New Era of Performance Standards


GOLDEN BUSINESS IDEA

Gone are the days of performance checklists, hastily reviewed during an employee’s annual review. Companies now use performance standards to design orientation and training plans, research customer service and development needs, and award performance bonuses.

The National Federation of Independent Business ( www.nfib.com ) provides guidelines for creating effective, objective standards. Design your company’s performance evaluations to meet the following criteria:

Identifies a distinguishable line between unacceptable and outstanding performance.

Is challenging but manageable.

Sets specific, measurable and objective guidelines.

Covers only functions controlled by the employee.

Benefits clients or customers.

Uses precise language and terms.

The final key for effective performance standards lies in communication—make sure the terms are settled upon by both the employee and manager.

SPONSORED REPORT

How to make the most of a negotiation

Negotiators are made, not born. In this sponsored report, we cover strategies and tactics to help you head into 2017 ready to take on business deals, salary discussions and more.

VIDEO

Will the Affordable Care Act be repealed?

The results of the 2016 presidential election are likely to have a big impact on federal tax policy in the coming years. Eddie Adkins, CPA, a partner in the Washington National Tax Office at Grant Thornton, discusses what parts of the ACA might survive the repeal of most of the law.

QUIZ

News quiz: Scam email plagues tax professionals—again

Even as the IRS reported on success in reducing tax return identity theft in the 2016 season, the Service also warned tax professionals about yet another email phishing scam. See how much you know about recent news with this short quiz.