Preparing for Your First Annual Performance Review As an Executive was originally published on Ivy Exec.
Preparing for your first annual performance review can feel stressful, especially in your first year as an executive. You’ve probably already felt the pressures and responsibilities of an executive role and are wondering if you did a good job.
Luckily, the review process will allow you to reflect on the past year, see where you’ve succeeded, and the goals you met. It lets you celebrate growth and address any shortcomings affecting your executive career.
If you’re wondering how to prepare for your first review as a top leader, we’ve prepared a detailed guide. Continue reading to be more strategic and know what to expect during the process.
☑ Reflect on the Past Year’s Achievements
Reflecting on your accomplishments reminds you of your strengths and allows you to explain them to your appraiser.
When preparing for your performance review, think of the projects you led successfully. Besides, list different scenarios where you helped the company overcome problems and reach its goals.
Instead of just saying you improved your team’s performance, you should use figures. For example, you could mention you boosted productivity by 15% in nine months.
Using numbers will provide concrete results and make your achievements stand out. It paints a clear picture of your contribution to the company for your appraiser to review.
☑ Think About the Areas You Should Improve
Recognizing your professional weaknesses is the first step towards working on them to be a better executive. When preparing for your review, consider improvement areas and identify growth opportunities.
As you assess your performance, try to be as specific as possible. Instead of saying you could improve communication skills, identify specific parts that need work. For example, you may note you haven’t always given your team clear instructions, often causing them to deliver work late or make mistakes.
Once you list the limitations, devise a detailed plan to address them. For example, you could commit to giving more instructions and encouraging your team to reach out with questions.
A plan to address your faults will show your reviewer you’re proactive. It proves you understand your weaknesses and are willing to improve and be an effective leader.
☑ Ask Your Team for Feedback
Getting input from the people you lead can provide more insights into your performance. It also helps you understand how your actions impact those around you in ways you might not have noticed.
Approach your team members with a genuine interest in their thoughts. Additionally, let them know you’re open to positive and constructive feedback on your leadership style. While you may feel vulnerable and anxious about the responses, the goal is to get genuine information.
Your team may be unsure about what information you are looking for, so you should prepare some questions such as:
- How can I support you better?
- Are there specific areas you think I should improve on?
- What aspects of my leadership do you like and dislike?
- Do you think I should change my leadership style to suit our team?
Some employees may be skeptical about giving their boss feedback due to previous bad experiences. Encourage your team to be open and channel where everyone can discreetly provide input.
Taking feedback from your team and using it to improve reflects humility and a willingness to learn. It can also strengthen trust and respect in the workplace.
☑ Set Clear Goals for the Next Year
As an executive, your goals should be deeply rooted in your duties and guided by the company’s goals. When prepping for your review, set clear goals and break them into three categories. These include:
- Personal development goals
- Team development goals
- Business goals
Personal development goals should revolve around what you want to achieve based on your core duties. Think about the skills you want to gain or sharpen to be more competent. Further, determine if there are any leadership qualities you’d like to hone based on your assessment or team’s input.
If you noticed you had difficulty doing some of your duties, your goals should include ways to address such issues.
For example, you could plan to take a refresher course or workshop to learn from industry leaders. Joining a reverse mentorship program could also be part of your goals if you want to learn some skills from your team.
Team development goals should include tactics to inspire and make your workers more creative. If, for example, you realize some employees don’t like collaborating, you could find ways to fight unhealthy competition. You may also consider pairing them with peers who match their interests and personalities.
Team development goals could also include aspects like:
- Encouraging cross-training
- Improving team communication
- Promoting accountability
- Encouraging professional growth
Executives must consider how their personal and team goals affect the company. When setting targets, ensure they contribute to brand growth and improve the bottom line. You should also identify ways to make the company more innovative and competitive.
☑ Stay Open-minded and Manage Your Emotions
Even with the best preparation, performance reviews can trigger you and cause you to be defensive. While feeling protective of your work and accomplishments is natural, you shouldn’t let it cause conflict.
Keep an open mind and remind yourself that feedback will help you grow, and it doesn’t necessarily define you as a person or leader. If you receive criticism, take a deep breath instead of responding instantly. Doing so will give you time to absorb the information and respond thoughtfully.
While most people love positive feedback and know how to embrace it, it can also be tough to accept if you tend to downplay achievements. Be proud of your work, and always remember celebrating successes is as vital as learning from your career mistakes.
Ace Your First Executive Performance Review
Preparing for your first performance review as an executive will be quite different from what you’re used to. You must consider how your leadership impacts other employees and take accountability for your team.
Ace your first review by reflecting on your main achievements and quantifying them. Likewise, have a solid plan for addressing your weaknesses, then set clear personal and team goals for the coming year. By taking these steps, you’ll turn a process many professionals dread into an insightful and valuable experience.
