3 Tips For Your Next Performance Review

And How To Secure a Merit Increase

Most people consider their performance reviews as routine.

And then wonder why they didn’t get any raise or at the level they were expecting.

But YOU are not one of them.

You know your worth and the importance of coming prepared to secure whatever you want.

How else would it be? you’re a reader of my newsletter!

So here’s a quick guide I put together that will help you nail your next performance review and get the merit increase you deserve:

Preparing for the Review

Clarity of thoughts drives clarity of actions.

Start by reviewing your goals from the previous period and make a draft list of all your accomplishments throughout the year.

Run a 360 self-evaluation, identify areas of improvement, and set new goals for the period ahead.

This will be your guideline throughout the discussion with your boss.

So far so good.

Now, let’s on to the next step:

Business Impact

As Shirley Chapman, Head of CS at Forrester said in one of my previous interviews, CS has to show that “what we do drives renewals” to have a seat at the exec table:

Shirley Chapman, Head Of Customer Success, Forrester

So, focus on the impact of your work and how it contributed to the company's bottom line.

Be ready to discuss the direct economic outcomes of your actions on the company's profits.

Quantify them as much as you can by using data and being specific.

For example, if you've improved customer retention, provide the percentage increase and the resulting impact on revenue like MRR or ARR.

Focus on your performance metrics and KPIs like churn rate or customer satisfaction score.

Here are some other evidence you can collect in support of your performance review discussion:

• Customer Feedback and Testimonials

  Gather every single positive comment or review and highlight your impact on the business.

• Customer-Centric Behavior

  Document instances where you have gone beyond expectations to help customers or explored options and provided solutions until the customer was satisfied and, more importantly, successful.

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  7 Biggest Mistakes People Make in Customer Success

• Feedback from Colleagues and Managers

  Collect feedback from team members, colleagues, managers, and other departments to provide a full view of your performance.

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  Highlight any training you’ve completed or new skills you have learned and why that matters for your goals and the business.

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  Be prepared to discuss how you have managed to adjust to challenges.

• Use a Journal or AI to Track Achievements

  Consider keeping a journal or using the Notes app on your mobile. Even better, use a voice recorder to track your accomplishments on the go.

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  Do not trust your memory: write everything down right on the spot whenever the idea strikes.

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  The AI tools I mentioned in the AI Hub section of my newsletter will be helpful:

  Boost Your Success with AI: Practical Insights

So, now that you set the foundations solid with real and practical evidence, bring in your negotiation skills to nail and secure your next merit increase:

Negotiation Strategies

Know your worth

Before your meeting, research the market rate for your role, skills, and experience and set realistic expectations. Do not overball this or it can backfire.

Here are some tips that can help:

• Identify Relevant Skills

  List your relevant skills, including both hard skills (technical, language, software) and soft skills (communication, leadership, problem-solving)

• Use Online Tools

  Utilize online tools such as Payscale, Glassdoor, and Salary.com to gather salary projections based on job title, location, and experience.

• Network

  Talk to people in your industry and location about the market value of your skills and experience. LinkedIn is best for this.

  17 Powerful Networking Secrets for Conferences [Part 1]

• Industry Reports

  Look for industry reports and job boards that provide salary data for your specific role and location.

• Research Competitors

  Get a sense of the average salary for your role.

• Prepare Your Arguments With Data

  No bla-bla. Only the facts.

Be confident and respectful

In all and any circumstances. No exception.

Present your case and ask for what you want, but remain open to negotiation and compromise.

Be prepared for pushback

The answer to your ask can be no.

So, be ready to address any concerns or objections your boss may have.

Don’t Forget To Follow-up

If your annual review doesn't result in an immediate raise, ask your manager for the best time to have a follow-up discussion.

Use ChatGPT to Practice Your Pitch

7 Steps to Negotiate Your Next Raise with ChatGPT

Common Mistakes To Avoid When Negotiating A Raise

• Do not undervalue your work

  Be self-confident.

  You did an excellent job so you have all the right to ask for a raise based on the market rate for your role, skills, and experience.

• It’s not just about collecting evidence

  Be ready on a psychological level to nail the negotiation

  7 Psychology Principles To Master Customer Success

• Stay professional or you’ll lose all the credits you’ve earned in seconds.

• Do not ignore your gut feelings:

  5 Common Mistakes Great Customer Success Managers Never Make

• Do not monopolize the conversation

  Take a step back, and listen to what your boss has to say. They might bring up a topic you didn’t realize it mattered.

• If a raise is not possible at all, do not forget to negotiate for other company benefits or opportunities.

Overall, if you fail to present a strong case for your value to the organization, there is no point in asking for anything.

Finally, if I had to give you only one single piece of advice for your career growth, it would be this:

And voilà!

I hope that helps.

Now, go get that next pay raise you deserve!

Come on, you’ve got this 🚀🚀

-Hakan.