Why Performance Reviews Essential for Salary Growth - Action You Need to Take ??

According to a recent survey, only 30% of employees report having regular performance reviews at their organization. However, 50% of respondents said they don't have them but believe they are necessary. Shockingly, a mere 10% don't see the importance of performance reviews ??

The data is clear - regular feedback and evaluation are crucial for employee progression and compensation. Let's agree on a simple fact, if you don't speak out of your achievements, nobody knows about them. It's a two-way road:

1?? Managers struggle tracking performance, identifying growth opportunities, and making informed decisions about promotions and salary increases, if the there's no a structured review process ????

2?? Employees feel demotivated, discouraged and searching for a new job i/o keep pushing at the current one, because statistically, it's more beneficial to get a new job as they feel underestimated and unheard. Does it sound familiar? ??

Regardless, whether your company does or doesn't currently have a performance review system in place, that what you need to do within next week to be ready to Negotiate a Raise You Deserve ????????

?? Review Your goals / focus areas at work over past 6-12 months:

• Think about the progress you've made: what new tasks have you taken on? which teams have you collaborated with? and have you used any new tools? ??
• Put down any obstacles or challenges you faced in achieving professional goals
• How do you assess yourself compare to your colleagues? Have they done more / less? Were they assigned with different projects? How do you think, why?
• Provide specific and actionable feedback

?? Understand the company's strategic priorities over past 6-12 months:

• Review any publicly available information about the company's mission, vision, and mark 1-2 main strategic objectives
• Look for any company-wide initiatives, projects, or focus areas that have been communicated to you or to your team
• Understand the specific goals and targets set for your department or team

In conclusion, reflect on the actions you’ve taken at work that have helped the company reach its goals. They might be pretty simple actions, I'll give 4 focus areas below for your reference:

1. Streamlining internal processes: I collaborated with my team to redesign the process, eliminating redundant steps and automating certain tasks.
2. Enhancing the customer experience: I noticed that some customers were experiencing frustration with our product support. So, I worked with the customer service team to develop a more user-friendly troubleshooting guide and streamline the issue escalation process.
3. Fostering cross-functional collaboration: I recognized an opportunity to better align the marketing and sales teams' efforts and I organized a series of cross-functional workshops to facilitate knowledge sharing and align on messaging and target accounts.
4. Implementing sustainable practices: I identified ways to reduce our department's energy consumption and waste generation. I worked with the sustainability team to implement measures like upgrading to energy-efficient equipment and introducing recycling programs.

It's not the easiest thing to do but you have an entire week to come up with a list of 10 actions that helped your company to achieve its strategic goals. And then, next Wednesday, 3-July, I'll tell you how to use this priceless list to increase your salary! ??

P.S. If you need help with any of the steps, just leave a comment below and I'll help you.