Business owners and managers need to ensure that they have an adequate Performance Management Process in place to make sure that each employee is clear about what is expected from them in their job, whilst also understanding what they are doing well, to identify what the manager can do to support and coach the employee to work differently or better. Working towards the same company SMART goals ensures success for the business, as well as individuals working within it.
Each person should prepare for their Performance Management Meeting by reviewing their job description and any set objectives. These may be what were agreed during or since the last review meeting and completing a preparation form. Any discussions and comments for the previous year should be written down and discussed; with objectives agreed for the coming six months, using the job description relevant to the role and the company.
All members of the team should be working towards the same company goals whilst also having personal SMART goals to ensure success for the business, as well as individuals working within it.
We know that having a suitable performance review process in place helps to facilitate effective performance management – of your teams and your business. These steps allow for individual SMART objectives to be written and rewarded appropriately if achieved, development identified or corrective action taken.
Six-monthly structured one-to-one performance management meetings (appraisals) are recommended. These allow the individual and company management representative to sit down in a friendly environment and set SMART objectives. Both company and personal goals are agreed for the team member to achieve. Feedback should be sought throughout the year. Plus, everyone is fully aware of initial actions and steps of last resort.
SMART – Specific, Measurable, Accountable, Realistic, Time Based. Failure to manage a team members performance effectively can result in a range of issues for a company from demotivation, loss of sales, poor customer service, Employment Tribunals and high turnover in employees.