Mashable's latest #BizChats Twitter chat focused on a subject we have all thought about: how to receive the promotion you deserve.
[seealso slug="get-promotion"]
Over the course of an hour, @MashBusiness covered an array of topics ranging from the questions employees should ask in yearly review meetings, to the metrics professionals should also take into consideration when tracking successes.
Several negotiation experts joined us in the conversation including: Amanda Abella, online business coach, millennial money expert, & author of Make Money Your Honey; Gerry Spratt, deputy director of content at Nerd Wallet; Karyne Levy, editor at Nerd Wallet; Kathleen O' Celmins, writer, blogger & managing partner at Stacking Benjamins, LLC; Katie Donovan, founder of Equal Pay Negotiations, LLC; Sallie Krawcheck, CEO & co-founder of Ellevest; and Victoria Pynchon, negotiation consultant, author, & trainer at She Negotiates.
Check out highlights from our chat in the Storify, below:
[View the story "#BizChats: How to navigate yearly reviews and promotions " on Storify]#BizChats: How to navigate yearly reviews and promotions Mashable hosted a Twitter chat, to discuss how professionals can tackle yearly reviews, promotions and everything in between. Storified by Mashable· Wed, Feb 24 2016 20:22:21
Many professionals love the idea of getting promoted, but they don't know what it takes to receive one. A promotion means more than just clocking another year at your company. You have to earn your way up the corporate ladder.
Believe it or not, emotional intelligence plays a big part into getting the promotion you deserve. You have to believe in yourself before your supervisor ever will. No one wants to be overworked, overlooked and underpaid. Growing into an irreplaceable employee is a 24/7 task. You have to be on your A game at all times.
@mashbusiness and several negotiation experts participated in a #BizChats Twitter chat, to discuss how to raise the stakes for your next promotion. Welcome to #BizChats! Today we’re discussing how to tackle yearly reviews, promotions & everything in between. Please introduce yourselves!Mashable BusinessA warm welcome to our experts: @amandaabella, @gspratt76, @karynelevy, @kathleencelmins, @kdsalarycoach, @VickiePynchon, (cont.) #BizChatsMashable Business& @SallieKrawcheck! #BizChatsMashable Business#BizChats tip: Be sure to number your answers according to the question you're answering. (ie., Q1.--> A1., Q2. --> A2., Q3. --> A3.)Mashable BusinessQuestion 1:Q1. What steps can you make to set yourself up for advancement in your current job or your future career path? #BizChatsMashable Business@mashbusiness A1: Have a clear understanding of what skills/education that career req's. Take steps to obtain. #BizChatsJennifer BakerA1. Eagerly volunteer for opportunities outside your core job or working cross-functionally with other teams. Be visible. #BizChatsGerry SprattA1. Take notes on what you're doing, especially metrics. You'll use those to get to the next level in negotiations. #bizchatsKathleen O' CelminsA1. Keep track of everything you do, including team wins and even stuff you're doing off hours. #BizChatsKaryne LevyA1. Solid examples of how you are going above and beyond your job will help when you and your boss have "the talk." #BizChatsKaryne LevyA1. Also, do NOT turn things in before the deadline. That'll just show you need more work.
#bizchatsKathleen O' Celmins#BizChats Q1.--> A1 Know the power people and align your goals with theirsVictoria PynchonA1: Build a personal brand and establish your expertise in a given area. People want subject matter expert not jack of all trades. #BizChatsAmanda Abella#BizChats A1 I’ve found nothing beats hard work, continuing to learn, asking for the extra assignment.Sallie Krawcheck.@mashbusiness A1: Always do your job well, but make sure the higher-ups are AWARE of your awesomeness. Self-promotion/praise #BizChatsElizabeth DickersonA1: Let people know you are happy but open to the next challenge. #BizChatsKatie DonovanA1. Speak up. Your manager might not know you have bandwidth or that you’re interested in adding to what’s on your plate. #BizChatsGerry Spratt#BizChats Q1.--> A1 If you accomplished something individually, let the power people who have your back knowVictoria Pynchon#BizChats Q1.--> A1Be on the committees that control management and money (not the "soft" people teams)Victoria Pynchon#BizChats A1 Setting the expectations w/ your boss of sales goals, deadlines etc. gives you something to aim for…and achieve.Sallie Krawcheck#BizChats A1 In particular, if you can quantify success with your boss, all the better.Sallie KrawcheckA1: When higher-ups ask “how’s things” share work news like closed the deal, fixed a problem, or saved money. #BizChatsKatie DonovanA1 Steps to road mapping your career
1) Branding (your name is the brand)
2) Acquire Specialized Knowledge
3) Network
4) Persevere
#BizChatsBrenden Dilley@mashbusiness A1: Stay ahead of your industry and network -- take courses, go to networking events and continue learning #BizChatsSyed Kashif AliQuestion 2:Q2. What benefits should any professional consider beyond compensation? #BizChatsMashable BusinessA2. Traditional ones: 401(k) matching, health coverage, life insurance, paid leave, etc. But there’s a lot more to think about. #BizChatsGerry Spratt#BizChats A2 There is much more to a successful career than simply compensation: new experiences, overseas assignments...Sallie Krawcheck#BizChats A2 So be clear on what you value and negotiate for that. Perhaps it’s working remotely. Or getting on a certain project.Sallie KrawcheckA2. In competitive markets, look for perks like catered lunches and subsidies for cell phone, gym membership and transportation. #BizChatsGerry SprattA2. Consider any benefits as part of total compensation so you know what they're worth. #bizchatsKathleen O' CelminsA2. Sometimes benefits outweigh compensation. Health insurance, 401k contributions and vacation time all matter. #BizChatsAmanda AbellaA2. Remember that stock options can often be negotiated, even if your salary can’t. #BizChatsKaryne LevyA2 -> Career path part of first conversation and should be followed up with your internal sponsors & mentors - it's part of comp #BizChatsVictoria PynchonA2. I was once told that "wearing jeans" was a benefit at a job I took. That's not a benefit. It's pants. #bizchatsKathleen O' CelminsA2 Also, see if they have tuition reimbursement should you want to go back to school. That is so valuable. #BizChatsAmanda Abella@mashbusiness A2: Vacation, medical, disability, 401k contribution #BizChatsDebbi KingA2 #BizChats If salary compression or salary band in a problem for onboarding, talk equity, signing bonus, early review, next title upVictoria PynchonA2: Career coach, telecommuting, flex time, sabbatical #BizChatsKatie Donovan@mashbusiness A2: Vacation, medical, disability, 401k contribution #BizChatsDebbi King#BizChat A2 And in world of no HR fairy godmother, it’s up to each of us to map out the career we want to have.Sallie KrawcheckA2 #BizChats Super important; women AND men -> maternity & paternity benefits even if you're years from parenthood https://t.co/SETYR5WYOFVictoria PynchonA2: Success resources like membership to professional orgs, attendance to conferences, access to key people, budget, personnel #BizChatsKatie DonovanA2: @mashbusiness Quality of co-workers, time off, family leave #BizchatsIdeonA2. Professional development opportunities are VERY important. Always have an insatiable desire to learn & you'll never be bored. #BizChatsKritika Kulshrestha.A2: You can get paid anywhere, but you can't always LEARN anywhere. Consider pay as well as growth opportunity for experience #BizChatsElizabeth Dickersona2 beyond salary, other benefits may be training, flex work, travel, secondment, time off, gadgets ... so many #bizchatsPay ComplimentQuestion 3:Q3. What metrics should a professional take into consideration when looking to track previous, current and future successes? #BizChatsMashable BusinessA3. COMPLETELY depends on your field. I measure traffic growth because I focus on internet marketing. #bizchatsKathleen O' Celmins#BizChats A3 Be sure to get clear with your boss on the metrics (s)he cares about. Those are the ones you should care about, too.Sallie KrawcheckA3 #BizChats - focus on objective rather than subjective success metrics (bias creeps in on subjective metrics)Victoria PynchonA3. Anything you can measure with numbers. Did you save a company money? Did you make them money? Did you increase productivity?#BizChatsAmanda AbellaA3. No matter what, assess the baseline when you started, and track metrics monthly.
#bizchatsKathleen O' CelminsA3 #BizChats Are you driving revenue? how much; know it and track itVictoria PynchonA3: ROI is always important, and if you can show it you'll create credibility beyond the initial success you've contributed. #BizChatsAshley TerryA3 #BizChats Are you saving money? You're driving profits. Monetize your value to the organizationVictoria PynchonA3 #BizChats Are you a team player? What has your team accomplished that they couldn't achieve without you?Victoria PynchonA3 #BizChats Are you a change agent? An engaged employee who is engaging the disengaged - you drive them, their work your metricVictoria PynchonA3 #BizChats Numbers are magic. Business BELIEVES in numbers. They're objective but can be manipulated in your favor https://t.co/ZQPfSXYCVZVictoria Pynchon#BizChats A3 Results matter. Did you make budget? Did you ship on time? Was your work excellent?Sallie KrawcheckQuestion 4:Q4. What questions should be asked in a yearly review? #BizChatsMashable BusinessA4. Where can I make the biggest impact next year? #bizchatsKathleen O' Celmins#BizChats A4 Always, always ask, “What can I be doing better?” in your annual review.Sallie KrawcheckA4. Where are the biggest gaps in my performance and how can I address them? How can the company help me? #BizChatsGerry SprattA4. Where do you see my career going with this company? You'll find a lot in your manager's response. #bizchatsKathleen O' Celmins#BizChats A4 And don’t just ask your boss. At @ellevest I always ask “What can I be doing better?” of my directs. You can learn a lot.Sallie KrawcheckA4 What did you enjoy about position? What improvements are needed? #BizChatsJamie Y-M, SPHR@mashbusiness A4) It's super important to take the temperature of the workforce. Ask about morale, improvements, criticisms. #BizChatsHeadway#BizChats A4 Ask about the business priorities for the next 6 and 12 months. Don’t assume they just remain the same.Sallie Krawcheck@mashbusiness A4: What approaches are hitting the mark in terms of achieving goals, and which ones should be nixed moving forward. #BizChatsYelling Mule@mashbusiness A4: What can I do to improve? How can I be a better team player? Always look to improve #bizchatsDebbi KingA4: How does my work impact the company’s, the department’s, or your goals? How can I do better? #BizChatsKatie DonovanA4. Where is the team underperforming as a whole? How can I help team leaders address those failures? #BizChatsGerry SprattQ4 Is there something management/organisation could do that would help you in your job? @mashbusiness #BizChatsCrystal FroeseQ4. What questions should be asked in a yearly review? #BizChats What's my reputation for excellence? for "needs to improve"? How best fix?Victoria Pynchon@mashbusiness A4: Always review your companies goals, and ask if you have achieved what you wanted. #BizChatsPetter PaulsenA4. How can I make your job easier? Company is concerned about what you can do for them. #BizChatsAmanda AbellaA4: What do you want me to do more of? What do you want me to stop doing? #BizChatsKatie DonovanQ4 Is there something management/organisation could do that would help you in your job? @mashbusiness #BizChatsCrystal FroeseQ4. What questions should be asked in a yearly review? #BizChats What's my reputation for excellence? for "needs to improve"? How best fix?Victoria Pynchon@mashbusiness A4: Always review your companies goals, and ask if you have achieved what you wanted. #BizChatsPetter PaulsenA4. How can I make your job easier? Company is concerned about what you can do for them. #BizChatsAmanda AbellaA4: What do you want me to do more of? What do you want me to stop doing? #BizChatsKatie Donovan@mashbusiness A4: Personal achievements (education), future goals & aspirations. #BizChatsJennifer Baker#PersonalDevelopment #Stratergy #BizChats https://t.co/Jpm7XHmJ9BGethatJobQuestion 5:Q5. How often should an employee be discussing growth and development with their supervisor and why? #BizChatsMashable BusinessA5. It's easy to become stagnated. I'd say check in on a monthly basis with your supervisor. This ensures accountability. #bizchatsKritika KulshresthaA5 #BizChats Always have your eye on the next level of opportunity and discuss often (but not so often you're annoying)Victoria PynchonA5: At least monthly, certainly no less than quarterly. Growth & development benefit the business just as much as the employee. #BizChatsAshley TerryA5. So set expectations at the beginning of your relationship, because if you don't, you might end up looking needy. #bizchatsKathleen O' CelminsA5. It depends on the company and what the policy is. I personally do team meetings monthly to review this. #BizChatsAmanda Abella#BizChat A5 I’ve always said that I like to “surprise” my boss into giving me feedback. Feedback on the fly can be very valuable.Sallie KrawcheckA5. If you’re discussing it for the first time in your formal review, you’re doing it wrong. #BizChatsGerry SprattA5. #BizChats Have a theme and relate your performance and desire for promotion in that theme; drive revenue; engage others, thought leaderVictoria Pynchon@mashbusiness A5: Quarterly, or at least bi-annually. Companies are always evolving, so growth & dev should be reassessed often. #BizChatsYelling Mule.@mashbusiness A5: More employee/boss communication = More + faster results on both ends. #BizChatsElizabeth Dickerson#BizChat A5 Asking for feedback often can be particularly valuable for women, as we tend to get less feedback than the guys.Sallie KrawcheckA5. #BizChats Every conversation with your supervisor should be ultimately relateable to your career pathVictoria PynchonA5 discuss personal development any time you complete you last development action, feel underutilized or get stuck on a task #bizchatsPay ComplimentA5: Discussing does not mean meeting. It can be one line about wanting to attend a conference because you’d gain from it. #BizChats.Katie DonovanQuestion 6:Q6. What tools, apps, products are good to use when determining your market value in your field? #BizChatsMashable BusinessA6. Glassdoor can give you a ballpark idea for what other people in your field are making. #BizChatsKaryne LevyA6. If you're in a job and you think you're underpaid, apply for a similar job at a different company. That'll tell you mkt value. #bizchatsKathleen O' CelminsA6. Bureau of Labor Statistics, https://t.co/rSUcbaYmap, PayScale are good, in addition to Glassdoor. #BizChats.Gerry Spratt#BizChat A6 There are lots of salary calculators online that you can use to find ballpark figures. Try a few and see what you come up with.Sallie Krawcheck#BizChat A6 There are lots of salary calculators online that you can use to find ballpark figures. Try a few and see what you come up with.Sallie KrawcheckA6. @linkedin is great for finding out this sort of information. #BizChatsAmanda AbellaA6. Good old fashioned networking goes a long way as well. Talk to people who are where you want to be and ask them. #BizChatsAmanda AbellaA6: Glassdoor is a great place to compare salaries/skills/jobs + check out employee reviews of the company!#BizChats https://t.co/juYuu8qJUlElizabeth Dickerson#BizChat A6 If you're lucky enough to have a great mentor, of course talk about your market value with that person!Sallie KrawcheckA6: Headhunters are a great resource when you are staying in the same market and job. #BizChatsKatie DonovanA.6 #BizChats https://t.co/mbzAa2Fij9, https://t.co/LAZDpXEVl6, https://t.co/dB0hDYEN01, online reports by consulting firms that advice ErsVictoria PynchonA6. Be careful with Glassdoor, though. It’s can be an anonymous sounding board for people with an ax to grind. #BizChatsGerry SprattA6: Headhunters are a great resource when you are staying in the same market and job. #BizChatsKatie DonovanQ6. Take a look at https://t.co/GiPvUY4rOy great place to benchmark your social customer care peformance against your competitors. #BizChatsDean McCannQuestion 7:Q7. What are some big mistakes professionals make when asking for a raise? #BizChatsMashable Business#BizChat A7 When asking for a raise, go in informed (please) / and be confident about your valueSallie KrawcheckA7. Making it emotional. I've seen some people talk about a raise in the same tone as "we need more Post-It notes" #bizchatsKathleen O' CelminsA7. Not being prepared with concrete examples for why you deserve the raise. #BizChatsKaryne LevyA7. Not asking at all. #BizChatsGerry SprattA7. Or not knowing how much to ask for. #BizChatsGerry SprattA7: Not being prepared to show the increased value they're contributing in real numbers #BizChatsAshley TerryA7. They don’t make a good case because they aren’t able to show why they deserve it. It goes back to those metrics. #BizChatsAmanda AbellaA7. Asking without researching and without evaluating your performance is a big no-no. #bizchatsKritika KulshresthaA7: Not preparing valuable information to support your request - numbers and actions speak louder than just words #BizChatsRymax Marketing@mashbusiness A7: don't ask for a raise based on what you need to earn-no one cares. Negotiate based on value/results! #bizchatsCarrie SmithA7. Here’s @NerdWallet’s guide to salary negotiation for new grads. https://t.co/CWvHyWW0Zu #BizChatsGerry Spratt@mashbusiness A7: Threatening to leave if the don't get it. People don't respond well to threats. #BizChatsDebbi KingA7. Asking to go from $40k to $100k with nothing to back it up. I had a guy do that once #BizChatsAmanda AbellaA7: They talk about their own expenses. Being a spendthrift instead of a coupon cutter doesn’t mean you should earn more. #BizChatsKatie Donovan@mashbusiness A7: Not showing your value to the company, and how your abilities are a direct asset to the goals of the company. #BizChatsYelling MuleA7. If you did great work, show it off. #BizChatsKaryne LevyA.7 #BizChats Know your value in your employer's hands: what will you do to increase revenue (how have u done so in the past)Victoria PynchonA7. forgetting your boss is asking, "what's in it for me?" #bizchatsKathleen O' CelminsA.7 #BizChats Let them know why an incremental increase isn't sufficient in this market, at this time, for your position, with your skillsVictoria PynchonA.7 #BizChats Know your particular value; what is your unique contribution, stress thatVictoria Pynchon@mashbusiness A7. Overestimating yourself and not asking what your boss thinks of your work before asking. #BizChatsMilapA7 And don't cry. Had a few people do that too. #BizChatsAmanda AbellaA7: They talk about what they do instead of their impact. #BizChatsKatie DonovanA7. Don’t complain about how much you’re not making (like the Yelp employee’s open letter on Medium). #BizChatsKaryne LevyA.7 #BizChats Know your market value, know why you should be paid at the top of that value; know if you shld be in the next higher positionVictoria Pynchon.@mashbusiness A7: Throwing out number but not being able to back up WHY they want that % of pay increase. WHAT IS YOUR REASONING? #BizChatsElizabeth DickersonQuestion 8:Q8. What final tips do you have for navigating a successful review? #BizChatsMashable BusinessA8. Ask questions. Don't be afraid to be specific. This is your job and your life. Your boss isn't a mind reader. #BizChatsKaryne LevyA8. Focus on the critical/constructive pieces. Those are your opportunities for development. If you aren’t hearing any, ask. #BizChatsGerry SprattA8. Bring metrics, come prepared, ask for a little more than what you want, and behold the power of silence. #bizchatsKathleen O' Celmins#BizChat A8 Billie Jean King said “pressure is a privilege.” Remember, feedback is a privilege.Sallie KrawcheckA8. Any time you ask for something, STAY QUIET. Do not backpedal. The first person to talk after silence is conceding a point. #bizchatsKathleen O' CelminsA8. Use it as an opportunity to see how far you’ve come in your career, not how far you still have to go. Mindset matters #BizChatsAmanda AbellaA8. And listen to the critical pieces with an open mind. It’s not (or shouldn’t be) personal. #BizChatsGerry SprattA8. Talk about the past, and talk about what a raise will help you do in the future. #bizchatsKathleen O' CelminsA8: Be proactive with at least one thing that you know you could have done better. Frame it as a learning experience. #BizChatsKatie Donovan.@mashbusiness A8: Be honest + practice open communication. Ask for critiques. Use it as motivation to be great. Establish goals. #BizChatsElizabeth DickersonA.8 #BizChats Don't negotiate with HR; negotiate with the guy or gal who needs you to do what he/she needs in coming yearVictoria PynchonA8. Be a good listener. Silence can be a great negotiating tactic. Embrace silence. Master it. #bizchatsKritika KulshresthaA8. Never forget to look at the bigger picture. Minor hurdles could pave the way for major opportunities. #bizchatsKritika KulshresthaA8: Expect that you will be told to improve at least 1 thing. Your boss is not doing her job if you are not. #BizChatsKatie DonovanClosing Comments:Thank you for joining today’s #BizChats!Mashable Business#WednesdayWisdom fulfilled by today's #BizChats. Thank you @mashbusiness !! I'm ready to negotiate! #CareerGoalsAlicia@mashbusiness @gspratt76 @karynelevy @kathleencelmins @KDSalaryCoach @VickiePynchon Thank you! Great to chat with you all! #BizChatsAmanda Abella@mashbusiness Thank you!!Victoria Pynchon.@mashbusiness Thank YOU! #BizChatsElizabeth DickersonThank you @mashbusiness for hosting another great #BizChats! https://t.co/ZdiHGsXGSzRymax MarketingMashable