'Prep Talk' #1 - 4 Strategies to Prepare for Your Performance Review
Performance Reviews typically occurs on a regular schedule so it's surprising to me that most employees are still caught off guard or believe that they do not need to do anything to PREPARE for this conversation.
Here are 4 Strategies to make sure you’re
PREPARED for your Performance Review:
#1 Preparation begins the previous year
YES. Prepare the year before by aligning to the goals you set with your manager the previous year. Each year, work towards your goals. Check off tasks that go along with each goal that was set for your development. (Now that you know this, you will be preparing this year for next year's review.)
Schedule a meeting with your manager to discuss how you can take your career to the next level. This must be done anywhere from 3 to 6 months prior to our review. The earlier the better.
Now, here's the money talk. We’re planting the seed right here below:
#2 Set Expectations
Discuss the expectation that compensation will be tied to you exceeding your defined goals. This makes sure that your manager knows that you will be discussing compensation in your next meeting -- in about 3 months (quarterly is my recommendation).
#3 What have you done for them lately?
Remember, this isn't all about you. Well... it is and it isn't. Remember, we create Win-Win solutions, right? So...
What significant accomplishments have you made? What contributions to your company's successes have you made? Better yet, how have you made your manager's life easier at work?
Keep a record of your wins, your successes, your responsibilities, and your impact. This way, you have metrics and proof to back up what you’ve done and the value you continuously add. Track your progress towards your goals.
Next, have the conversation with your manager about where you are with your goals and how you've constantly and consistently exceeded them.
If you haven’t shown significant results. Extra hours do not equate to added value. It may backfire on you and possibly reveal that you may have poor time management skills. If so, we should talk.
#4 Be prepared for ANYTHING
Have you thought of what you’d do if your review wasn’t favorable and didn’t go the way you anticipated? Are you ready to refute or rebut your unfavorable review if you get blindsided? Are you ready to re-negotiate your salary with counter offers? Have you assessed whether or not the company still meets your needs? Have you outgrown your role? Have you outgrown the company? Assess where you are and be prepared for just about anything.
THE MONEY TALK:
NOW it’s time to discuss real compensation.
Take a deep breath.
You got this!
You’ve been putting in the work and having major 'badassery' success. You’ve been gauging your manager’s response to you along the way. This isn’t a surprise conversation.
BUT… be prepared for absolutely anything. You will win regardless of the outcome.
This money talk is now based on what you've done as a top performer and what you've done with more responsibilities. Now that your manager sees how badass you are, and how dependable and reliable you are in making their lives easier at work, they will not want to lose you.
Someone who's doing an extraordinary job like you, must be compensated appropriately.