The best money management strategy in today’s bear market is to maintain a steady income! One way to do that is to rock your annual performance review. As companies feel pressure to reduce costs by eliminating staff, they’re going to get rid of their poor performers first. Now’s the time to prepare for your review — here are some tips on how to do it:
Avoid being a target for layoff
Make sure you know what your goals are and how you will achieve them. Many companies outline specific quarterly or annual goals for their employees. If you don’t have explicit goals, ask your manager what you need to do before the end of the year to be considered a success. In either case, you better make sure you are on track to achieve those goals by Dec. 31 — you don’t want to give your employer any reason to doubt your motivation or abilities. If you are struggling to get something done, talk to your boss about it now and ask for help in creating a plan to help you finish the task before the end of the year.
Take on new responsibilities. If you’re set to meet your goals for the year, look at other areas where you can make an impact. Prepare a report on competitors’ products; volunteer to manage a part of a big project; propose a way to make company operations more efficient. Think of it like an extra credit project from school.
Document and communicate. Your achievements are no good unless your boss and her peers know about them. Write up a report that details your accomplishments and how they’ve benefited the company. Talk about your accomplishments to your boss and other key managers before your review. This is no time to be modest — you’ve got to toot your own horn!
Filed under: Career Tagged: | Career Management
