How often do you sit down with your employees and conduct a performance evaluation? This tool is one of the most important factors when determining how well your employees are achieving their established goals not only for their own development but for the development of the Company overall. Reasons for performance planning include:
- Clear understanding of goals
- Enhances communication between employees and management
- Fosters commitment across the organization
- Empowers employees to be part of the performance planning process
Goals should be established at the beginning of each year which usually corresponds to the Company’s fiscal year. This helps prepare budgets for merit increases and or bonuses.
When doing performance planning, think about your Company’s mission statement, goals and values which will help set the foundation for your employee’s goals and expectations. Having definitive plans in place will help with:
- Improvement in current job performance
- Achieve personal growth
- Advance Career development
- Further skills development
Remember, taking the time to sit down with your employees to discuss goals and future development, will only help the Company in the long run achieve its goals and further your success!