In our earlier conversation [Part II] we introspected and discovered that appraisal, in reality, is a very simple and straight forward activity - ONLY if we choose to keep it that way.
We know that appraisal is correlated with pay hikes, increments, bonus, promotions. So in this section we will try to inspect the key factors that could and does affect these numbers or the final outcome.
Outcome can be in terms of the actual rating/ranking you get, along with the other good news we all are keen to hear -- the revised offer letter.
So the key factors that largely affect the numbers = market condition and forecast, organization profit, your project(s) performance and finally your performance.
Ah! it is not only about revenue earned, it is also about cost saved. There are many examples where organizations profit numbers have looked more handsome, by sensible cost savings. There are many other factors as well, but I hope you get the gist of the story.
Here is a simple chart devised to effectively calculate performance. Do add as much SPICE as possible to make it more stringent (better for you)!
Finally...
If you want to get good or better ratings year after year, then simply continue to perform relentlessly.
One important point, as you take (or are given) new responsibilities, you are expected to learn many new things along the way, and if you are unable to cope well, then your ratings are likely to dip - Consider this as the time to adapt to next level.
Also as you move up the chain the % hike is likely to reduce over period of time. Interestingly as you move up the chain you are expected to own more risks, so there is a likely hood that you get a promotion but your overall take home salary has reduced - Consider this as cost of growth.
And if you wish to compare your hike with other members, please do it in totality, and don't forget the "correction" piece, and keep it to your organization (don't compare apples with oranges) and be fair. AND the last thing, why compare with others - it would not take you anywhere.
Finally, if you are really really good, appropriate care is guaranteed - No organization like to loose good people!
We know that appraisal is correlated with pay hikes, increments, bonus, promotions. So in this section we will try to inspect the key factors that could and does affect these numbers or the final outcome.
Outcome can be in terms of the actual rating/ranking you get, along with the other good news we all are keen to hear -- the revised offer letter.
So the key factors that largely affect the numbers = market condition and forecast, organization profit, your project(s) performance and finally your performance.
Ah! it is not only about revenue earned, it is also about cost saved. There are many examples where organizations profit numbers have looked more handsome, by sensible cost savings. There are many other factors as well, but I hope you get the gist of the story.
Here is a simple chart devised to effectively calculate performance. Do add as much SPICE as possible to make it more stringent (better for you)!
If you want to get good or better ratings year after year, then simply continue to perform relentlessly.
One important point, as you take (or are given) new responsibilities, you are expected to learn many new things along the way, and if you are unable to cope well, then your ratings are likely to dip - Consider this as the time to adapt to next level.
Also as you move up the chain the % hike is likely to reduce over period of time. Interestingly as you move up the chain you are expected to own more risks, so there is a likely hood that you get a promotion but your overall take home salary has reduced - Consider this as cost of growth.
And if you wish to compare your hike with other members, please do it in totality, and don't forget the "correction" piece, and keep it to your organization (don't compare apples with oranges) and be fair. AND the last thing, why compare with others - it would not take you anywhere.
Finally, if you are really really good, appropriate care is guaranteed - No organization like to loose good people!
No comments:
Post a Comment