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.

RESOURCES

Keeping you informed and prepared amid the coronavirus outbreak

We’re gathering the latest news stories along with relevant columns, tips, podcasts, and videos on this page, along with curated items from our archives to help with uncertainty and disruption.

VIDEO

Excel walk-through: Sparklines

Want to liven up your spreadsheets with some color and graphical elements? Kelly L. Williams, CPA, Ph.D., shows how to use Excel sparklines, which illustrate data trends and patterns via small charts that fit in a single Excel cell.