Playbook 05 - Performance

Playbook 05 - Performance

September 7, 2021

Goal Setting

  1. Vision and goals for company, each department, individual.
  2. Communicate vision to each team member.
  3. Tracks and reports how successful each is in achieving those goals.
  4. Recieve feedback from all team members on what is and is not going right to make appropriate changes.

Meetings serve as the backbone for this system:

  1. Quarterly Goal Meetings
  • Leadership sets company quarterly goals
  • Departments set goals to achieve company's goals
  • Discuss where you want to be in one year (challenge assumptions)
  • 1 year, 10 year visions
  • 3 month goals (50% success rate === successful)
    • Goals - Where you will end up
    • Plans - How you will get there
  1. Biweekly Team Meetings (30 minutes)
  2. Biweekly 1:1 Meetings (1 hour)
  3. Annual Company Meetings
  4. Office hours

The team meetings and 1:1 meetings ideally happen on one day a week.

Performance and Compensation Reviews

Promotions are defined as a change in level and responsibility.

Raises are defined as progression within the current level / responsibility.

Compensation should be:

  1. Fair
  2. Transparent
  3. Competitive
  4. Data driven

There are 3 types of compensation adjustments:

  1. Promotion - New levels and responsibilities likely means increases in compensation. This should bring the recipient to the level if you were to hire it out now.
  2. Merit-based Increase - Progression within the band of responsibility. Available for those who have not had a raise in the last 12 months.
  3. Adjustment - As the outside world adjusts, we will correspondingly adjust our bands to stay competitive.

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