Performance appraisals

Christmas parties less costly than firms think

According to the Association of Chartered Certified Accountants (ACCA), Businesses should not cancel their Christmas parties without working out the costs involved, as they can be cheaper than expected. Recent research from the Institute of Directors found that more than a quarter of businesses are cutting back on expenses this year, including paying for a Christmas party. However, ACCA head of taxation Chas Roy–Chowdhury said businesses can reduce the cost of parties by taking advantage of tax savings. He pointed out there will be no taxable benefit in kind for employees as long as costs are kept under £150 per head. “As long as parties are open to all staff, up to £150 can be spent on each employee that is tax deductible, with another £150 on each employee&r... »

A Small Business Guide to Performance Appraisals

A Small Business Guide to Performance Appraisals

Keeping employees motivated and focused is a key skill if you are to keep moving forward as a business; without giving people regular feedback on how they are doing, there is a danger standards will slip and you could stagnate or even go backwards. Performance appraisals are a widely-used tool for employee feedback and are crucial in helping your staff understand what you expect of them. Presenting staff with concrete goals and objectives and reviewing the results on a regular basis will give people a clear sense of direction and responsibility, improving your business as a result. This article will cover all you need to know about conducting your own performance appraisal; outlining the benefits, how to prepare a self-assessment form, how to conduct and follow up an appraisal meeting, and... »