for Growth and Retention

Verizon as a telecommunication company acknowledges the crucial significance of performance management in achieving its goals.  Effective performance management is vital in an industry that is characterized by rapid technological growth and fierce competition since it ensures that workers are aligned with the organizational objectives. Samuels (2023) stated that Verizon’s performance management process fosters a culture of excellence, innovation, and diversity.  The process propels the company’s commitment to deliver cutting-edge telecommunication services by bridging employee performance with the company’s overreaching goals. Therefore, the company’s commitment to performance management enables it to cultivate a performance-driven organization.

HR Management Strategies

HR management strategies are comprehensive plans and approaches developed and implemented by an organization to effectively manage its human capital. They are designed to align their workforce with the overall goals and objectives so that the right talent is in place to drive success. Chyhryn et al. (2019) noted that in the context of training methods, Verizon has increasingly tailored its training programs to address a given HR goal.  The company has necessitated a performance management system by recognizing the diverse talents and perspectives within its workforce by ensuring all employees are given equal opportunities to excel.   In addition, modern training methods emphasize the need for inclusive content that raises awareness of diversity issues.  Chyhryn et al. (2019) added that the training process within Verizon extends to different departments and it includes policies that promote diversity and inclusion culture. The company has fostered an inclusive culture by embracing diversity and inclusion as its core values by committing to treat all employees equally and equitably. Thus, Verizon ensures that the training process promotes a culture of inclusivity through open communication and diverse hiring practices as a way of driving its organizational success and customer satisfaction.

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 In addition, as a strength, current training methods at Verizon usually include robust measurement and assessment tools. This tool allows HR to track performance outcomes such as a high level of customer satisfaction, continuous innovation and technology leadership, strong financial results, and the creation of a workplace. Through this, HR can identify areas of improvement and evaluate the effectiveness of an inclusive culture and diversity in its customer base. Samuels (2023) noted that measurement and evaluation during training have enabled the customer service department to promptly and effectively resolve customer issues. This is because of the ongoing training of employees to develop their skills so that they can handle evolving customer preferences.  Through training, the customer service department at Verizon continuously improves its efforts to reduce time for customer inquiries and support requests.  Therefore, the current training methods at Verizon focus on achieving performance outcomes that align with its mission and values which can be tracked through measurement and assessment tools.

The common weaknesses in the HR management strategies particularly the current training methods at Verizon are one-time events and resistance to change. Since Verizon is committed to diversity by having a diverse workforce that understands the needs of its diverse customer base there is a need to organize more training programs. Chyhryn et al. (2019) argued that traditional training programs such as seminars are often one-time events that lack continuity making it challenging to make lasting behavioral change. However, the fundamental elements that drive individual or team success within Verizon are employee goals, behavior, and action as they represent the roadmap for effective contribution of employees to achieve desired outcomes. Therefore, to support cultural diversity, the company should implement various policies that ensure that the HR managers organize several diversity training opportunities.

Furthermore, when offering training programs, employees may resist training efforts if they perceive them as mandatory. The resistance can also be experienced if employees have biases that are difficult to overcome throughout the training alone. Samuels in 2023 discussed that to achieve outcomes such as embracing change, during the training process topics such as employee goals, behavior, and actions should be tackled. This is because through training organizational objectives such as financial targets, customer satisfaction, and innovation goals will be identified. Verizon can communicate how each employee’s role contributes to achieving its objectives to make them understand how their efforts during the training matter. Therefore, the organization can foster a result-oriented culture by ensuring that employee goals and behavior align with the organizational objectives.

Impact of Revised HR Management Strategies on Employee Retention

Performance Management

 Organizations seeking to foster a stable and engaged workforce should consider the impact of revised human management strategies on employee retention. Performance management strategies can significantly influence employee’s tenure and satisfaction through constructive feedback and development plans. Verhulst and DeCenzo in 2021 demonstrated that providing employees with constructive feedback helps them see a clear path for their careers within the company which encourages them to remain with the company.  Effective support, supervision, and ongoing performance management result in employee retention by increasing employee engagement and job satisfaction.  Engaging employees through goal alignment, regular feedback, and professional development opportunities enables them to stay with their current employer.  For instance, Verizon can establish an open and clear line of communication between workers and HR managers so that they can seek guidance and share their concerns about performance management. Through this Verizon can conduct regular one-on-one check-in meetings to review individual progress on projects and recognize and celebrate achievements to motivate workers. Therefore, HR managers should conduct continuous performance discussions to address issues that can lead to employee retention.

Additionally, recognizing and rewarding high-performing employees creates a sense of appreciation which will result in a reduction of turnover since their commitment to the organization will be enhanced.  Recognition and reward boost employee morale and enhance employee retention which can be done by tracking employee performance leading to high performance. According to Verhulst and DeCenzo (2021) when integrated effectively through performance management it can contribute to the organization’s continued success since it shows employee’s commitment to ensure they excel in their roles. When employees receive recognition for their contribution it validates their efforts and the HR managers develop a well-designed reward system such as bonuses for their outstanding performance. Therefore, reward and recognition can help HR managers align individual performance with organizational goals since it enhances effective performance management strategies and creates a culture of appreciation.

Recruitment

The proposed impact of recruitment as a revised HR management strategy is that enhanced recruitment strategies attract candidates who align with the culture and values of the organization. This can lead to higher retention since organizations will hire better-fit candidates who align with their mission and values from the start. Verhulst and DeCenzo (2021) illustrated that, for an organization to reduce the likelihood of early turnover HR managers should streamline the recruitment process and ensure transparency in job expectations. This is because the main aim of recruitment is to identify and attract qualified candidates to fill job vacancies. For instance, as a leading telecommunication company, Verizon can employ a comprehensive recruitment strategy to hire qualified professionals in various roles. They can leverage different channels such as online job portals to reach potential candidates. Therefore, the cornerstone of HR management that sets a foundation for attracting new talents and retaining employees is effective recruitment strategies that shape the organization’s success and future growth.

Employee Training

Job satisfaction is enhanced and professional development opportunities are made available through employee training since it is a vital component of HR management strategies that contribute to employee retention. Employees are equipped with skills needed for their role through employee training programs which illustrates the organization’s commitment to the growth of its workforce. Verhulst and DeCenzo (2021) stated that employees are likely to remain engaged and satisfied in their roles when they feel supported through training which offers opportunities for career advancement. Through training, employees will be more confident and competent since they are well-trained which can reduce turnover resulting from dissatisfaction.  For example, Verizon offers technical training programs to support the development and growth of its employees. These programs equip employees with the skills needed to maintain and improve network infrastructure since they focus on the latest telecommunication technologies. Therefore, offering employees training programs reflects on company’s commitment to employee development and maintaining of highly skilled and knowledgeable workforce resulting in low turnover rates.

HR managers utilize training in diversity as a strategy to reduce the risk of turnover in today’s diverse and dynamic workforce. An inclusive workplace culture is fostered during the training making employees from diverse backgrounds feel valued and included making them maintain their jobs at a given company. In the research of Verhulst and DeCenzo in 2021 training in diversity and inclusion was shown to be a powerful tool for retaining workers since it indicated that organizations are embracing diversity and are creating inclusive environments. Employees from diverse backgrounds stay with companies that value and respect their unique perspectives and contributions. For instance, through diversity training, Verizon has enhanced creativity and problem-solving skills among its employees which is a competitive advantage in the marketplace. Therefore, training in diversity and inclusion contributes to a higher retention rate since organizations that invest in such training send a clear message that they value their employees.

Conclusion

HR management strategies include performance management, training, and employee retention which play an important role in shaping the competitive advantage of a company in the market. These strategies are functions of HR and strategic imperatives that impact an organization directly based on its ability to succeed in a competitive landscape.  When performance management is executed effectively it can serve as a bridge that connects individual and team, efforts to the overall organization’s objectives. In this case, performance management helps employees align their contributions with Verizon’s mission as it drives continuous improvement through the utilization of talents. Therefore, this in turn maximizes productivity, innovation, and customer satisfaction as it enhances the organization’s competitive edge.

 In addition, training and development programs equip the workforce with the skills and knowledge required to excel in their roles. A well-trained workforce at Verizon is agile and adaptable due to rapid technological advancement and ever-changing customer demands.  A culture of learning, innovation, and resilience is fostered when an organization invests in employee growth. Employee retention is a cornerstone of competitive advantage since sets the company apart from its competitors. This is because retaining top talents through engagement, recognition, and growth opportunities ensures that it maintains a skilled and motivated workforce.  Therefore, incorporating these HR management strategies creates a holistic approach to talent management an instrument for securing a competitive edge.

 References

Chyhryn, O. Y., Karintseva, O. I., Kozlova, D. D., & Kovaleva, A. V. (2019). HR Management in the Digital Age: the Main Trends Assessment and Stakeholders. Essuir.sumdu.edu.ua. https://essuir.sumdu.edu.ua/handle/123456789/76581

Samuels, R. (2023). Things to know. https://digitalcommons.library.uab.edu/cgi/viewcontent.cgi?article=1107&context=ereporter

Verhulst, S. L., & DeCenzo, D. A. (2021). Fundamentals of Human Resource Management. John Wiley & Sons.