Time to check-in on your FY21 Valuation

January 27, 2021  //  FOUND IN: Our Employees,

The third quarter (January – March) of the Performance Management FY21 Valuation is when we begin to review our progress toward current SMART goals, make any necessary adjustments, and seek input from colleagues about our overall performance this year.

This includes conducting a mid-year review between leaders and staff.

The Valuation process encourages year-round collaboration between leaders and direct reports, with a focus on positive development and the value that our employees bring to Michigan Medicine. The mid-year review is an opportunity to check in with staff on their progress toward completing SMART goals established earlier in the year and to make adjustments, based on ever-changing work conditions.

That’s especially important during the ongoing pandemic. 

How to do a mid-year review

Reviews can be done in several formats and should take roughly 10 minutes. Leaders and staff members can use existing meeting time such as a one-on-one meeting, or can schedule separate time to connect. Whether in person, via Zoom, or in any other format, this time should be completely dedicated to reviewing SMART goals and what is needed to move forward. 

Exploration questions can help leaders and staff prepare for and shape the conversation. These conversation starter questions that can be used to encourage impactful conversations and development. You can view a mock mid-year review here.

Note: everyone’s reviews will look different and this is intended as an example.

Valuation resources to help leaders and staff

Now is a great opportunity to work on FY21 Valuations, even if you missed a few check-ins or steps along the way.

As previously mentioned, the third quarter focuses on reviewing your current progress with your leader and an opportunity to begin thinking about reaching out to other colleagues for input about our overall performance this year in preparation for Q4.  

View this short Q3 overview video for more detail and utilize these helpful tips for Q3:

Remember, the goal of the Performance Management Valuation process is to have continuous conversations between leader and employee to foster growth.

If you have questions about the FY21 Valuation, please email FY21Valuation@umich.edu.

A new and improved version of The Wrap employee podcast is here — and it features Brian Cole, the associate director of operations for Organizational Learning, who talks about mid-year reviews. On top of that, there was an exciting new feature — the Lightning Round — and the weekly trivia contest. Take a listen via the YouTube video below or click here for an audio-only version.

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