Sony's CEO Kazuo Hirai is turning down a bonus estimated at several hundred million yen, says The Telegraph
Stagnant performance in the electronics sector.
And this isn't likely to be a one-off case for the year.
Because not taking the time to set performance goals at all or not setting them properly is sure to result in poor performance.
Here's why you should set SMART performance goals!
But remember that you must set these performance goals by taking into account the company's strategy, budgets and the reasonableness of the attainment of these objectives.
By making sure that performance goals are SMART, meaning they're specific, measurable, attainable, reasonable and time-framed, you'll be making sure the performance goals are measurable, so you'll be able to manage them.
But what if there are no standards for a key area of performance?
This way, you can clearly define when your employee's done his job well.
Because if he's achieved the agreed standard, you'll know his performance is satisfactory.
Involve your employees when setting these goals through a process of negotiation, communication and getting buy-in from them.
Make performance goals obvious so it's easier to manage performance!
Then, it's a good idea to place these in a highly visible place in the office and revisit them at least once a month so you don't go too far off course before you realise it.
Show that poor performer the door without landing yourself at the CCMA
Click here to find out more about the 'No Excuses!' Guide to Performance Management