The Culture of Symbiosis – Evaluating Performance
We’re all aware that we’re currently living in a recession, and, on average, we’re being a lot more cautious about how we spend our money – personally or professionally. While some retail reports suggest that the food and transport spend is up, everything else seems to remain largely flat, and, in some cases, spending is actually down. Sadly, the projections for this trend are set to continue for some time, according to the country’s latest economic reports.
As a result of this projected economic downturn people are now faced with having to make careful decisions about their choice of medical cover. There are indications that, when it comes to medical cover and other day-to-day living expenses, most households are scaling down significantly, fewer people are going away on holiday and more people are making do with far less!
And the ripple effect doesn’t end there – suddenly business owners are discussing business practices with each other and trying to make sense of what is a very challenging economic climate; discussion around business expenses is rife and everyone I speak to is holding back on adding unnecessary costs into their already tight budgets.
This is why, when it comes to annual staff increases, it’s critical that expectations are very clearly managed and discussed as the year draws to a close.
Firstly, a clear connection needs to be made between business performance and staff increases. While it’s understandable that staff expect an inflationary increase in remuneration, many of my clients have reported that they’re unable to raise staff salaries without making other cuts.
Secondly, your practice’s annual performance needs to be carefully evaluated. Most of the practices I work with have all noticed a decline in performance this year – and significant effort goes into maintaining businesses to sustain current expenses. As a result, many practices are now opting not to replace staff members who leave, and unfortunately we’re all aware of practices that have even had to close their doors due to the challenging economic climate.
Considering this now is the time to face the facts and correct any misconceptions that it’s ‘business as usual’. Times are indeed tough – and each employee needs to understand that they need to play their part in actively helping to contribute to the continuing success of your practice.
The key to helping your staff align business success with staff increases lies in clearly and concisely defining their specific roles and responsibilities. Their performance (how well they execute tasks) and productivity (how effectively they execute their task against time) also needs to be established against a set of criteria and each staff member needs to understand what is regarded as poor, average or excellent in terms of their performance and productivity.
When it comes to defining this set of criteria, be as specific and detailed as possible; discuss your expectations with your staff and describe how the practice’s optimal performance involves them functioning optimally in their specific roles.
By creating a clear link between your staff’s expected level of productivity and performance, in relation to your practice’s predetermined goals and objectives, you’ll then be in a much better position to more accurately evaluate employees, providing meaningful, deserved rewards based on individual levels of commitment and contribution while creating a culture of symbiosis within your practice when it comes to respecting mutual success!
Do you want to find out more about optimising your staff to ensure your practice’s profitability?
If you’d like some more advice on how to effectively establish and implement a performance management system that not only recognises your best people but improves your practice’s performance, get in touch with Alison Maytham at Vizibiliti Management Services today.
Vizibiliti Management Services – Success is in sight!
BY ALISON MAYTHAM
“There are many different factors that determine the success of your practice – but, as a busy healthcare professional focusing on the needs of your patients, you may not always have the time to focus on the many demanding, and often complex, facets of managing your business. Vizibiliti provides you with easy access to insightful, comprehensive practice and business management solutions and advice across all stages of your business journey – from establishing, growing or closing your practice.”