Closing out the year: Successfully completing your Valuation in Q4

Approximately a 3-minute read.

Key takeaways:

• It’s the final quarter of FY23, so be sure to begin finalizing your Valuation.
• The deadline to complete your Valuation is June 30.
• Tips, resources and webinars are available to help you make the most of this process.

The fourth quarter of the fiscal year is here! And it’s a time to not only reflect, but look ahead.

It’s also the time to finalize a few details to complete your FY23 Valuation. 

A yearlong focus

Over the first three quarters of the fiscal year, employees should have drafted SMART goals, had regular quarterly check-ins with their supervisor to discuss progress and modifications toward goals, and be well on their way to wrapping up their Valuations.

That said, Q4 is the period of time to focus on progress you’ve made, receive feedback from your colleagues, customers and supervisors, and begin planning for the next year. 

To help understand what to do in Q4, watch this brief overview video and review the steps outlined below. 

• Review the 1-Year Performance Management Roadmap
• Hold a leader and employee check-in (End Of Year Question), preferably during an already scheduled 1:1
• Continue to think about 360 Peer / Customer Feedback and send 360s out.
• Revisit and refine Development Plan as needed
• Revisit and refine Job Specific Work Goals as needed
• Begin to think about Job Specific Work Goals for next year
• In June, your leader should send you a Valuation so that you may finish completing the employee sections and ratings. You then send the Valuation back to the leader to complete their sections and ratings. Finally, you and your leader should meet to discuss a final rating. The signed Valuation will be sent to HR.

Be sure to submit FY23 Valuations by June 30. For details on how to submit, see the Performance Management FAQs on the Performance Evaluation Resources webpage.

Don’t forget, the goal of the Valuation process is to have continuous conversations between leaders and employees to foster growth. Think of it as your best tool to ensure you are achieving success and advancing in your career at Michigan Medicine.

Upcoming webinars and additional resources

To help staff and leaders learn more about the FY23 Valuation and how to successfully complete the year-end process, Organizational Learning will be offering information sessions throughout Q4 to answer your questions.

Anyone is welcome to register and attend any one of these sessions.

• Thursday, April 13 from 11 a.m. – 11:50 a.m.
• Wednesday, May 10 from 11 a.m. – 11:50 a.m.
• Tuesday, June 13 from noon – 12:50 p.m.

If you have questions about the FY23 Valuation, please email FY23Valuation@med.umich.edu.