Phase 3 Training
2024-2025 Annual Performance Reviews Phase 3
Overview
Focus on delivering comprehensive performance reviews and thoughtful compensation decisions at INARI MEDICAL®. The review process is a critical mechanism to assess employee achievements, set clear expectations for future performance, and ensure fair compensation.
Page 1: Title
The presentation serves as a detailed outline of the process for conducting performance reviews and making compensation decisions, emphasizing clarity, consistency, and communication.
Page 2: Agenda
Key topics include:
Performance Review Cycle Timeline (updated): A visual representation of key dates and milestones throughout the review cycle.
How to Deliver Feedback and Compensation Decisions: Strategy for effectively communicating outcomes to employees.
Best Practices for Effective Delivery: Guidelines to ensure productive conversations.
Suggestions and Considerations for Leaders: Important insights for leaders to enhance the review process.
Common Scenarios for Discussion: Examples of typical employee concerns and how to address them.
Looking Forward to Goal Setting: Setting up expectations for the upcoming year.
Workday Live Demo: A practical demonstration of the Workday tools used for performance review acknowledgment and accessing compensation statements.
Page 3: Phased Training Schedule
Training Schedule
Phase 1 Training: Nov 7 – 13, 2024
Focuses on performance review preparation and completion, ensuring leaders are equipped to assess and discuss employee performance adequately.
Phase 1.5 Training: Nov 18 – 22, 2024
Continues training on employee self-evaluation, fostering self-awareness and improvement among staff.
Phase 2 Training: Jan 14, 2025
Centers on compensation planning, focusing particularly on leadership roles and their unique requirements.
Phase 3 Training: Jan 23, 2025
Provides instruction on delivering reviews and feedback, with techniques for navigating challenging conversations effectively.
Page 4: Performance Review and Compensation Timeline
Updated Timeline for Annual Performance Review
January 15: Launch of the compensation planning tool in Workday, allowing leaders to start the compensation decision-making process.
January 27-31: People leaders deliver reviews and compensation decisions to employees in structured sessions.
February 3: Effective date for merit increases, aligning raises with performance outcomes.
February 7: Bonuses are paid out, reinforcing the correlation between performance and reward.
Ongoing: Employees complete self-evaluations and leaders finalize performance reviews, ensuring a comprehensive feedback loop.
Page 5: Workday Process Overview
Overview of Workday Steps
Steps for People Leaders include:
Delivering performance reviews from Jan 27-31, ensuring clarity and consistency.
Detailed outlining of tasks in Workday to facilitate an efficient review process, including tracking, documentation, and follow-up actions.
Page 6: Delivering Performance Feedback
Key Components
Emphasis on clear communication of feedback and compensation decisions, fostering transparency and understanding.
Creation of a supportive environment where employees feel comfortable receiving constructive feedback.
Page 7: Best Practices for Feedback Delivery
Preparation
Thoroughly review compensation decisions and consult with leadership to ensure alignment and fairness.
Setting the Right Tone
Choose a quiet, private environment and allocate sufficient time for discussion to promote thoughtful dialogue.
Conversation Flow
Discuss Goals: Clear articulation of expectations and future objectives.
Provide Feedback: Use established feedback models to structure conversations effectively.
Explain Compensation Decisions: Be transparent about how decisions were derived based on established metrics and performance categories.
Tips for Difficult Conversations
Schedule tough conversations later in the day; this allows individuals to process information with minimal immediate distractions.
Rehearse potential scenarios and responses beforehand to ensure confidence during discussions.
Page 8: SBI Feedback Model
Components of Feedback
Situation: Describe the context of the behavior observed.
Behavior: Clearly articulate the action taken, avoiding judgment to maintain objectivity.
Impact: Discuss the positive or negative effects the behavior had on team dynamics and outcomes, facilitating a deeper understanding.
Page 9: Performance Categories
Categorizing Employees
High Performer: Recognized for exceptional contributions, often exceeding expectations and driving team success.
Meeting Expectations: Employees who meet performance standards but may have areas for improvement.
Inconsistent Performer: Individuals needing clarity on performance goals, with a focus on growth and development plans.
Page 10: Potential Scenarios for Employees
Common Employee Concerns
Acknowledge that disagreements with performance reviews may arise; handle these discussions with care and openness.
Clarify that bonuses and merit increases are directly influenced by performance levels rather than tenure, reinforcing a meritocratic approach.
Page 11: More Employee Queries
Handling Employee Questions
Proactively address misconceptions regarding merit targets and the calculation methods for bonuses, enhancing trust in the process.
Page 12: Looking Forward - Goal Setting
Setting Future Goals
Adopts a collaborative approach, utilizing the SMART (Specific, Measurable, Achievable, Relevant, Time-bound) criteria to set future goals.
Clearly outline performance expectations and development plans that align with organizational targets.
Page 13: Resources Available
Additional Support
Resources available on Purple Planet include:
Detailed presentation slides for reference.
Recordings of training sessions for review.
Job aids for navigating Workday functionalities.
A template for Individual Development Plans to support employee growth trajectories.
Page 14: Workday Live Demo
Live Demonstration
Overview and instructions for using Workday features, ensuring leaders are confident in leveraging the software during performance reviews.This training will highlight the importance of using data effectively to inform discussions and outcomes in performance management processes.