Business Careers Handbook

Page 125

SURVIVING AND THRIVING

The Business Careers Handbook 2020

123

Handling performance reviews

Ah, the performance review. Enough to make even the boldest of us quake a little in our boots. But it doesn’t have to be like this. After all, the purpose of performance reviews is simply to help us learn more about ourselves and to grow. Remember, most of the time our employers only want us to succeed – reviewing your work is a great way to learn how to do that! Performance reviews are typically held once a year. You and your manager will review your work and what you have accomplished during this time. It’s also an opportunity to discuss remuneration such as salary and bonuses. Here are some strategies to help you approach your performance review: ■ Know what you want: remember, this is your career – and no one else is going to be as interested in it as you. It’s critical therefore to enter a performance review knowing what you would like to get out of it. Do you want a promotion? An internal transfer? A move to a new location? Study or professional development opportunities? Be clear on your intention for the performance review. This will help you to prepare your thoughts – whether that’s questions to ask or arguments to put forward – and will help you to guide the conversation where you can. ■ Be open to feedback: this is key! Performance reviews are an opportunity to really listen to what your manager and team think you could improve on. Maybe it’s learning to speak up in meetings, to pay more attention to detail or to learn how to look at the bigger picture in a more strategic way. Whatever it is, this feedback is extremely valuable and if taken on board can help you to grow in your role and beyond. ■ Ask questions and get clarification: if you don’t understand feedback that is given to you, don’t be afraid to ask questions. It’s important you are clear on what you are being asked to do – and how to do it. The performance review is a time dedicated specifically to you and your development. So, be selfish, use the time and ask questions to get the answers you need. ■ Agree on a path forward: during your performance review, it’s important you set the expectations

for your performance in the future. Know what you’re being asked to do going forward and set in place some performance metrics with which you can measure your progress. This will provide an objective measure for future performance reviews. ■ Know your worth: if you are planning to negotiate your salary or bonus, it’s important to know your numbers. Whether internal or external, find some benchmarks for comparison, such as figures from other organisations or industry averages. Be sure you can point to specific accomplishments and reasons why you deserve higher pay. ■ Don’t lose your cool: if you believe you are being unfairly criticised, or you don’t support the feedback you are given, be careful in the way you respond. Taking a defensive or aggressive attitude may demonstrate that you aren’t open to feedback (and therefore growth and personal development), which may not be the best move. In this instance, it might be better to take a little time to reflect on the feedback provided. If necessary, you can prepare a counter argument and brainstorm examples that serve as evidence, before meeting with your manager for further discussion. During your performance review, it is acceptable to mention that you would like some time to reflect on the review, and ask if you can revisit the discussion again later.

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Articles inside

Maintaining mental health

2min
pages 130-132

Establishing strong professional relationships

5min
pages 126-127

Handling performance reviews

3min
page 125

Learning how to resign

1min
page 129

Managing your time

3min
page 128

Managing social media

3min
pages 121-123

What to expect at an assessment centre

2min
page 119

Understanding probation

3min
page 124

Getting an offer

2min
page 120

How to ace an interview

3min
page 118

Writing a CV and cover letter

7min
pages 114-115

Sample cover letter

4min
pages 116-117

Researching and choosing the right organisation

6min
pages 112-113

The ultimate career readiness checklist

6min
pages 110-111

Professional services

47min
pages 88-109

In-house and corporate

51min
pages 66-87

Government sector

30min
pages 54-65

Freelance and start-ups

6min
pages 52-53

Community sector

8min
pages 48-51

Academia

5min
pages 46-47

Restructuring and insolvency

3min
page 42

Tax advisory

3min
pages 44-45

Management consulting – operations, process and technology

3min
page 40

Insurance

3min
page 39

Risk management

3min
page 43

Management consulting – strategy

3min
page 41

Forensic accounting

3min
page 38

Economics

3min
page 37

Assurance and audit

3min
page 36

Financial planning

3min
page 34

Funds management

3min
page 30

Hedge funds

3min
page 31

Venture capital

3min
page 33

Operations and supply chain

3min
page 27

Private equity

3min
page 32

Sales and customer service

3min
page 28

Marketing

3min
page 26

Innovation and digital

3min
page 25

Human resources

3min
page 24

Communications and public relations

3min
page 23

Accounting

3min
page 22

M&A and capital markets

3min
page 17

Trading

3min
pages 19-20

Corporate and institutional banking

3min
page 16

Corporate and asset finance

3min
page 15

Business banking

3min
page 14

Introduction

1min
pages 4-5

Retail banking

3min
page 18
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