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As a business owner, tracking and keeping on top of company growth is a number one priority, especially in the early years of the business. However, it’s important to focus on how those results come to be as opposed to focusing solely on what the results are.
Many see staff reviews as an outdated method of measurement, but reviewing how your employees are performing is essential to keep on top of business growth and to navigate where your employees are excelling as well as in what areas they need more training and development, primarily as an SME. The key to useful staff reviews is not to make it completely target oriented but to focus on how staff are meeting those targets.
To put this into perspective, I have introduced objectives settings and performance evaluation in a small family-owned manufacturing business in the South of Italy.
Here’s a quick summary of what happens in the business now. Company objectives are defined and tightly linked to the vision, mission, and values of the company. They represent the goals 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 objectives and evaluation (on issues such as ethics, client-centricity, change, effectiveness, teamwork, and initiative).
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 the 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.
Please read the full article on Angel News.
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