Master the art of appraisals
Annual appraisals and performance reviews can be daunting, especially when it's your first. However, they are the perfect opportunity to discuss your aspirations or any obstacles you are currently facing and you should take advantage of them.
We've put together a few suggestions to help you get the best out of your performance reviews this year.
Don't leave it to the last minute
It's hard to review and condense an entire year down to a few bullet points in the days leading up to your appraisal. Therefore, make sure you plan in advance by keeping note of any accomplishments throughout the year.
Remember to think outside of the box when it comes to listing achievements: your manager will like to know about any individual achievements which aren't necessarily generic to your role. For example, 'Attended various industry talks on the future of the Lloyd's Market'. What's even better is if you can be more specific: e.g. 'Attended the NGIN Cyber event which had key figures from the industry discussing the future threats facing the market'.
A diverse range of achievements from the whole year will show you have an active interest in your future within the industry as well as also highlighting that you have you take an understanding of the market as a whole and keep updated with current events. Always remember to include CII achievements too!
Set realistic goals
It's difficult to keep track of your achievements if your original goals weren't achievable! Start by creating a realistic timeline of goals for the forthcoming year by quarter, making allowances for holidays and busy periods.
If you feel you want to take on more responsibility, show your manager that you have invested time in showing how your goals will benefit the whole team and not just yourself: e.g. You are a broker and you are desperate to take more responsibility for accounts and have spent a good amount of time understanding the business and supported more experienced brokers on the team. Show your manager how you can help the team by taking some of these accounts off the hands of senior staff and explain how you are going to do it.
Lastly, set a strategy for each quarter of the forthcoming year of what you can achieve and regularly discuss your progress with your manager. If you have achieved all that is expected of you within your six month plan, you will be in a much stronger situation to discuss any progression or pay rise.
Be honest
As well as reeling off your achievements and aspirations, you will be also asked to mention any obstacles you have faced or are currently facing. Use this opportunity to be honest with your manager as this is a invaluable opportunity to get things off your chest.
Honesty works both ways too: if your manager sees any obstructions to your progression you need to take the time to strengthen upon these areas of weakness before discussing any ambitious plans you have for the future.Be sure to write down any suggestions your manager has and act upon them as soon as you can.
When it comes to the awkward conversation of progressing within your team be sure to remember not to just wholly focus on your aspirations and desires to progress; you need to also appreciate you are part of a bigger team. Try to think about your performance from your manager's point of view- instead of focusing on goals such as 'I want to complete my Certificate in Insurance so my CV looks better', hone in on the strengths of completing such a goal from your manager's point of view: How will this benefit the company or your immediate team?
Lastly, remember to set your manager's mind at rest - reaffirm that progression will make you more confident in your abilities at work and that it will not act as a distraction but help you be more focused and confident in your role.
Negotiate smartly
If you are looking to negotiate a promotion or a pay rise, firstly make sure you have followed all the advice above. If you have a clear list of achievements, guided by realistic goals, and you approach the discussion with honesty and empathy, you will be in a strong position for negotiation.
Make it clear what you are looking for, but be flexible. If you manager doesn't have the resources right now to offer you a pay rise, you can express disappointment, but don't throw your toys out the pram. If you continue to impress then you will be first on the list when there's more money in the pot.
If you want some great tips on negotiating skills to help you with this and many other aspects of your career, be sure to register for our negotiation masterclass on 30th March!
Good luck!
It's a well known fact that we 'millennials' are fortunate to be in an era where we have the ability to thrive and innovate - nevertheless we have to remember that experience is something we need to learn from our predecessors and is a vital part of our learning. Don't try to run before you can walk and bear in mind that while being ambitious is a strength, goals must be achievable and should be realistic. Structured planning will always set you in a more confident position than going in completely unprepared.
