Remember at the beginning of the year I offered advice on Key Performance Indicators? Despite it being mid-year you need to keep those targets in mind and ensure everyone is focussing on them.
Tying in your KPI’s to your business is a sure way that everyone works together for a common cause and that is to help push your business forward. It also ensures that everyone within your business plays their part and in July it is never too late to set up KPI metrics for your business. When setting targets discuss it with your employees first and inform them of how their performance is tied in with the business. It is important that you attain "buy in" from your employees before moving forward. It is equally important to ensure that you communicate with your staff on a regular basis on how the company is performing, the whole point of KPI’s is that they are attainable, so you should be transparent with your employees on how their individual or team performance is benefitting the business.
Finally remember if someone is surpassing targets set then clearly praise should be given, however at the same time you may need to adjust their target parameters. However should an employee be struggling to hit targets set then you will need to examine, discuss the issue with the employee and look at whether further training is needed.
So as we are midway through the year take this valuable opportunity to look at how the KPI’s that you set at the beginning of the year are working for you and your business - if they are not working then adjust accordingly.
If you need any further clarification or assistance with KPI's then contact the Peninsula Advice Service on 0844 892 2772.