CFO

Employee Reviews

Today’s post is by Randy Russon, founder of TOPCFOS

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The greatest asset any company will ever have are the people who work there. And, those who work hard inside of a company want to feel appreciated and valued. Compliments for these good people will go far to create a culture of respect and will pay many dividends. This is especially true when someone has a tough job and it takes so much effort to get the job done. During the cold hard winter months of Utah, I often drive by construction sites and see construction workers out there doing their job. I really admire these guys for putting up with the elements and carrying on in spite of difficult working conditions. One of the best books I ever read on managing people within a company was entitled “The ROI of Human Capital” by Dr. Jac Fitz-enz.

Dr. Fitz-enz talked about the importance of employee reviews. He recommended that at a minimum every employee should have a formal review every six months. I personally believe that employee reviews should be even more often than this. Employee reviews are really just good communication between leaders and followers. This good communication is how problems are solved and more efficiency is created within an organization. The more efficient an organization can be the more that organization will flourish. Another insight I want to share about some of the research Dr. Fitz-enz shared was about employee relationships.

Dr. Fitz-enz shared research studies that had been done regarding employee morale and satisfaction. One very interesting study that was done found that those who loved their jobs the most usually had a close friend at work – someone they could confide in and rely on. Isn’t this interesting? Sometimes, this close tie is the driving force that keeps someone on the job, especially if they have a tough job. So, it behooves good leaders to create an environment at work where employees can form these close friendships.

We hope you’ve enjoyed our Blog today. Please remember, TOP CFOS offers the finest CFO services to companies anywhere in the world and would love to be a part of your team. Feel free to reach out to us anytime. Your feedback is most welcome, and we invite you to share this post with friends and associates. During the month of August, we are offering a free service to our readers. We will help you set up your COA (Chart of Accounts) according to GAAP, all at no charge. Our contact information can easily be found here on our website, so give us a call today! Our next post will come from the Leadership category on our website and is entitled Integrity. And, thank you for joining us!