5 Things for Year-End Performance Reviews

From the desk of Karen Lombardo, President of Put Another Way.

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Performance reviews are dreaded by both management and employee. Each feels the weight of the process and experiences trepidations at the amount of time it takes to perform this one on one review.

Years ago, working for a Fortune 100 company, the process was strict, the documentation exhausting and the flexibility was zero. There had to be a better way. I took the best from the performance reviews I experienced in the past and utilized many of the suggested platforms below.

Here are some creative ways and thoughts on performance reviews:

Do it quarterly! I never understood waiting until the end of the year to discuss an employee’s performance. Whether good or bad…don’t wait.

Self-Assessment. This is a common format allowing the employee to self-assess and discuss successes, challenges, and areas for improvement. Management reviews and adds comments and suggestions for the upcoming year. Keep it short.

Skip level reviews. These can be effective and very eye opening. The subordinates and/or sometimes peers of the employee can review the employee either in a conversational written review or a structured question review. This works best for managers and upper level executives.

Performance review by objectives. Here the management team will set a list of objectives focusing on many aspects of the employee’s job. This could include managing expenses, performance goals, or job specific tasks. This type of performance may need to be completed after year end as the close of business figures may be required for the review.

Unwritten, verbal review. This one is a little touchy because there is no paper trail of the review. A summary of the conversations can be drafted and approved and signed off by both management and employee.

No matter how you review your employees, be fair and speak to them clearly and with a purpose. Be prepared and carve out time only for them, no interruptions.

We have all been reviewed by a manager that did not know how to execute a performance review. Need help or suggestions on how to conduct performance reviews? 

The Capital Region Chamber offers numerous classes and seminars through their BuisnessU Program. Check out their website and sign up for seminars and training here.

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‘Shark Tank’ Investors Reveal Top 5 Tips to Make Your Business Famous

'Shark Tank' Investors Reveal Top 5 Tips to Make Your Business FamousYou see them on TV each week listening to budding entrepreneurs who are pitching their businesses and convincing any one of the “sharks” to invest money in their idea.

These self-made, multi-millionaires and billionaires are now are giving you advice on how to make your business famous and successful without having to score a reality TV deal. Read the article from Entrepreneur here.

Who Will the Storytellers Be?

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At the next WBC event, Voices in the Crowd on Tuesday, November 13th at 11:15 am four individuals will be doing a story slam. They will stand up on stage and tell their stories unscripted.  Come to this unique and fun event to network with your peers and experience a lively, finger snapping, story slam.  All genders welcome.

The storytellers will share their captivating stories about:

  • Hitting the glass ceiling and pushing through to success
  • Turning a personal story of abuse into an opportunity to help others tell their stories and build an innovative and successful organization
  • Transforming a struggle to find meaning in life into a successful career opportunity 
  • Using challenges and insight to pave the way for an entirely new model for thinking about education

For more information, please contact Marna Redding, Vice President of Member Services at the Capital Region Chamber, at mredding@capitalregionchamber.com or reach out to us via the blog or Facebook.

CAP COM Merges with Albany City Lodge Knights of Pythias Credit Union

The Boards of Directors of Albany City Lodge Knights of Pythias 540 (ACL) and CAP COM Federal Credit Union (CAP COM) have approved a resolution to merge the two credit unions, which became effective October 31, 2018.

ACL, the 52 year-old credit union located at 10 Russell Road in Albany, NY, has discontinued operations at that location. The credit union’s 200+ members will join CAP COM’s membership of 146,000.

The merger of the two credit unions was driven by a dynamic regulatory environment that creates significant pressures on small financial institutions like ACL. Previous members of ACL will now be able to take advantage of the full breadth of products and services CAP COM provides. In addition to its array of financial solutions, CAP COM offers multiple branches, a vast network of ATMs, educational resources, online and mobile technologies, and award-winning service tailored to members’ needs.

“It is our commitment to provide each member with a positive and memorable financial services experience,” noted David Jurczynski, CAP COM’s Executive Vice President and Chief Financial Officer. “CAP COM is delighted to welcome members of Albany City Lodge to the CAP COM family of members, so they can experience firsthand the warm, exceptional service for which we are known.”

“In order to thrive in today’s competitive environment, many credit unions look at mergers as a viable strategy,” said Jayson Schner, Albany City Lodge K of P 540 Federal Credit Union’s Board Chair and President. “A merger can open opportunities to offer better products and services to credit union members through increased operating efficiencies. This merger represents a joining of two financial institutions to benefit both memberships.”

As Nigerian Fashion Booms, Women Lead Its Coverage

From left, Adesuwa Onyenokwe, Chioma Onwutalobi, Betty Irabor and Tewa Onasanya.

Running a magazine is no easy feat, especially if you live in Lagos, Nigeria, where resources such as printing presses, electricity and paper stock are not always easy to come by.

Despite these challenges, four entrepreneurial women have been able to start and lead magazines that cover topics ranging from fashion to domestic violence. The New York Times sat down with them to discuss their publications, their hardships and how to help empower women.

Read the article here.

A Special Thank You to Jackie Sheffer

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As 2018 is coming to a close, the Capital Region Chamber and the Women’s Business Council would like to extend their sincerest gratitude to Jackie Sheffer, the 2018 Women’s Business Council Chair. We greatly appreciate all the hard work and dedication Jackie has made towards making the WBC a more engaging and welcoming place to all professionals in the Capital Region.

To show our thanks, the Women’s Business Council made a $100 donation towards the Atlantic White Shark Conservancy, which happens to be a cause that Jackie is extremely passionate about. This donation will help assist local scientists in completing a first-of-its-kind Northwest Atlantic white shark population study, continue to work with Town, State and Federal officials to improve public safety, and expand our community outreach programs to inspire shark conservation.

Join us in thanking Jackie for all she has done for the Women’s Business Council!

Don’t forget! Tickets for the Women’s Business Council’s next program, Voices in the Crowd, are still available. This story-slam features local professional women sharing their unique stories to the crowd. You don’t want to miss this event.

Get your tickets here.