Are You Actively Managing the Performance of Your Company?

Many leaders and business owners recognize the need to manage employee performance but don’t necessarily have robust performance management frameworks in place to manage overall business health. This results in a number of challenges. How will you know whether you are on track to meet your annual and long-term goals? Do you have mechanisms in place for early warning signs that something is not going according to plan? Additionally, many business owners focus on revenues, but there is a myriad of other drivers that you can monitor so that you can proactively adjust your course of action as conditions change. Therefore, performance management of your employees and vendors is a good start, but you also need to make sure you are managing the performance of your overall business.

Are You Retaining Your Top Performers?

All organizations on some level understand that employees are their most valuable resource, though they may not always act accordingly. In a small business, the importance of hiring and retaining the right people is even greater. As a business owner, you may be an expert in your own area, but when growing a business, you can’t be a jack of all trades. You need to fire yourself from all those odd jobs you are trying to do and focus on the things only you can achieve – driving the purpose and direction of your business. That means that you need to be very careful as to whom you hire, what you offer your employees to entice them to stay, and how you develop their skills and capabilities so that they can grow alongside you and your organization.