Richard comes to you asking for a raise. You think to yourself, what has Richard been doing this past year? You remember the one project that you almost lost due to his mistake, but you also forgot the 2 deals he was crucial in closing. A properly planned out performance review will help you get through this situation.
The purpose of a performance review is to define a clear basis for wage increases, promotions, disciplinary action and other job related issues. By following these tips you will be able to deal with Richard's request for a raise.
· Develop a job description for each position within your firm and update it as a position evolves. Make certain each employee has a clear understanding of what is expected of him.
· Design a standard form for performance reviews that includes a rating system and place for comments. Always date it and make note of all people involved.
· Let the employee know in advance when their review will be in order that they may properly prepare.
· Maintain an employee log through out the year documenting all accomplishments, contributions and mishandled projects.
· Begin with the person's strengths and then tactfully move into any weaknesses. This will avoid the employee becoming defensive and should create a more open dialogue.
· The review should include specific and measurable goals with an action plan on how they can be accomplished.
· Encourage feedback from your employee and make it a two-way conversation.
· Be careful to keep your comments to observable behaviors and not personality traits.
· Conclude the review by summarizing what actions need to be made in the future and re-emphasizing your employee's strengths. End on a positive note.
Remember, Richard as well as your other employees, are your most valuable assets (and one of the most expensive). If they are treated fairly, respected and provided with proper feedback and reviews your efforts will be rewarded by having a successful business. If you need help in handling a performance review please give the professionals at Kunin Associates a call and we would be happy to provide assistance.
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