Every employee aspires to get a raise, irrespective of positions or responsibilities. It depends on many factors. Some of the companies give raises on a recurrent schedule, but some others finish the entire pay performance review to ascertain if the employee deserves a raise.
Pay performance reviews can be tense and stressful. Despite of your anxiety you have to take some actions that can boost your chances of getting a raise or any other sort of rewards. For this you will need to know the best ways to ace your next pay performance review.
How to Ace a Pay Performance Review:
1. Know expectations and exceed them:
Always make sure you ask descriptive questions so that you are not left with any doubts and know your tasks well. Prioritize the work by knowing when the work is expected to be completed.
Make sure you exceed each work by these step so that you finish the assignments more efficiently and in a timely manner. You will be able to leave an impression and a lasting one if you go above and beyond for a task.
2. Show your leadership skills:
Leadership is based on responsibility, thus take responsibility of all your actions. It includes the achievements and the blunders as well. Bosses are impressed by the employees who own up to their actions.
When you show effective leadership skills, you make yourself noticeable in front of the management of your company. It can account for an increase in pay or atleast turn you into an ideal candidate for a promotion to a position with additional responsibilities.
3. Get good knowledge of the review process:
You can check with your employer or the human resources to know if there is anything that has changed in the process since the past year. In case you are new in the company, research about the process or speak to the HR department and coworkers to gain knowledge on how the company carries out their evaluations and what are the things expected of you.
4. Do a self-evaluation:
You need to take some time to evaluate your own performance for the previous year. Make a list of the goals you achieved, failed or exceeded in. There is room for improvement for all, no matter how well you performed. List the areas where you wish to improve in the future.
5. Document your achievements:
Document the challenges you have overcome, projects you excelled in, responsibilities you played, the kinds of projects or clients such as big or valuable ones. Try to make boastful list with all your contributions and achievements for the previous year. Always remember to keep the document updated especially during the time of pay performance review.
6. Gather your facts:
Your boss is busy and have many other employees to attend to, thus you need to remind them of all the positive elements you bring to the organization. Make sure you document everything well prior to the review.
More definite the information you can prepare, the better. Enlist all assignments or processes that were augmented through your participation.
7. Build your case:
You cannot just say that you need a pay raise because you need to pay your bills, pay off loans or prepare for an upcoming wedding. You need to face the hard truths and know what are your contributions in the past year for you to be worthy of that raise.
For a pay raise you must deserve it for which you have to build a sturdy case as to what challenges you faced, what values you brought, what are your contributions in company’s success or even how your overall conduct as an employee is.
8. Compare your last year’s review:
Consider your last year’s review and find out the changes that have occurred since that evaluation. Has the tasks, responsibilities or your seniors changed? Are there any skills that you have improvised or built since then?
Check the comments made by your manager. Has the feedback made any difference on you or your performance from the past year?
9. Set goals for your discussion:
Know the result you wish to achieve from this conversation. If you are not sure what is your pile of achievements as compared to your colleagues then this is the best time to request for direct feedbacks. If you had concentrated on improving a particular skill, learn whether the uphill struggle is paying you off or not.
10. Generate a message:
The manager will try to keep the discussion focused on your contributions and its bottom line to the company. However, you wish to leave the boss with a firm message regarding your perception about your role at the company and the development of your role.
Your message thus should display how your performance sets you apart and places you in a position for prospective promotional opportunities in the organization.
11. Demonstrate why you deserve a raise:
Be comfortable while proving that you are worthy of a raise. There are many methods to do this like by presenting data or statistics associated with your performance throughout the past year.
12. Think about your career prospects:
What is the next step you wish to take in your career? If you have established goals what are the skills that you will need that you wish to build or what is the experience you wish to gain for achieving those goals.
Try to find a connection between those goals and your current position and tasks. Utilize this information to direct the discussion for your professional development missions for the upcoming year.
13. Build your own brand:
Use the review to establish your own brand. It is the “You” that plays the central role in the organization. If all come to you for help, if you are the reliable one who puts their best self out at work, or if you are the one who finishes a work not withstanding any hindrance then utilize it to build a brand of you which can be promoted in your review.
14. Discuss the prospects:
Never give the feeling that you will slack off after receiving the pay raise. Instead, discuss the future and the targets you have established for yourself and how these will be beneficial to the overall company. Employers are fond of employees who are highly boosted. Display to them how you are ambitious by more than just money.
15. Never slack off after an upbeat review:
Perhaps your boss has all good things to say about your performance as a result you may have a positive and upbeat pay performance review. This could mean increase in your compensation for instance. However make sure you are taking this as the motivation to work in the same path to grow more and not give a picture as if you got what you desired and thus slack off.
16. Don’t get emotional after a negative review:
When there is a bad performance review, you really question your position in the company or even your career path. You can certainly be frustrated but you must essentially be calm and open. The review is your boss’s opinion, take it practically and try to get good out of it rather taking no blame and not trying to improve at all, unless it is a case of prolonged negative reviews.
17. Impart your weaknesses strategically:
Presenting your weaknesses should be strategic; you cannot just criticize yourself as it is like flaunting your insecurities. Instead, acknowledge your flaws and present the solutions for them. If you believe some skill is lacking of you, which is essential for some tasks, then promise to develop it for the future.
18. Step into your employer’s shoes:
Perhaps you made some mistakes in the past year. Perhaps you have not executed your work as efficiently as you could have. You need to consider your situation by stepping into your boss’s shoes. If you are not receiving what you yearn for, dig deeper to discover the reasons why. With this you will be able to feel better about however things turn out. Next you can collect details that can help you perform better or as required for your desired compensation in the future.
19. Consider constructive feedbacks:
There are always things where you could have been better, no matter how well your performance was in the past year. In case you are not provided with constructive criticisms, do not shrink back to ask for it. Be evident that you wish to improve. Do not get emotional when you receive a criticism. Ensure you use it to your benefit because it will prove to be advantageous for you and your company as well.
20. Keep a broad mind:
The person who conducts a pay performance doesn’t have the same expectation as you for it to work out for you. If you have certain amount set in your mind that you want to earn, during the review, it may backfire. Thus it is important for you to have a broad mind for things may go differently.
21. Keep a right attitude:
Never think of the review process as something you want to get rid off as soon as possible. Instead consider this as an opportunity to get your boss’s attention to all your accomplishments which may have went unnoticed by him. You need to avoid the two possible attitude traps which is firstly, arrogance or considering yourself overly subordinate.
22. Never blame others:
In case you are blamed for a mistake you did not commit, it will be smart enough to take its responsibility anyway, unless there is a risk of being fired. Most of the times your bosses just want to know that measures are taken so that it won’t happen again.
23. Take notes during the review:
There may be a lot of points that could be raised by your employer which is important for you to take notes of in order to know what their expectations of you are and how you need to perform or exceed in order to receive a raise for the next year. Thus you must take notes of all that is mentioned, weaknesses or strengths. Ask for a clear picture of how you are performing as a whole. It will display your commitment to improve and develop as an employee.
24. Do follow up:
Do not leave the conversation without setting further actionable steps with your employer. If you are handed with any follow up tasks, ensure that you complete in the given amount of time.
25. Never forget preparation:
No matter what you plan to do, never miss the preparation part of your review. A boss will notice your ability to present yourself as a valuable asset to the company and remember the preparedness when there are promotion opportunities.
26. Consider your boss as a coach not an interviewer:
Probably your boss is as uneasy as you over the pay performance review. They are actually present to discuss it with you and understand the progress made by you in the last year. Thus it is important for you to help them work out to find your value in the firm as part of championing your pay performance review.
27. Ask for help where needed:
Take the opportunity to ask for any help that you need to perform an even better job. Tell your boss where you lack training and where you need support. This will be perceived as your dedication to never go wrong at work.
28. Speak clear English:
Avoid using jargons or using management language and say things like, “strategic resources were controlled by us.” Utilize clear and plain language to illustrate your achievements. Talk about concrete specifics and not generalities.
There are individuals who wait eagerly for pay performance reviews; on the other hand there are others who dread this because it causes nervousness as to what is going to happen. But if you follow the above powerful tips, you will surely be confident and able to champion your next pay performance review.