Playbook 05 - Performance
September 7, 2021
- Vision and goals for company, each department, individual.
- Communicate vision to each team member.
- Tracks and reports how successful each is in achieving those goals.
- 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:
- 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
- Biweekly Team Meetings (30 minutes)
- Biweekly 1:1 Meetings (1 hour)
- Annual Company Meetings
- 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:
- Data driven
There are 3 types of compensation adjustments:
- 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.
- Merit-based Increase - Progression within the band of responsibility. Available for those who have not had a raise in the last 12 months.
- Adjustment - As the outside world adjusts, we will correspondingly adjust our bands to stay competitive.
Major thanks to https://conscious.org for serving as an amazing jump pad.