The economy is growing at a remarkable 9%. Profiting from this boom are the salaried professionals. Faced with acute shortage of talent, employers have been doling out fat salary hikes for the past two years. Employee expectations are high this year too. According to the seventh annual Asia-Pacific Salary Increase Survey conducted by Hewitt Associates, a global human resources services company, wages across India’s manufacturing and services sectors are expected to rise 12.3-15% in 2007.
The 13.8% increase in salaries in India last year was lower than the 14.1% hike that employers doled out in 2005. Yet it was the highest among Asian countries. Market forces alone cannot ensure hefty increments year after year. Individual performance is the best guarantor for rewarding pay hike. According to the study, companies increased variable payout in 2006 to 14.9% of their payroll, up from 14.5% in 2005. It is quite likely that only star performers may get the best hikes. Here is a test to help you understand how you may be rated according to your performance levels.
Scoring on performance
Congratulations! You can smile your way to the bank! You have delivered beyond your targets with full passion and action. However— the buzzword for you in the coming year is sustainability and the mantra is PQR—productivity, quality and relationship. You exude tremendous energy in your performance by achieving high results. And you are willing to take risks and stretch your productivity in the coming year too. Expect a quantum growth in your role this year, which needs to be sustained. With a clear line of sight, you will move up the success ladder, manage teams and achieve higher targets. But what you need to ensure is that quality and relationships are kept in the right perspective too. Focus on them. Continuous high service quality can only be achieved when you meet your commitments. Relationships will be the highlight in your new role this year because of faster growth (remember 80% of your peers are not up there with you). Play the role of a leader in whatever you do. Inspire people around you and recognise the performance of others. Your scorecard emphasises the need to create a positive atmosphere for the people you work with.
It is always said that exceptional catches win matches! You have been able to achieve your targets; but in order to win the match, you need to go beyond the rule book. And now is the time to unveil your potential and mobilise your resources to perform like a leader. An alignment between your efforts and the team’s objectives will help you in delivering better results. Highlight your achievements and appreciation will follow soon. You need to take the next step now and move ahead from teamship to leadership. As a team player you have been supportive in all your endeavours, but now you need to have the “eye of the tiger’ and emerge as the leader. The scoreboard for you to carry the bat till the end asks you to adopt the following strategies. Consistency is the key.
Analyse your performance regularly with your seniors—this will keep you motivated and ensure you carry on with the spirited attitude in the right direction.
Now is the time to seriously review your performance, not just for career growth but also for the much needed salary hike. This year you may not strike gold. There is scope for much improvement. You need to review your deliverables against your objectives in consultation with your manager. There is a visible gap. Focus on productivity, quality and relationships. These are the three evergreens of performance that will never become outdated. These should be the three pillars of your goal plan too.
Your productivity is low. Question your abilities and capabilities— and fine tune it with the requisite competencies to perform. The work process itself can be unclear—make efforts to clarify this. Disengage yourself from other preoccupations and focus on your targets with your heart and mind. Are you well organised? That’s the crux of most of your problems.
