Bonuses & Promotions (It’s THAT Time Of Year)
“The harder I work, the luckier I get.” –Samuel Godwyn (American Film Producer)
Whether you’re a Sage Intacct Accounting Firm or an Acumatica VAR, the calendar is the same for any ERP Company. And that calendar says the end of the year is fast approaching. If your company gives out year-end bonuses, or you’re looking to level up with a promotion, there are ways to put yourself in the best position to achieve those goals. We’ve put together a short list of things you can do to boost your chances of wrapping up the year with a promotion or getting that sometimes elusive year-end bonus.
Document Your Work Week
Whether it’s a bonus or promotion, keeping track of the work you do during the week is always a good idea and a great place to start. Write down your projects, innovations, and successes. Outline ways you’ve solved problems. Using numbers to highlight your achievements is a great way to show how you are helping the bottom line of the company where it matters most. This article at Monster.com provides some helpful tips when it comes to tracking your efforts.
Highlights are good but don’t get carried away writing a long memo to your boss. That’s just a little over the top and keeping it ‘high-level’ is definitely the way to go. When it does come time to discuss a bonus or promotion, this extra initiative from you may aid your boss when it comes to writing your evaluation. Every little bit helps!
It’s actually not a bad idea to do this even if your company doesn’t offer a year-end bonus. Don’t worry, all the extra work you put in to highlight your achievements is exactly the ‘ammunition’ you need when it’s time to discuss raises and promotions, not just bonuses. Either way, you are one step ahead.
Speak Their Language
Keep in mind that what’s important to you might not be important to your boss, and vice-versa. It’s important to communicate with decision-makers about what they care about most. Talk to someone in upper management about how your work is contributing to the company’s strategy. This article from Fast Company breaks down the best ways to do just that. Explain to your leader how your goals are aligned. When you show that you care about the company’s goals and are focused on the role you play to help meet those goals, you’re seen as a key part of the organization.
Go into any discussion of a promotion or raise with the best possible footing. You don’t want to receive a so/so performance review and then request to move up in the organization. Instead, know the needs of your employers and always do your best to make sure that you’re at the top of your game before looking for additional responsibilities.
Focus On It All Year
Hoping to get some good news at the end of the year? It’s always a smart move to get a head start on the next 12 months. To get to a bonus, make sure you spend the year focused on it. A bonus isn’t something you can earn in the final quarter of the year and it’s probably not something that a one-time triumph will get you either. According to this article from Indeed there are also different types of bonuses you may come across. If you are unsure you can always define expectations by asking what you can do to help the company to help better your chances to get a bonus. You don’t know if you don’t ask!
Promotions should also carry the same weight, if that’s your goal. Your request certainly shouldn’t come out of the blue. Don’t keep your ambitions to yourself. You don’t want to be pushy or aggressive (there’s a difference in ambition and drive). By putting out the feelers, you can learn where you stand and possibly get a little help in what it will take to level up.
It also helps to define your company’s expectations from day one, even before you are hired. For instance, most ERP Implementation Consultants have a bonus or commission plan in place that is a dependable source of income during the year. If you don’t know how those are defined or focused on what those KPIs are for your position, you are ‘flying blind’ as the old saying goes.
Final Thoughts
Remember that the conversation about a raise or promotion isn’t always the most comfortable thing for you or your employer. Having as much information ready to show your value as a contributor will help to make the decision that much easier at the end of the day.
Here at DyNexus we’re proud to work with some amazing clients who employ people just like you. Visit our website here to see a list of full-time job openings or visit our contractor page where we help find work for our contractor friends as well.
Good luck out there as we inch closer to the end of the year. Always remember that the work you do today will have an impact on raises, promotions and other potential career growth you might have your eye on.