Payroll can be one of your biggest business expenses, making it critical to measure how wisely that investment is being allocated. Implement a process to conduct annual employee reviews. These assessments can be valuable in two ways: determining your worker’s productivity and managing their expectations. If your employees are holding up their end of the bargain, measurable progress should be made from one year to the next.
When performing an employee review, be certain to gauge whether your employee is fulfilling all the duties set forth in the job description. Likewise, establish attainable goals to which an employee can strive. For example, tie goals to bonus opportunities or the chance to earn merit increases. An informed employee needs a solid idea of what is expected, and how they, as well as your profits, may benefit.