Ace Your Annual Performance Review

The Product Porch

Is your experience with annual performance reviews anxiety-inducing? Stop sweating, and join us for this episode of The Product Porch, where we discuss strategies product managers need to ace their annual performance reviews. From framing your accomplishments to overcoming common review pitfalls, we’ll show you how to turn your review into an opportunity for recognition and growth. You’ll leave with practical tips to effectively communicate your value, align with leadership expectations, and set the stage for success.

We even discuss why the annual review process feels broken and share ideas to make them more meaningful and effective.

References & Links

Nine Lies About Work: A Freethinking Leader's Guide to the Real World | https://store.hbr.org/product/nine-lies-about-work-a-freethinking-leader-s-guide-to-the-real-world/10214?srsltid=AfmBOopQNCeo0kYerQGhXkfI7-3TR1XIXn6seajzp9hW8H8sn1wvqb5O

Show Notes for Episode 14: Ace Your Annual Performance Review

[1:15] Our Feelings on Annual Reviews
Ryan reveals he’d rather mulch than tackle an Annual Review.

[2:54] First Performance Review PTSD
Ryan shares a traumatic Performance Review experience as a Product Manager and the infamous “Be More Like Me” feedback.

[3:52] Why Performance Reviews Don’t Work
Todd lists four flaws: recency bias, diverse value expressions, unreliable ratings, and focus on weaknesses.

[6:40] Judging a Quarter, Not a Year
Why most evaluations in Product Management focus on events from the last 6–8 weeks.

[7:51] The Surprise-Free Review
Joe explains why surprises in Performance Reviews spell trouble.

[10:47] Ideal Evaluations
What’s the best way to evaluate people, and what matters most in a Product Manager’s performance?

[11:50] Measuring a Product Manager’s Impact
How do you fairly assess the breadth and depth of Product Manager responsibilities?

[13:23] Sales Team Backlash
Ryan wonders: Will presenting bad news to sales hurt his Performance Review, even if it’s not his fault?

[14:30] Evil Todd Strikes Again
Todd brings humor to the broken Annual Review process.

[15:21] Gaming the System
Ryan shares how some Product Managers manipulate their Performance Reviews to hit numbers.

[16:10] Recency Bias in Product Management
How recency bias can distort evaluations for Product Managers.

[17:40] Hero Complex in Product Management
Do great Product Managers need to play the hero?

[18:27] Leading Indicators Over Outcomes
Why it’s crucial to sell leading indicators when Performance Reviews don’t account for long-term results.

[20:31] Should we Aim for Well-Rounded or Spikey?
Are the best Product Managers balanced, or should they excel in specific areas?

[23:12] Risks of Focusing on Weaknesses
What happens if you only focus on improving low competencies?

[24:44] Why We Focus on Negatives
Exploring the human tendency to zero in on flaws during Annual Reviews.

[28:14] Evaluating Product Spikes
Todd explains how to measure a Product Manager against their product spikes.

[29:00] Values-Based Reviews
Todd critiques values-based reviews as being too subjective.

[31:36] Perception vs. Reality
Why perception is reality in the Product Management world and how it impacts Performance Reviews.

[34:17] Ditching Annual Reviews
Joe advocates for quarterly reviews over Annual Reviews, drawing parallels to roadmap trends.

[35:40] Fixing Annual Reviews
Todd’s actionable recommendation to improve Annual Performance Reviews.

[38:00] Why Annual Reviews Persist
Examining why companies cling to Annual Review models.

[38:41] 90% Ineffectiveness
Ryan shares that 90% of Annual Reviews fail to deliver results.

[38:59] Manager Dissatisfaction
95% of managers dislike their organizations’ review structures.

[39:54] Fixing Annual Reviews
Strategies to overhaul the Performance Review process.

[41:30] Measuring What Matters
The importance of clear product and organizational metrics in Product Management.

[43:00] Build a Wins Document
Why tracking your wins can help with Annual Reviews and how to get promoted.

[45:56] Crushing the Fourth Quarter
Tips to end the year strong as a Product Manager.

[47:18] Seek Feedback
Proactively gather feedback to excel in Performance Reviews.

[47:30] Key Takeaways
“We are not reliable raters of other people,” but improvements are possible for Product Managers and their teams.

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