As a small business owner, how often do you review the performance of your employees? When you review your employee’s performance, are you using this time not only to rate their performance but also to coach them on how to improve it? The lifeblood of successfully running a small business is high performing employees. If you’re not continually focused on reviewing and improving your employee’s performance, you most certainly are not optimizing their ability to help you grow your business.
The starting point for reviewing your employee’s performance is to have a documented performance plan which spells out what you want them to do. The more specific you are on what you expect, the easier it is to provide feedback. Including both qualitative and quantitative measurements, such as new account quotas or sales goals, will help you to provide more precise feedback.
When reviewing an employee’s performance, it should be a “two-way” conversation. Have each of your employees do a “self-review” first of how they think they are performing. This will allow you to better prepare for the actual review and leverage the input from your employees.
With hundreds of things on your mind as a small business owner, never lose sight of the fact that your employees are most likely your top asset. Spending time reviewing their performance will help them do a better job, and by doing this, it will help you to better run and grow your small business.