When you make a promise to a client are you confident your staff can keep it?
Key Performance Indicators (KPIs) track staff performance and are popular management concepts. We highlight how to use KPIs and why they are essential to provide consistent quality service for your customers.
Businesses that implement an ‘effective performance management system deliver (on average) almost three times more profit to the business owners than those who are not yet leveraging the full potential of their team,’ said Business Health.
How well do you leverage that potential?
Everyone likes to know what they are supposed to do and what outcomes they can expect to see.
Figures from the Business Health whitepaper show that those practices where more than half the staff had personal objectives were 76% more profitable than firms where fewer staff had individual KPIs.
KPIs need to be specific, measurable, achievable, realistic, given a time frame and agreed with your staff. Furthermore, it’s important to write them down for future reference and review.
Set expectations about consequences. What will you reward and how? For example, KPIs may be worthy of one level of reward, and exceeding them will attract greater rewards. Be clear about the consequences of poor performance.
Monitor performance, adjust expectations if necessary and consider if your staff need more resources or training.
Keep a ‘no blame’ culture to encourage staff to learn from their mistakes rather than hiding them.
Feedback is a management skill that takes practice to perfect.
Follow these tips on positive and negative feedback:
If you are want to provide rewards and incentives you need to be committed and consistent.
How can you be sure staff will value the rewards you offer? Simply ask what would be of value to them and honour their personal preferences. For example, an afternoon tea celebration and public recognition might be relished by some people but embarrass others.
Use your imagination and staff suggestions to develop a reward program that will motivate without breaking the bank. Whatever you do remember that all the research indicates that the most important reward is your genuine appreciation.
Say ‘thank you’ and give as much attention to your consistently strong performers as you do to managing poor performance. This gratitude practice can make the difference between keeping and losing your best employees.
For truly great results provide guidance and feedback on an ongoing basis.
Feedback and rewards are quickly forgotten by employees so they need to be applied continuously and consistently.
Regular reviews enhance performance that can be tracked to your bottom line.
Industry data from Business Health shows that practices where staff performance reviews were held within six months of the survey date had profit levels 35% higher than those where performance reviews had not been conducted for more than 12 months.
In ‘Good to Great’, Jim Collins says ‘If you need to constantly manage people and their performance, you know you’ve got the wrong people on the bus’. If you suspect this is the case it might be time to review your recruitment and selection processes or seek some external assistance.
"Wow, what can I say…. I found the Harrison reports to provide remarkable insights into your preferred behaviours and how you cope with stress. This is an invaluable tool for any business owner who wishes to maximise the use of their human capital, and I can highly recommend the use of Harrison Assessments reports with Susan's debrief. It simply works! 😊"
- Christopher Cachia, CEO and Principal, CCA Financial Planning
"Coaching with Ben gave me a great opportunity to reflect and explore strategies, tips, and tools to improve ways of working and to work through opportunities & challenges. I really valued the focused discussion on specific areas to support my growth and development. I highly recommend working with Ben."
- Manager, National NFP
"In a challenging role in a new organisation, coaching with Paula was the ideal time to reflect, problem-solve, brainstorm options and arm me with next steps in all areas - from staffing, internal politics and relationships to tackling key initiatives. The sessions were by video and face to face, both equally effective. Using video allowed for easy integration of sessions into my busy workdays without any hassle. Paula’s style of coaching quickly built trust so I felt safe being vulnerable, quickly getting to the heart of a number of issues and propelling me and my performance forward significantly!"
- Executive GM, People and Culture
"We used the Harrison Assessment tools followed by a debrief with Susan, for career development with staff, which then allowed us to work with Susan to create a customised 360 degree review process. Susan has a wealth of knowledge and is able to offer suggestions and solutions for our company. She is always ready to get involved and takes the time to show her clients the capability of Harrison Assessments. "
Jessica Hill - Head of People and Culture, Choice
"Balance at Work are the ideal external partners for us as they completely get what we are trying achieve in the People and Culture space. Their flexibility and responsiveness to our needs has seen the entire 360 approach being a complete success. The online tool and the follow up coaching sessions have been game changers for our business. The buzz in the organisation is outstanding. Love it! Thanks again for being such a great support crew on this key project."
Chris Bulmer - National GM Learning and Development, ISS Australia
"The leadership team at Insurance Advisernet engaged Susan from Balance at Work to run our leadership development survey and learning sessions. Susan was very professional in delivering the team and individual strengths and opportunities for growth. Susan's approach was very "non corporate" in style which was refreshing to see. I can't recommend Balance at Work more highly to lead employee and team development sessions."
Shaun Stanfield - Managing Director, Insurance Advisernet