You probably have a system in place to review employee performance on a regular basis, but when was your business performance last reviewed? Chances are, it’s been a long time since your business has been reviewed, if ever.
It’s a bit of an odd concept, when you compare it to employee performance. Think about the next level up from employees, the work unit or team. Chances are that there is little in place to formally review the performance of that unit, either. Sure, the supervisor’s performance might be reviewed, but what about the performance of the unit?
Then, take a look at the next level up. Multiple teams organised within a larger group, such as a department. What’s in place at that level? If you’re only dealing with individual performance, you’re missing the bigger picture. It’s possible that you have a spectacular manager in place, but the department performance is still below an acceptable level. Perhaps that part of the business just isn’t viable anymore. How would you know?
The answer is through a business review process. On a regular basis, whether quarterly, annually or otherwise, review the business units against their performance targets. On the surface, it’s a very similar concept to individual performance management. If you’re thinking about doing something like this within your organisation (and you should be), why not contact me to discuss your options?