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The busy person’s guide to stress-free performance reviews
accelerateonline • Aug 30, 2019
How well are your staff performing? Do they love their job? Performance reviews, an open two-way conversation held once or twice a year, are a great way to find out. While you’re not legally bound to do appraisals, they’re a great tool to keep your business running smoothly.
- Open communication lines early
Whether you have five or 50 staff, communication is key when it comes to performance reviews. Let your staff know early (ideally during induction) what goals and objectives they need to meet and give them a chance to voice their ideas. By reviewing and updating these at each review, it will be easier to explain why they’ve received a less-than-perfect appraisal if their performance wanes. - Address challenges ASAP
If an employee is under-performing, there are a range of things you can do to help. Just make sure you do it sooner rather than later. Try observing them and gently offering constructive advice to help them do their job better. You could offer extra training to improve their skills if necessary. Consider any challenges they’re facing outside of work – flexible working conditions may be a positive solution for both of you. - Preparation is key
Give your employee at least a couple of weeks’ notice so you both have time to prepare for the appraisal. Look at your employee’s job description, notes from previous reviews and performance indicators in advance. Send your staff member a list of questions to review ahead of time, in relation to areas such as job satisfaction, responsibilities, and work/life balance. If your employee is a star-player, get feedback from other employees or key customers to support that view. - Keep it formal but friendly
A performance appraisal isn’t Dragons’ Den or a casual chat over coffee, it’s somewhere in between. It’s a chance for both of you to honestly discuss the role, whether goals have been met, what’s good or bad about the job, and if their pay will increase and why or why not. - Write everything down
Take notes at each review and share a written summary with your employee afterwards to ensure you agree it’s a true reflection of what was discussed. This is key if a staff member isn’t performing because if you have to let them go, you’ll have proof of warnings and the steps you took to try to help them improve their work. - Book in regular catch ups
Keep employees engaged and avoid potential issues by setting up informal chats once or twice a month. You don’t have to wait for the full performance review to give staff feedback or get feedback from them.
Accelerate - December 2023
Accelerate August 2023
Inland Revenue have recently announced this year’s livestock Herd Scheme Values and we think this is a great opportunity to update you on the latest movements. The Herd Scheme Values are the National Average Market Values, determined by a process involving a review of the livestock market as at 30 April.
The values for Dairy this year have seen a fall in values across all female classes, but increases across all male classes. The fall in R1 heifer values can be attributed to the prohibition of live export by sea commencing from 30 April 2023. For the first time the National Average Market Value for R1 Heifers is less than the National Standard Cost of breeding and rearing an R1 Heifer.
In contrast to Dairy values Beef values have increased on average 9% and are almost at record values for all classes.
Sheep values have all fallen from the high of 2022, slipping back an average of 10.2%. Whilst values have fallen, they are still either the second or third highest that they have ever been depending on which class of sheep you are looking at.
Goat values have increased on average 7.8% with almost all classes of fibre and meat producing goats at record highs. The value of milking goats continues to be well down from historic highs, except for breeding bucks which are at their highest value.
Like the rest of the world, New Zealand has reeled from the aftermath of Covid, rising inflation and interest rates, and the cost-of-living crisis. This year we also have a massive storm damage repair bill.
Any tax cuts, or changes to the tax thresholds were vetoed in Budget 2023 as this was viewed as worsening inflation.
Budget 2023 builds on the $889m already provided in response to this year’s storms. A further $6b is allocated for a National Resilience Plan , for rebuilding after weather events. $71b is committed to new and existing infrastructure projects: not only storm damaged communications, power and roading, but schools, hospitals, public housing, rail and road.
