A critical step in addressing people problems inside small businesses – including employee retention and efficiency – is to improve people management. Without effective people management, you are effectively placing your business results and financial freedom in the hands of people who very likely have limited-to-no vested interest in you or your business.
Develop a Performance Management Process that includes, at minimum, these 5 critical features that will ultimately help you recruit and retain the best employees and propel your business to new levels.
1. Job Descriptions
Every team member should have a well-written job description that spells out the principle functions, duties, and expectations of job performance. Review and update job descriptions at regular intervals (1-3 years) to reflect the true and sometime evolutionary scope of job responsibilities. This will foster clarity and confidence and will positively contribute to the overall efficiency of the organization.
2. Personal Objectives
Every team member should have 3-5 personal objectives comprised of: a.) job function objectives that are well aligned with the company’s goals, and b.) personal development objectives that will enhance the team member’s value to the company. Personal objectives should be reviewed with management and updated at regular intervals (quarterly, bi-annually, annually) – see #4 below.
3. Ongoing Training and Personal Development
Nothing in business is more important than developing your “A” players and dealing with your “C” players. Your “A” players need to know that the company has their best interests in mind and that they will have access to the necessary tools to perform their job duties to a high standard. Managers should always work to harvest learnings from internal and external training and should encourage sharing of information and best practices fostering a continuous learning culture.
4. Periodic, Formal Performance Feedback
Critical to the management of individual team member performance are formal team member performance feedback sessions. Performance feedback sessions promote open communication and better working relationships; they provide clarity of expectations, while creating a historical record of job performance.
5. Recognition & Rewards
Every team member wants to be recognized for their achievements and positive contributions to the company. Recognition builds confidence and self-esteem and redirects the focus to core values, vision and mission. It promotes a positive and value-adding culture.
Contact your Coach for more information on the importance of and tactics for job performance management. Your success depends upon it.