Many year-end performance appraisals spill over into the new year, bringing with them some excellent chances for astute staff. Leaders are seeking quick solutions to retain workers as millions of individuals continue to depart employment and corporations face millions of job openings.
Employees should prepare for their year-end assessments, according to experts, by developing a strong case based on their own performance. Here are five methods to prepare for that conversation.
1. Set aside modesty.
Most employees are hesitant to discuss money or their accomplishments, but your performance review is the ideal opportunity to do so. This is one of those times when you need to harness some selfish energy. Prepare to speak about your top ten successes at the conference.
2. Discuss the significance of your work.
Rather than talking about what you achieved at work last year, concentrate on the effect of your successes and how they impacted the company’s bottom line. Prepare to talk about the direct economic impact of your activities on the company’s profitability. Consider greater client retention, higher sales or income, or extended market reach.
3. Determine your market value.
If you feel your compensation is below market, look into how many people in your job earning the same years of experience, education, and abilities are earning in the same city. However, because the pay figures are self-reported, most managers are sceptical of statistics from sites like Glassdoor. If you have a buddy who works in a comparable field and gets paid more by a rival, that data may be more persuasive.
You should only request a rise at a performance review if the conversation with your manager is pleasant. Don’t ask for additional money if you’re getting unfavourable criticism about your performance.
Don’t ask for a rise if your firm hasn’t had a profitable year and has had to lay workers off. However, you should make a claim for a rise in 2022. Recognise that the firm has had a difficult year, but remind your management of your successes.
5. Leave personal finances out of the conversation.
When asking for a rise, never bring up inflation or your desire for more money. Your boss doesn’t want to hear that inflation is making it difficult for you to stretch your pay since everything is getting more expensive. And your own financial condition will not sway your management. Don’t discuss how you want to purchase a bigger house or how the city where you work is too costly to live in.
