The perfect preparation for the annual meeting as a product owner

Typical course of an annual meeting

As a rule, the annual review takes place in three chronological steps: It is important to prepare for frequent questions and answers in order to increase the professionalism and efficiency of the meeting.

1. review of the past year

The annual appraisal typically begins with a review of the past year. At the beginning, the employee and the manager reflect together on the past year. General experiences and events are discussed in order to paint a comprehensive picture of the past twelve months. Key questions play an important role here: what answers have helped you to reflect on your performance and what have you learned from these reflections? The focus is on the highlights, the biggest successes and high points of the year, as well as the lowlights, the challenges, and how these were overcome.

2. assessment

The next step is to assess performance. The employee first assesses their own performance and development over the past year. The manager then gives feedback and evaluates the performance from their perspective. Strengths and areas for development are highlighted. In an open discussion, the employee and manager exchange views on the various assessments and feedback points. The areas where improvements or additional support are needed are identified together.

3. looking to the future

The final part of the interview looks to the future. Here, the employee's specific goals and projects for the coming year are discussed. It is discussed how these goals can be achieved and what support is needed to achieve them. A positive discussion climate is crucial in order to create a constructive atmosphere for setting future goals. Finally, the manager's or company's plans and expectations for the future are discussed. Care is taken to ensure that the employee's personal goals are in line with the company's goals and how these can be supported.

Know the basics for the assessment

The assessment is often divided into different areas, as in a framework. As a product manager or product owner, it is important for you to know in which disciplines you will be assessed.

Ideally, you should find out what is important to your company and how your performance will be measured before the annual review. Clear communication about the evaluation criteria is crucial in order to avoid misunderstandings and understand expectations. Regardless of the annual review, it is good to know which areas of your work your company values.

It will help you enormously if you know the assessment basis for good performance in your position and also what skills are expected for a promotion. You can:

1. measure your own progress to a certain extent and also assess what you may still be missing for the next step.
2. possibly bring your own assessment in the annual review closer to your manager's assessment.
3. proactively look for training formats in advance that will make you better in the areas where you want to improve.

If there is no framework for your assessment, you can take the initiative and ask yourself a few questions. You can use the annual appraisal to obtain detailed feedback. You can also formulate goals together with your manager and secure resources to help you get closer to your own goals. This will also create a basis for the next annual appraisal.

P.S.: In the video, Thomas explains how Personio from Munich assesses their employees in product management! ⬆️

Think about where you want to go

To really make the most of the interview for you and your further development, you should clarify a few questions for yourself in advance:

• In which areas would I like to improve?
• How can I specifically improve in these areas?
• What is my next career goal?
• What resources do I need from my boss to achieve my goals?

Here are some helpful tips for setting and achieving your personal development goals: Set clear, measurable goals, create a detailed plan and review your progress regularly.

Reflecting on your 'weaknesses' is a powerful step in preparing for the annual review. It empowers you to see your own weaknesses and then tackle them with concrete ideas.

It is also important to be clear about the direction you want to take in the future. This becomes even clearer with concrete goals that illustrate this direction.

The sticking point: your goals vs. the goals of your company

Of course, your company is not only there so that you can realize your own goals. It also requires you to support the company's goals.

It is desirable to find a balance between your personal goals and the company's goals. On the one hand, you devote energy to the goals of your company, which are not always directly related to your personal success. On the other hand, there are also projects that advance you and your career but do not offer your company much added value. Balancing between these two positions is definitely a challenge. So what to do?

Find common goals

If you find a weak point in your company in which you would like to develop or train yourself further, this is ideal. Annual appraisals are crucial here in order to harmonize personal and company goals. In this way, you create an initial situation in which your efforts have added value for both sides.

An example: You have observed that the features in your company were not as successful as you had hoped after implementation. You can then suggest attending a seminar on product discovery.

Recognize a weakness in the organization and then offer to correct these weak spots through your own commitment. In this way, you contribute yourself as an active team player and at the same time gain the opportunity to receive more resources for your projects from your manager.

Clarify the following main questions before the annual meeting:

1. How do you and your company measure your personal development?
2. What is your goal for the future?
3. How can you create more value for the company?
4. How can you continue your education in a creative way and at the same time offer added value for your company?

Have you already had your annual meeting and did our questions help you? Please let us know!

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