Category: Employees
THE DREADED ANNUAL REVIEW
Here comes 2005! It's great to be a business owner, isn't it? We just close the books on 2004, hand everything over to the accountant and start all over again with a clean slate. Many of the "employees" of the world have a different process to go through at this time of the year - "The dreaded annual review"! Ever work for a big company that did these? I sure did, and some years it wasn't something I looked forward to!
Why do companies do this to their employees? A few reasons: They may want to be very truthful and honest with their employees and make sure that the employee gets very clear feedback about where they are, what they've done well, what they need to work on. Many companies decide how much (if any) raise there will be for the employees. They go through an elaborate process, essentially putting each employee into a category of Poor, Fair, Good or Excellent. Sometimes this is done on a series of skill sets for the position. Based on this assessment and how long they've been in that position - a new salary just appears on the employee's paycheck.
So, as a business owner - Who does YOUR annual review? If the answer is - "No one, thank you very much," I'd like to invite you to change that this year. Why should you do this for yourself? At least once each year, you need to take the long view of what happened in the business, and where you're going to go for the next year. But how do we do this review and take the word "DREADED" out of it? Here are my 7 easy steps to doing just that:
1. Get Comfortable - One past client of mine did this process with "a fine cigar and a bottle of scotch while sitting in front of a roaring fire in the fireplace". Whatever your equivalent is - do it. Get comfy.
2. Grab your set of goals and objectives for the past year - if you have a printed set of goals and objectives for the year, you're done with this step. If not, think back to January of the last year and make up a list of things you would have like to accomplished.
3. Give yourself a rating on each objective - I'm old school, so I do "A" through "F". Yes, it may be difficult - but rate each one as objectively as you can.
4. Now add to the list the things that happened that you didn't plan for - The good as well as the bad. Rate these as well - however you did it in step three.
5. Wipe out the "Dumb Ideas" that were on the plan - This is always a fun step, looking back on some of the things that you thought were important goals or objectives for the year, and now seeing that they really were dumb ideas. (These were probably objectives that got low ratings, so you get to have fun here wiping out the low scores).
6. Write down at least five things that you learned last year - Heck, you just spent another year as a business owner, you must have learned at least five things about yourself, your business, your views of the world. Write 'em down.
7. Create this year's plan - Take the objectives for the prior year that weren't hit but are still important and write them down. That's the base. Now brainstorm/dream/wish list other ideas for objectives for the year. Add in anything that comes from the list of things that you learned last year.
Feel free to use the worksheet I've designed at the bottom of this email. It will give you the format for everything. Just "fill in the blanks."
Now what about that pay raise for you? It will come as you do the process I just described. It may not start next week or month, but follow this process and you'll be quite pleased with the raise you're able to give yourself this year.
Till next time,
Copyright 2004 Jerry Wistrom and All Out Coaching, LLC
All rights reserved. |
| |
This month I'm devoting the newsletter to the concept of TEAMS.
First off, we need a working definition of TEAM; How about: "A group of people working together toward a goal or having a shared purpose".
Who benefits from being a member of a team?
Everyone should. AND... the team itself needs to prosper.
Examples of Teams:
A) Members of a high school sports team. Do they all benefit from being a member of a team? Absolutely. Each one grows in their skills in the sport. Each one shares in the victory and learns from the defeat. Does the team itself prosper? Yes, I think so. The better the team is, the more attractive it is to other potential players.
B) Members of a "sales team" within an organization. Each member should share in learning and growing as sales professionals. The team helps to keep each of its members motivated. And maybe it shares in the victories and defeats. Should the team itself prosper? Yes. The team needs to find ways to expand and grow. It needs to continue to find ways to bring more value to its members.
C) A less traditional or obvious one is being a member of your trade or professional association. The association may certify it's members, help to promote the profession itself, help to pass legislation which aids it's members, hold conferences and meetings to help educate/motive/expand the member's skill set.
Is there an "I" in T-E-A-M ????
"I" sure think there is.....
Although your coach in High School may have said that there's no such thing....
This coach would beg to differ.
Here are some thought provoking questions:
1) What do "I" bring to the team?
2) How can "I" help improve the team?
3) How can "I" best help each team member individually?
You may have been taught a couple of things over a long period of time:
1) It is great to be a Team Player.
2) In business you have to "Go it Alone"
Well, these are certainly contradictory!!
As you read about teams, one of three thoughts probably come to mind:
1) I'm already in a team and it's great.
2) I'm already in a team and it's terrible
3) This team concept doesn't apply to me
4) I don't have a team "available" to me, but I sure wish I did
Let's take these one at a time and give value to each.....
If you're already in a team and it's great WONDERFUL. You know exactly what I'm talking about. My questions to you are: Can you make it better? Is it great for everyone, or just you?
If you're on a team that's terrible let's dig a little deeper.
First off, are there clear objectives for the team?
Are there clear responsibilities for the people on the team?
Are there personality or other conflicts with the teammates?
How can you be a part of fixing these issues? OK, that one's not a rhetorical question. I mean: How can YOU be a part of fixing this?
If you don't think that the team concept applies to you, think again. How much better would you or your company be if you could utilize some of the skills and talents of other people? How much more productive could you be? What further service can you be to your customers? How much better could your profits be? Many professionals are in business for themselves, but are part of an "informal team or network". Why can your physician easily recommend another doctor who specializes in something that your doctor doesn't? Because they're part of "a team". If a lawyer can easily refer her clients to an accountant because they already know the ethics and capabilities of the accountant, you've just witnessed a "team approach" to helping their clients.
Maybe you're a "solo-preneur". Could you use some creative help? How about some financial advice? Help marketing your store/product/service? Why not have a team do it with you?
If you don't have a team "available" to you, but you'd like one... CREATE ONE!!
There's nothing stopping you. It doesn't have to be formal. It doesn't have to be "approved" by anyone. It can be something that you put together that helps all the people involved. If you think that a team could be appropriate, I offer my "How-To-Guide for Creating a Superb Team."
1) Get a vision for the team Make sure there's a purpose. One that everyone can understand and "buy into".
2) Determine the rules for the team Who does what and when. Why? How?
3) Determine leadership Who's going to play that role? How often will it change? How will it change? What responsibility will the leader(s) have?
4) Determine how will the team communicate. There are so many options open to us today. We can communicate in person, by phone, by email, by tele-bridge, by video conferencing.... Etc.
5) How will the team expand? And Why?
6) When a goal is met, how will the team celebrate? - Think this isn't important? Ask any insurance agent if they want to be a part of the "president's club" or whatever the top sales professional's "club" is called for their company.
OK- here comes the plug..... Seriously consider having a business or personal coach fill one of the spots on the team. A good coach is trained to support/motivate/inspire/set direction/help create vision/find and fix problems...and in general, be a great team player.
Until next month then... Be Well, and I Hope to See you Soon,
Jerry
PS - Those of you in Windsor, Connecticut - Don't forget to turn your TV to Cable Channel 21 for the Windsor Fun Facts LIVE game show this Friday, March 21 at 7:00pm. You just may see your favorite coach dressed as "Hulk Hogan". The rest of you will have to beg for a tape of it! The things I do for publicity.... Geesh!!
PPS As you may or may not know, I build my practice ALMOST EXCLUSIVELY through your referrals. If you know someone who's business or personal life just isn't where they want it to be, please give them my name and number. During a complimentary session, I'll be happy to see if there is a way that I can help. All sessions are strictly confidential.
2003 Jerry Wistrom and All Out Coaching, LLC
All rights reserved.
|
| |
| |
|
|
