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Financially Simple Bizcast

The Financially Simple podcast is your one-stop resource for small business owners. Gain unique insights into growing, refining, and selling businesses. You will hear ways business owners have reduced their tax liabilities, increased their income, improved office morale, saved for the retirement of their dreams, and more.
Host Justin Goodbread is a serial entrepreneur, award-winning CFP® (Certified Financial Planning professional), CEPA® (Certified Exit Planning Advisor), and CVGA® (Certified Value Growth Advisor) with years of experience guiding business owners from start to exit in their business.

Nov 22, 2018

In episode 110 of Financially Simple, Justin talks about Employee Performance Reviews as a tool for growth.

Performance Management is key to developing a business. Constantly evaluating, discussing, and setting goals drives a business forward. Justin takes a look at the components of Performance Management, and the steps to take throughout the process.

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00:33 - How to Use Performance Reviews for Value Growth

01:11 - Performance Management

02:31 - Have Clear Documented Expectations

03:19 - Regularly Discuss Key Components

03:58 - Meet with the Team Regularly

04:54 - 360 Feedback

05:28 - Share the Performance Review Format

06:43 - Work Together on Goal Setting

07:31 - Discuss the Positive and Negative Components

08:55 - The Process

09:09 - Setting Goals

10:12 - Review Goals

10:41 - Review Results

11:38 - Assess Progress

12:48 - Employee Self-Assessment

13:27 - Review Year-End Results

14:05 - Manager and Employee Discuss and Confirm Employee’s Ratings

14:45 - Closing



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Neither Financially Simple, LLC nor its affiliates offer tax or legal advice. Interested parties are strongly encouraged to seek advice from qualified tax and/or legal experts regarding the best options for your particular circumstances. Justin Goodbread, CEO of Heritage Investors, LLC, a Registered Investment Advisor, is an Investment Advisor Representative who offers advisory services through Heritage Investors. The information contained within the podcast is for informational purposes only and not considered investment advice. Seek help from a competent Financial Advisor.