Performance management is defined as the “process of creating a work environment or setting in which people are enabled to perform to the best of their abilities.” Additionally, in order to ensure that the optimal work environment is created, employee performance is measured.
This definition raises the following issues or questions that need to be asked and answered:
How do companies measure performance, what parameters or metrics are used to measure performance, and how is an equitable measurement drawn up across all job roles? In other words, how is a sales assistant’s performance weighed equally against a sale’s executive’s performance, for example?
Performance management: A case study
By way of answering these questions, let’s look at a simple case study. Company A is involved in the design and manufacture of a new product that they hope to launch just before the Festive season this year.
Thus, there is a design team with a team lead, and a sales team, headed by a sales manager. The company outsources the product manufacture and packaging, so the buying department only consists of a single person at this stage. A multi-departmental team dually manages quality control. It includes employees from the design and sales team as well as staff from the manufacturer.
It must be noted that the manufacturing company employee has no relevance to our case study, so we will ignore him/her for now. Also, the company has decided that it manages its performance review on a project basis, and they any one of the software applications that are available on the market to drive its process.
Therefore, let’s start by dividing the project’s performance management process into its key performance areas:
The goal of this project is to design, manufacture, and launch Product X in time for the Festive season. Therefore, both staff and management need to sit down and define measurable and equitable goals to meet the project deadlines.
This point includes the three following elements:
- Clarity on job expectations.
- Discussion about organisational vision & core values
- Discussion on time bound goals
At this juncture, it must be noted that the clearer the job expectations in relation to the organisation’s core values and vision, the great the chance there will be successful outcomes.
Review collection and analysis
When utilised correctly, employee reviews can be a valuable resource for management and human resources as they are an accurate reflection of the organisation’s employee culture and inner workings. Therefore, by organising regular feedback using team performance management software, it is possible to collect valuable data that can be plotted on graphs and charts for senior management to make sense of it.
Consequently, it is vital for management to get employee buy-in; otherwise this process will fail.
Using analytical data gathered to facilitate informed decision-making
Finally, if the performance management process is administered correctly; thereby, gaining employee trust, management will be able to utilise the valuable information collected to make improvements to the work environment and employee culture to ensure business growth and an increased bottom line.
After all, a company exists to make money. And wise top-level management will pay close attention to the fact that happy employees result in a successful organisation.
SEO: 5 Reasons Why SEO is Still Relevant Today
The one constant about the Information Age is that it is fluid and everchanging. There is no consistency and stability over long periods of time.
Therefore, digital media marketing best practices also change regularly. Google, widely known as the world’s foremost search engine, spearheads this fluidity and transformation by continually enhancing their search engine algorithms to provide their users with improved search results to the queries submitted to the Google search engine.
Search Engine Optimisation: A succinct definition
Before we look at reasons why Search Engine Optimisation (SEO) is still relevant in today’s digital age, let’s look at what SEO is defined as:
According to searchengineland.com, SEO is “the process of getting traffic from the “free,” “organic,” “editorial” or “natural” search results on search engines.”
This definition might sound esoteric or “up in the air”. Furthermore, if website traffic is derived from natural search results, then inevitably SEO specialists break the cardinal rule of the definition of natural, or organic, traffic.
There are several branches of SEO like on-page SEO where the search engine optimisation analyst’s main aim is to ensure that the keywords that the brand wants to rank on are contained within the website’s or text. Thereby, increasing the brand’s chance of ranking in the top three to five results on the SERP (search engine results page) and driving organic traffic to the brand’s site.
SEO and its application today
Global statistics show that Google processes about forty thousand search queries every second. This translates into “3.5 billion searches per day and 1.2 trillion searches per year.” Thus, these statistics alone show the need for a professional and knowledgeable SEO to optimise sites so that they rank in the top SERP results.
The salient point in this context is that it is vital for a knowledgeable and expert SEO to optimise websites.
Because of the high volumes of Internet content that is consumed daily, there is serious competition between brands to rank at the top of the SERP. Thus, it stands to reason that a mediocre SEO has the potential to do more harm than good to a brand’s SERP ranking.
Furthermore, what is vital to be cognizant of is the fact that the overall SEO model is still as relevant today as it was at the development of the digital media marketing genre. However, some of the details, based on the latest trends, within this model have changed. A typical example of these changes is the increasing importance and relevance of social media in the online community. Consequently, the primary difference between the original SEO and the current SEO is that brands with smaller marketing budgets can now compete with their global counterparts by using Social Media Marketing tactics.
As noted at the outset of this article, the single most important constant in the digital media marketing world is that there is continuous change and fluidity. Therefore, it’s vital to contract an SEO specialist to ensure that brands remain relevant within the everchanging digital world.
Top Blockchain Applications Making Waves in Commercial Real Estate
The commercial real estate (CRE) industry is comprised of many different types of service providers, including property management, brokerage firms, banks, and other types of lenders. When a CRE transaction takes place, there are various operators involved, requiring extensive sharing of official property documents, and financial information which need to be validated. The requirements for validating all information across all parties slows down the speed of each transaction, which can take weeks and months to complete. Many CRE firms have turned to blockchain to speed up execution times, decrease error and increase transparency in each transaction.
What Is Blockchain?
Blockchain technology is a way to store and transfer information in an encrypted manner by distributing data instead of copying it in a central location. Blockchain does so through a cloud, peer-to-peer network that eliminates the need for a third party, which ultimately reduces transaction fees. A digital ledger is then created and updated with each financial transaction in blocks.
There are plenty of benefits to making transactions and transferring data using blockchain as the technology is not controlled by one central entity, such as a central bank. This means that breaching these blocks is extremely difficult, maintaining the sanctity and transparency of its transactions and data.
Blockchain is the backbone of cryptocurrencies such as Bitcoin, which offer speedy and low-cost ways of sending and receiving money.
One of the most exciting ways blockchain is disrupting the CRE world is in the form of smart contracts. The industry currently relies on an inefficient system of old-school verification of property ownership by conducting research to ensure the property belongs to the party who is selling it.
Blockchain can reduce the speed in which the chain of custody regarding CRE properties takes place as a property’s title would be stored on a public ledger. This would remove the need for another central repository, thus reducing transaction, state, city and legal costs. The same principle would apply for leases that would be recorded via blockchain.
More Transparent Deals
Blockchain can also ensure that real estates assets are more liquid and the terms of the agreement are fully understood by both sides as every piece of data regarding a property would be stored publicly. This includes data surrounding former owners, construction done on the property, past maintenance costs and records regarding former inspections.
Having all this information available would give the investor a more comprehensive idea of the property they are investing in. Blockchain essentially ensures that everyone is on the same page and both sides are fully aware of what they’re getting into as every piece of information is out there for anyone to access.
Digital Paper Trail
Another challenge with the CRE industry is the fact that public records can be outdated, unreliable or not available. Following a property’s paper trail can be time-consuming and frustrating as a lot of this information is lost due to poor organizational skills from industry workers and legacy systems that lose data when updated.
With blockchain, every piece of information on a property would be available in the same place rather than in multiple physical and digital domains. Blockchain would also help to eliminate the type of fraud that sometimes exists in the industry as deeds and titles can be counterfeited easily.
Buying Property With Cryptocurrencies
As previously mentioned, Bitcoin is a cryptocurrency that relies on blockchain to complete financial transactions online in a matter of seconds. Some investors and real estate firms have started adding Bitcoin to the industry, including Ivan Pacheco, who bought a two-bedroom condominium in Florida for $275,000 in Bitcoin.
In the residential space, you can buy a condo on the Lower East Side of Manhattan with Bitcoin. Meanwhile, some apartments in New York City are allowing their tenants to pay for rent using Bitcoin. Cryptocurrencies have been historically volatile and they’ve been on the decline since peaking in December 2017, but some investors believe that the future of real estate will be closely tied with Bitcoin and other digital coins.
Nevertheless, blockchain’s role in the CRE industry is becoming more prevalent each day. The technology’s potential to speed up transactions with smart contracts, its ability to add transparency to a deed or title and the fact that it dramatically decreases the chance for fraud suggest that more investors will flock towards firms that use blockchain for CRE transactions.
This article first appeared on RealAtom.
5 Tips to Help You Implement a Content Marketing Strategy
“High-quality web content that’s useful, usable, and enjoyable is one of the greatest competitive advantages you can create for yourself online.” –
The age-old adage: “Content is King” is more relevant in the global digital media marketing world that it has ever been before. Statistics generated by Newscred.com show the following:
- 71% of consumers are turned away from a brand by direct sales pitches.
- 40% of consumers prefer emails that are content-rich and not promotional.
- 84% of millennials do not trust traditional advertising.
- 2017 statistics show that 615 million mobile devices have installed adblocker technology.
- 2017 statistics show that 84% of people expect brands to create content.
It should be noted at this juncture that we are talking about high-quality, informative, authoritative content. Publishing run-of-the-mill spun content is counterproductive and can harm your brand’s reputation as a leader in its field.
Finally, 2016 studies have shown that circa 75% of brand marketers are increasing their content marketing budgets to allocate a more significant slice of their overall marketing budgets to content strategy and content marketing.
Implementing a content strategy
From the figures mentioned above, we can see that designing and implementing a content marketing strategy is a vital part of a brand’s digital marketing strategy. And it should not be avoided or downgraded to a very low priority. Therefore, here are five tips to help you with your content strategy:
Work with a reputable agency
It is vital to partner with a digital marketing agency that has years of experience writing high-quality, informative content. Additionally, it’s a good idea for this agency to keep up to date with the changes to Google’s ranking search engine algorithms to ensure that their clients’ brands continue to rank up in the top three to five brands on the Search Engine Results Page (SERP).
Identify your brand’s target audience
Let us assume for this article that you own a business that designs and manufactures Merino wool jackets for the athleisure and casual outdoor market. It is vital to describe each persona-type that will be interested in purchasing this jacket. For example, someone that is interested in only wearing high fashion and is not interested in spending time outdoors hiking is probably not going to wear this jacket. Therefore, there will be very little ROI if you market your brand to this persona.
Identify the type of content that will add value to your brand
Different content types suit different brands. It depends both on the brand’s products and the target audience. Once again, if we look at our Merino wool jacket, we can see that the following content types are suitable:
- Instagram and Pinterest posts with high-quality photos showing how the jacket can be worn.
- Long-form articles that are related to the jacket and how to care for the jacket.
- Informative emails that provide links to the long-form articles as well as links to new products.
Consistency is critical
Consistency is a cornerstone of all content marketing strategies. Regular content gets ranked higher on Google (or other search engines) because of its consistency. It does not matter what the time frame of each post is. What matters is that if the content strategy states that a guest blog post will be published three times a week, the brand marketer must stick to the plan. On the other hand, brands that do not post regular content do not keep on “reminding” Google that they are essential, and they add value to their target audience’s lives.
Content builds trust
High-authority, informative content builds trust. For example, let us go back to our Merino wool jackets. It is natural to assume that the brand’s target audience will ask what temperature can the jacket be worn at, whether the jacket is waterproof or not, how to wash the jacket, and how should the jacket be stored when not in use.
The best way to answer these valid questions is, not only to add this information (in bullet point form) to the jacket’s description but to write and publish an informative article on the value of a Merino wool jacket and how to care for it. As a result, the brand’s target audience will see the brand owners as knowledgeable. Additionally, they will assume that the brand cares about its customers.
This article does not attempt to be a comprehensive guide to the mastery of content strategy. For more information, talk to Firecrab Digital Media.
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