Why Performance Management isimportant in a small business?
2The CruxSmallbusinessGetting newclientsManagingcash flowsMakingemployeecountMaintainingcustomersatisfactionsIn a large company, there may bebuffer resources but that is not anoption for smaller companies – insuch an operation, managers shouldlook to optimize every asset,including peopleSmall businesses need to get themost out of their people bymotivating and engaging with them
Systematic performancemanagementEmployee moralePerformance management activityCopyright 2013 | Saigun TechnologiesPvt. Ltd.3Does initiating a performance management activity mean moreoverheads?Automation and more defined measurement metrics can actually drivebetter business results and small companies cannot afford to ignore anykind of performance enhancement initiatives.
Performance management benefitsIndividualgoalsBusinessobjectivesPerformancemanagementsolutionCopyright 2013 | Saigun TechnologiesPvt. Ltd.4By setting individual goals, employees can work out how to prioritize workand which jobs require more focusBy indicating how each job is connected to the overall business strategy,employees become more purposeful and are motivated to work harder
Performance management benefitsProvide frequent and constructive feedbackSmaller companies understand howgoals need to be achieved and whetheran employee needs further coaching orsupport to achieve their goalsHelp employees feel valued and know whatis expectedCopyright 2013 | Saigun TechnologiesPvt. Ltd.5As small businesses typically lack promotion opportunities,offering training can encourage performance levels and overallcompetency of the entire organization