Why bother with performance management?

Posted by Glyn Davison 22 January 2015 09:50 AM

As everyone's now settled in to 2015 and most accountants (including us !!) deep into the stresses of self assessment tax returns, here at Harlands we're always focussing on the aspects of the service we provide that help add value to businesses. As everyone returns from the seasonal break, it's the perfect time to look at staff management options.

Why bother with performance management?

It’s one of the biggest buzz terms used by HR departments, but is it really worth the effort to invest in Performance Management? What exactly does it mean, how does it differ from the commonly used Appraisal approach and what benefit does it give to businesses?  

At Harlands Accountants LLP we are strong advocates of Performance Management, so to illustrate our knowledge and experience, we've rounded up the most common questions we are asked.

1. What is performance management?    

Simply put, it’s engaging with your staff to make sure they continue to contribute to the goals of the business. It can be as complex or simple as you need (or want) it to be. 

2. What are the benefits?

  • It reduces staff turnover
  • It engages staff to work towards common goals
  • It can raise productivity
  • Setting goals and outcomes lets you measure the actual rather than perceived performance of your staff   

3. Is it difficult to implement? 

No – small steps are the easiest way to get buy-in from staff. It begins with having conversations, and develops into objectives for the individual, which can be reviewed at set time periods. 

4. What if I meet resistance from staff?    

Performance management is as beneficial for employees as it is for employers and that needs to be key in communication. If you’re facing objections around about objectives, goals, targets or expectations, mediation and discussion can solve most of the issues.

If you'd like more information on how we could help with your performance management issues, give us a call and we can arrange to discuss in more detail.

Topics: Business Owner performance management