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Tuesday, January 29, 2008

Performance Review Time

It is actually pass the time when my annual review is due. With a new outside management parent company things have been crazy. Since I am planning to NOT spend any raise and just apply it to our debt snowball, it really isn't like I "Have" to have a review now...I just want to get it over with.

I am one of the lucky few that gets and gives reviews...middle management my boy, middle-management :) However I thought that I would give some tips for being on both sides of the review desk. I have had tips on your career before, but this post is aimed at helping you during that once a year love-fest.

Tips for the reviewee:

  • Document any and all victories - Throughout the year keep a $2 journal of all the things that you accomplished...do not be shy or humble. The ones that can document and show their value get the raises intended for the humble!
  • Before your Boss writes your review - Make sure you get the information to him/her. If you format is the way reviews are done, by strength type, all the better. Bosses are people too and will use a lot of what you said if you provide it. Hopefully this leads to a more positive review, unless you are a horrible writer :)
  • Push if you can, Pull if you must - Set a level of expectation to your salary requirements. You'll be surprised how much a, "Hope we are least looking at 5%, Bob!" Will go. First off it will gauge their reaction. If he answers, "Not likely" ask why and be prepped to go over your best points verbally. Even if you don't get 5%, you will set an expectation level of which Bosses are loath to break unless they have too. So give them a nudge up, or even a slight pull, but...
  • Don't Threaten Everyone - Unless you are prepped to walk, greenmail is very tricky and you can wind up begging for your job back at a lower rate...I have seen it happen!
  • Don't be defensive, but ask for clarification - If points come up that surprise you, like you think your productivity is high, but your Boss feels it is low, ask for direct example clarification and be prepared to have counter examples. This has to be delivered in a frank, non-confortational manner.

For Reviewers:

  • Get the review done on time - It is not fair to make someone to wait to know what they got as an increase, which is really the main thing they want to know. You don't like it, so don't do it to others!
  • Nothing in the review should be a surprise - If someone is not picking up the slack...tell them now and not a year later. All you did is make sure it didn't get corrected!
  • Have weekly one-ones - I try to have weekly one-ones with each of my staff. I have my set questions, but the rest is their time. Whether it is to get me to finally sign the doc they need, or discuss their career path with the company. Want to increase retention and not be blindsided by someone leaving? Do this now! You will separate yourself from 99% of other managers
  • Praise twice for every hit- No one feels motivated after a hour beating! Make sure to reinforce the good aspects, if they don't have any...fire them. You are better off with with NO-body than A Body.
  • Don't blame other for anything negative - The "I think you are great, but Sara really doesn't like you". Take a stand. This is Your review of them, not their peers, or your bosses.
  • Have clear examples of every criticism - if you say they are always late, have it documented. it should go, "Jill, on 14 separate occasions you were late". And have the back-up. Then it is the facts talking and not personal preferences.

The last piece of advise is to try and not take it personal, very few bosses (although I have worked for them) want to hurt or belittle you and usually genuinely want to be of help. Remember we all have two ears and one mouth!

I would also suggest that whatever bump you do receive, you do not start spending it. Forget it ever existed. We are adding ours to our snowball. If you continue to do this you will pay off debts faster, budget and manage your money better, and not get into the trap of spending every dime you make!

ps - The Carnival of Debt Reduction is now running over at My Dollar Plan it feature a special Life / Liberty post!


Fiscal Musings said...

Great tips. I made sure to document all the things I did during the year and correlate them to the goals that were set for me. It definitely helped the outcome of the review, but we'll have to see what the actual monetary value will be.

RacerX said...

Good for you! Make sure on top of that you are always networking. If they don't want to pay you others will!

Thanks for commenting!

Mrs. Micah said...

Having all that written up will also prepare you for revising your resume or having good talking points at your next job interview. It can be so hard to remember January's accomplishments the next year.

RacerX said...

Exactly we all tend to short-change ourselves. If we don't give ourselves credit...who will!

Thanks for reading Mrs M!

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