Why staff reviews are essential to growing your business

Why staff reviews are essential to growing your business

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Many see staff reviews as an outdated method of measurement, but they are essential to keep on top of business growth and see where your employees are excelling.

The key to useful staff reviews is not to make it entirely target oriented but to focus on how staff are meeting those targets.

As an example, company objectives should be defined and tightly linked to the vision, mission, and values of the company. They determine the objectives of each staff member, from the production line and admin staff, through to strategists and even the CEO.

The company values also define other personal goals and evaluation (on issues such as ethics, client-centricity, change, effectiveness, teamwork, and initiative).

It’s not just “what” – it’s also “how”

However, success isn’t determined solely by whether everyone hits their objectives. It’s about striking the right balance between performance and growth culture.

Meeting goals accounts for 55% of someone’s final evaluation. However, the company allocates remaining 45% to how they went about it.

So, for instance, a ruthless achiever who doesn’t care about their colleagues does poorly within the company. Goals sometimes relate to personal performance and completing specific business activities, but they can also extend more widely and adapt over time.

For example; staff members ‘own’ objectives can serve as a reference point for a period; many goals feed into agendas and meetings, so they are continuously discussed; management and staff may split objectives into two, drop them, or add new ones as priorities change.

Trust your employees

In my experience, it’s about trusting employees: this is the approach that delivers results. It’s not without pain:

 

Please read the full article on Real Business.

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