A meritocracy in business is generally used for recruiting, promoting and rewarding the talents of each individual without resorting to sex, class or nationality.
In the organizations which support the meritocracy system, everyone’s views in the workplace are valued and respected. Everyone is free to express an opinion without fear of any consequences. The thought in a meritocratic workplace is that everyone’s views are heard. Involving everyone in the workplace is today seen as one of the top goals for fostering a positive culture.
Meritocratic workplaces operate performance reward systems. Employees are promoted on the basis of effort, skills, abilities, and performance alone.
Meritocracy now refers to organizations where the best people and the ideas win.
How to Build a Meritocracy in Workplace
- Empower your leaders Managers and HRs should figure out who their prospect leaders are, and empower them. Regardless of whether your leader is a people manager or an individual performer, it is important to give them the tools they need to succeed and drive the organization towards its goals.
- Foster passion across the organization. Place the employees in positions that speak to what they are truly excited about. In smartData, the managers find out what motivates the employees and then empower them to set their own direction.
- Get to know your employees better. Employees are keen to work harder when they feel engaged with the organization. In smartData, the management takes a personal interest in listening and engaging with the employees.
- Reward for Innovation. The leading barrier to employee engagement is often a lack of strategy and competing priorities. You can circumvent this when you present the challenge with a structure for participation and a system for rewards and recognition.
Outcomes of Meritocracy
- It develops transparency in performance appraisal, appreciates and rewards the innovation and ideas of employees that are useful for the organization’s growth.
- Meritocracy results to give the employees a place which they deserve and are good at. The entire company will produce higher-quality work, and the skills of the employees will improve rapidly.
- It tends to make employees learn from more skilled co-workers, thereby leading to self-development.
- It tends to make the most capable individuals happier and thus keep them around.
- I• Encourage equal treatment of people of various races, classes and socioeconomic backgrounds
Meritocratic cultures encourage the free flow of ideas which leads to creating an environment of innovation in the organization. Individual passions can be identified in a workplace where there is an open exchange of ideas, and those employees can be assigned to those tasks. The most talented individuals- are then promoted.
Setting up a meritocratic culture doesn’t require a great deal.It is simply a matter of implementing processes and monitoring and evaluating the results. It’s all about analytics for people, which nowadays is much of the HR..