One dreaded and often neglected aspects of being a business owner and managing employees, is the annual performance reviews. Although you’re well intentioned and sincere in your desire to perform this exercise in a timely manner, most of us just end up forgetting about them or, because we never get around to preparing the formal review, we just keep putting it off, much to the frustration of the employee.
Is this the right attitude? Absolutely not! But it happens all the time. So why is that? Well, as with many HR related issues, few of us are skilled in the area and not really sure how you’re supposed to conduct a formal annual review. There seems to be as many theories as there are days in a month.
The Solution
After many years of struggling with this issue, I came up with a simple solution. I told the individuals that reported directly to me, that when I’m pleased about their performance or how they handled an issue, I’ll tell them at the time and likewise if I’m displeased. I was no longer going to collect all the information over the course of the year and then dump it all on them at once at the annual performance review.
Once that system was in place, everyone knew where they stood and the annual discussion revolved around the coming year’s expectation and any increase. All very positive stuff for both parties.
Copyright © Greg Weatherdon
If you found this helpful, Tweet, Like or tell a friend.
Sign up above to receive email notification of the latest update to this blog.
Get More LIFE Out of Your Business
You shouldn’t be the hardest working person in your company.
Many small business owners find that even after the struggling start-up years, they’re working too many hours and still managing every aspect of their businesses.
Greg Weatherdon has been there, done that. As an entrepreneur, he learned not only how to get a business to the point of running smoothly, but also how to reduce the number of hours he worked, delegate more responsibility to his employees, and take longer vacations while his business chugged along like a well-oiled machine. And now he is providing the secret to success.
Do you suffer from any of the following?
1. Business ownership isn’t living up to the dream.
2. Endless workdays.
3. You can’t find good people.
4. Profits are less than expected.
5. You can never take a vacation.
You’re not alone. But there is a solution. As Greg demonstrates, with some time and effort, you really can Get More Life Out Of Your Business.
