Most businesses review their progress on a yearly basis and publish or print an annual report – the status of the business – for the past year. They also go through a formal planning process and create formal plans for the future. You need to treat your career as a business: with annual reviews and formal planning.

Once a year you can evaluate your career progress using the following criteria. Evaluate each area on a scale of 1 (awful) to 5 (fantastic). Assess the weak spots (scored 3 or less) in your career and plan a course of action for growth management and improvement and where you need to develop action plans to improvement your career and its future potential.

_____ MY INDUSTRY: Is this a growth industry or is it a shrinking industry? Do some homework on the company, competitors and industry. Know where your company ranks in the marketplace. Also, is this an industry you want to be in?

_____ MY COMPANY: Is this a company doing well and is it a stable long-term player? Is this a company going through some challenging times and you are learning something new every day at work? It is important to feel good about the company you work for – you should feel proud to say you work for them – whether it is a stable environment or a challenging one is OK as long as you are learning and feeling good about working there. Is the company liable to be acquired or split up in the short-term? Do you hear and read good things about the company?

_____ MY CURRENT POSITION: Is it challenging and forcing you to develop new skills? Do you get to step out of my comfort zone? Is your boss someone you can learn from? Could s/he be a mentor? Will this position help your career marketability?

_____ JOB ENJOYMENT: Is it fun to come to work every day? Do you really enjoy the work you are doing? Do you dread the beginning of each day and/or week?

_____ GROWTH POTENTIAL: Specifically what position do you think you can be promoted to, in how many months, etc? Where are you going and do you want to go there? What is the record of accomplishment of the previous people in your position? Does that meet your own growth expectations?

_____ CHEMISTRY: Do you really enjoy this environment? Do you ‘fit’ in well with the group of, people you work with? Do you have a mentor who is assisting you with your career (can be inside or outside your company)? What is the Method of Operation (MO) of Senior Management? Do you agree with their MO?

_____ GEOGRAPHIC IMPACT: As you predict your growth with your company, what will be the relocation requirements for you and your family in the future? Does this fit with your career plans and your family plans? (It is helpful to be flexible to relocate; especially early in your career) In today’s global environment, career growth may depend on relocation for a period of time.

_____ SPOUCE’S CAREER: Does your career and your spouse’s complement each other, or will one of you have to make a sacrifice for the other? If considering relocation, can my spouse find a comparable position?

_____ COMPENSATION: Will your compensation growth enable you to enjoy the lifestyle you are looking for? Will you be losing ground in the future? (This should be a lower priority, especially earlier in your career)

Your career is your “business”. Manage your business well, provide proper growth management and make improvements when necessary. Review your progress at least annually and plan for the future – your future.