Whether you’re an external or internal auditor, compliance professional or perhaps even just starting out as a fresh faced graduate in your new audit career, there comes a time in every person's life where they must face their annual performance review.
A strong performance review can enhance your job security and boost your chances of scoring that sought-after internal audit manager role you’ve been chasing; a weak review and you’ll have to wait a whole year before you get another chance at bumping up your auditor salary. Never fear! Here are our top tips to help you not only prepare for, but also ace your next review:
1. Beforehand, perform your own career audit
Ahead of your scheduled review, take a moment to sit down and examine your own performance – try to put yourself in your manager’s shoes.
- Where have you added value in your audit reporting?
- Have you executed and performed your audits according to internal audit standards?
- Write down what you think have been your best achievements in the role to date, including areas where you have helped to implement innovative solutions to business processes and how that has benefited the business directly.
2. Don’t forget risk management (i.e. assess your weaknesses too!)
It’s important to take a look at any internal conflicts that you may have needed to deal with along with your achievements, as these will almost certainly be addressed. No-one is perfect, and whilst you won’t want to highlight any negative performance, at least being prepared to answer these questions will make the task easier to get through.
During your review, try to take your managers feedback on board constructively and demonstrate how committed you are to improving and ultimately fixing any problems.
3. Write down a list of your career goals and objectives
Your manager isn’t going to want to just take a look at your past auditing performance; they’ll also want to get an idea of where you see yourself in the future. Write down a list of your professional goals – what would you like to achieve in the next 6 months? 12 months? 5 years time? Perhaps you’ve got your eye on an audit manager role, or want some further information on those risk management vacancies you’ve heard were coming up?
Let your manager know exactly what you want from your auditing career, so that over the next year they will be able to help you achieve your dreams.
4. If you want to discuss a raise in salary – be prepared!
Research the average industry salary for your role by search on job boards for similar audit job descriptions, or even speak with an audit recruitment specialist who will be able to give you a good overview of what you should be able to expect.
Bring documented proof of these auditor salaries into the review with you and provide your manager with a clear indication of your expectations.
5. Don’t be afraid to provide feedback
Remember, the review is a chance for you to give your boss feedback on how they are managing you too. Identify the areas where you are happy with their support, and use the opportunity to let them know if there are any areas where you would like extra help, training or encouragement.
After your meeting, feel free to breathe a sigh of relief! As a final gesture, it can also be worth it afterwards to send a quick email to your manager to thank them for their time, outlining the conversation and the key action points discussed.
When was your last review? What are your top ways to keeping calm and staying confident during performance appraisals?
To look for a new audit job, visit CareersinAudit.com, the leading job site for auditing vacancies.