How a Year-End Review Will Help You Plan for the Next One

Getting a performance review at the year-end is a normal process, but most employees are not aware of the fact that planning for it should have started at the beginning of the year. If you are going into a year-end review without much planning then you should make the best use of it and learn what you can, while trying to get a healthy raise in salary. We also look at how you should use such a review to plan for the next year, so that you get the raise that you deserve.

Not All Employees Get a Good Pay Raise

Even if you have worked hard during the year and meet the goals that a manager has outlined for you, it does not mean that you are guaranteed a good pay raise during a year-end review. Managers are often tasked with keeping the percentage provided as a raise to a minimum, so that salaries for a team do not overshoot the budget provided by the company. Employees therefore have to make every effort to ensure that they get the raise that they deserve. Planning ahead therefore is vital if you want to get a raise that is around 4-5 percent at least.

Create a Self Assessment

An important state in the review process is a self-assessment and this is where you should showcase your accomplishments. State facts and figures, for example the large volume of leads you brought in is a good way to remain objective and it lessens the chance that your manager will contest them.  While making a self-assessment send a lot of time on it and do not rush the process. Also ensure that you record mistakes you made and provide details as to why you could not meet goals.

Approaching a Year-end Review

As you head into a review with your manager be prepared to listen and record what they are saying. So don’t hesitate to take notes which will come in handy when you are planning for the year ahead. During the year you should also update the notes with changes that your manager suggests. Also ensure that your manager specifically outlines which areas he wants to see improvement in during the review, as this will reduce any chance of disputes later on.

Planning for the Next Year

During a year-end review process, you should start planning for the next year based on feedback received from colleagues and your manager. Additionally ensure your manager is specific about promotions that could receive in the coming year. If they hint that you “might” be up for a promotion in the coming year based on hitting a target ensure that you understand what he specifically means. It could just mean that you will be considered with several others for a promotion and the odds of actually getting it is quite low. So ensure that you do not have any doubts about what raise or promotion you could expect in the coming year.

Metrics and performance goals agreed up during a year-end review should also be factored into your raise in the following year. Especially if your company increases a sales target in a mid-year assessment, you can claim that you exceeded the target agreed upon in the year-end review for several months and therefore are eligible for a good raise.