5 Reasons Why You Should Focus on Your Annual Performance Review - CareerAlley

5 Reasons Why You Should Focus on Your Annual Performance Review - CareerAlley We may receive compensation when you click on links to products from our partners. Its that time of year that many of us dread the annual employee performance review review process. You know the routine this is where your manager will review all of the great things youve done and, of course, the not so great or could have been better things. Now if you have a good manager, nothing in your annual performance review should be a surprise. Your manager should be communicating with you throughout the year regarding the good, the bad and the ugly points of your performance. But not all managers are good managers (in fact, really good managers are few and far between), and many times the bad news is not heard until the annual review process. So why leave anything to chance? The Performance Review process (whether you are a manager or the managed) is a two way street. While managers should be providing regular feedback throughout the year, employees should also be proactive in managing their career and their managers perception (be it reality or otherwise) of how they are doing. If you are not driving your career, dont expect anyone else to. So what performance management tips should you consider in advance of your annual performance review? Read on. Your Career Path As Yogi Berra once said: Youve got to be very careful if you dont know where youre going, because you might not get there. You should always keep you career path / plan up to date. As you progress through your career your goals and objectives will most likely change based on the experiences (both good and bad) that youve had. But what good is an up to date career path if you are the only one who knows the details? You should also discuss this with your manager so that she is aware of your long term plans. Bonuses and Raises Lets face it, other than wanting to save the world, one of the reasons most of us work is to earn a salary to pay our bills, fund our vacations and hopefully save for our retirement. The annual performance appraisal is a prelude to bonus and raises. You need to discuss your bonus and salary expectations with with your manager before your annual appraisal. This too takes some research as you need to feel comfortable with what the job is worth, what you are paid balanced with the value you add. Aiming too high is just as troublesome (maybe more so) than aiming too low. There are tons of resources available online to help you strike the right balance. Promotions There is, of course, some correlation between the previous topics and promotions. Promotions tend to lead to higher compensation and also represent one small step in your career path. Promotions generally lead to more responsibility, longer hours and sometimes additional managerial responsibility. Another topic that you should discuss with your manager prior to your review is your expectation regarding promotions, even if you think it is a year off. This is your opportunity to find out from your manager what you need to do in the next year to get to the next level. Change in Management It happens all of the time. Your manager gets promoted or leaves the firm, there is a management shakeup at the top, whatever the change it can be unsettling. The point here is to not put your eggs in one basket, the basket in this case being your manager. Simply put, share the wealth. Ensure that other managers (and to the extent possible, senior managers) know who you are, know what you do and respect your position in the organization. Restructurings, Mergers, and other Weapons of Mass Job Destruction If you are lucky, youve never experienced a corporate meltdown. There is really no way to prepare for major changes in the organization as you never know the where, what and when that drives the change. Obviously, if your company or division is not doing well this is a telltale sign. So, you are probably wondering what this has to do with your annual appraisal. The advice here is similar to the topic above, but goes a little deeper. Whenever there is a corporate restructuring, one of the main drivers as to who will survive is performance. How do you stand up to the competition. To that end, those who have done well in preparing for their annual appraisals have the best chance of survival. Yes, hard work surely counts, but only if youve done a great job at communicating your successes and it is reflected in your appraisal does help in this case. Good luck in your search. Visit me on Facebook