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The only way to set performance goals to ensure they're met!

by , 02 May 2013
It's news that's sending shock waves around the globe - Sony's chief executive and 40 other top managers will pass up their bonuses this year as a way to apologise for poor performance at its electronics unit. Luckily, you worry about setting a similar example in your business if you've made the move to set SMART performance goals to ensure productivity matches expectations...

 
Sony's CEO Kazuo Hirai is turning down a bonus estimated at several hundred million yen, says The Telegraph.
 
The reason?
 
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.
 
That's why goals must be set in writing, specific and time-framed, explains The Practical Guide to Human Resources Management.
 
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?
 
Discard it as a performance goal, as it has no real value, says the Labour Law for Managers Loose Leaf
 
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.
 
Even better? 
 
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.
 
By making sure there are measureable performance goals, you'll be making performance management that much easier as all you'll need to do is manage performance and measure the deliverables against the desired goals, says Janine Nieuwoudt, editor-in-chief of the Practical Guide to Human Resources Management on FSP Business.

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


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