Editor's Note: Take a look at our featured best practice, Objectives and Key Results (OKR) (23-slide PowerPoint presentation). Successful organizations are using Objectives and Key Results (OKR) now. OKRs are efficient way to track company and team goals and measure their progress. It helps every organization's success by cutting out unimportant goals and focusing on what truly is important within the organization.
OKR [read more]
Also, if you are interested in becoming an expert on Performance Management, take a look at Flevy's Performance Management Frameworks offering here. This is a curated collection of best practice frameworks based on the thought leadership of leading consulting firms, academics, and recognized subject matter experts. By learning and applying these concepts, you can you stay ahead of the curve. Full details here.
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Performance reviews, while not necessarily the most effective way to do business, are a realistic part of the work year for many employees. Many people find the review process stressful, but I believe a great deal of the stress and anxiety around performance reviews can be reduced or eliminated with proper preparation.
Try working through this list of ways to prepare
before your next performance review, because feeling prepared can reduce anxiety tremendously.
- Understand the review process.
If you’ve been through the process before this may be unnecessary, but if you’re in a new job or there is a new process in place, contact human resources and find out as much as you can about the review process so you can be properly prepared. Don’t forget to find out how the review is related to compensation and promotions.
- Keep a work journal.
A work journal doesn’t have to be fancy;
it can be as simple as a running to-do list (with dates) where you mark of what you accomplished and when. I like the bullet journal method, but any list will work. This will help you remember your own accomplishments over time, as well as have evidence of those accomplishments.
- Do your own review.
If you are provided with a self-analysis worksheet, fill it out honestly. If not, make a list of your job responsibilities and conduct your own review of yourself. Be honest with yourself — that way, you won’t be surprised if you receive constructive criticism, and you can have answers ready for your manager on how you will improve in any areas that need it. Pay particular attention to making a list of your accomplishments and anticipating any feedback you may receive.
- Come up with your goals.
Managers often ask about your goals for the next year during a performance review, so take some time to come up with solid goals before you enter the review, so you’re not left stammering.
- Prepare feedback for your boss.
Depending on the format of your review, your boss may ask you to rate his or her performance as well. Take some time to formulate any feedback or constructive criticism you may have.
- Drive the discussion.
Before you head into your review, make a short list of topics that you would like to cover with your manager. Your annual review is a perfect opportunity to talk about anything that might be on your mind with regard to your career trajectory, team, projects, and so on. Take the opportunity to make the review work for you.
- Research salary data.
If you plan to ask for a raise, take the time to research average salaries for your position, location, and work experience, so that you have data to back up your request.
33-slide PowerPoint presentation
Organizations often face significant challenges in aligning their day-to-day operations with their long-term strategic goals. This issue of strategic misalignment is particularly detrimental to sectors like manufacturing, healthcare, and technology, where rapid decision-making and agility are
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Performance Management (also known as Strategic Performance Management, Performance Measurement, Business Performance Management, Enterprise Performance Management, or Corporate Performance Management) is a strategic management approach for monitoring how a business is performing. It describes the methodologies, metrics, processes, systems, and software that are used for monitoring and managing the business performance of an organization.
As Peter Drucker famously said, "If you can't measure it, you can't improve it."
Having a structured and robust Strategic Performance Management system (e.g. the Balanced Scorecard) is critical to the sustainable success of any organization; and affects all areas of our organization.
Learn about our Performance Management Best Practice Frameworks here.
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