Often times, those in the management role see annual performance reviews as a process required by HR. Various polls also show that employees don’t find much usefulness in the review process due to their formality and infrequency.
However, there is a great deal of value to be found in taking the initiative to check in and have an honest conversation about your job performance outside of annual, formalized reviews.
The following questions should be asked of the CEO/Ownership group at least once every 24 months, in addition to a formal performance review.
1. What duties, responsibilities and behaviors would you like me (the CFO) to do more of or start doing?
2. What duties, responsibilities and behaviors would you like me (CFO) to continue to do that I am already doing?
3. What duties, responsibilities and or behaviors would you like me (CFO) to do less of?
Although each of these questions are very straightforward, remember that once your CEO answers these questions in terms of what he or she would like to see, you should also answer these same questions in terms of what you (as the CFO) want to do more of, continue to do, and do less of. Wait until your CEO provides clear, meaningful feedback on the above before sharing your answers. This will allow you then to discuss where you agree, where you see things differently, and why.
Once you review answers from the CEO/Owner, and agree on your role or any future changes, you should request of them what you need to help facilitate these changes or improve your performance effectiveness. This could include:
- Improved communications in specific areas
- Training or seminars in selected areas
- Additional people resources (be specific)
- Or simply additional support from specific people