Practice Made Perfect 24

THE FOLLOWING performance evaluation illustrates how one company’s
value system (PILLAR) is linked to its performance-evaluation criteria. Be
sure that your evaluation questions are linked to your own company’s busi-
ness strategy and unique value system.
Evaluation of:

Evaluation period:

Your position:
❏
Client service

❏
Administrative staff
Instructions: The purpose of performance evaluation is to acknowledge
areas of strong performance, provide reinforcement, and discuss areas for
development.
Evaluators are encouraged to:
!
Reinforce areas of strength by
commending good performance
!
Identify areas needing development and
provide specific examples
!
Establish a measurable goal for
primary areas of performance where
improvement or additional experience is
needed
During my work with this individual, I have found that he or she (please
comment in each area):

208
WORKSHEET 5
Upstream Evaluation
T
HE
P
ILLAR
Passion for Excellence
Integrity
Lifetime Learning
Leading by Example
A Balanced Life
Respect for Others
Passion for Excellence
Integrity
Lifetime Learning
Leading by Example
A Balanced Life
Respect for Others
Source: © Moss Adams LLP
PASSION FOR EXCELLENCE
Is technically proficient, provides good advice, and is able to answer my
technical questions.
❏
Consistently
❏
Usually
❏
Sometimes
❏

Rarely
❏
Not rated
Evaluator’s comments:
Demonstrates a passion for excellence in his or her work.
❏
Consistently
❏
Usually
❏
Sometimes
❏
Rarely
❏
Not rated
Evaluator’s comments:
Provides noticeably superior service to our clients.
❏
Consistently
❏
Usually
❏
Sometimes
❏
Rarely
❏
Not rated
Evaluator’s comments:
INTEGRITY
Recognizes the full range of our clients’ needs and recommends value-

added services that improve their business results.
❏
Often
❏
Occasionally
❏
Seldom
❏
Never
❏
Not rated
Evaluator’s comments:
Delegates challenging work that is appropriate for my level of experience.
❏
Delegates work appropriately
❏
Delegates assignments that are too easy
❏
Delegates assignments that are too difficult
❏
Not rated
Evaluator’s comments:
Includes me in meetings with clients.
❏
Often
❏
Occasionally
❏
Seldom
❏

Never
❏
Not rated
Evaluator’s comments:
U
PSTREAM
E
VALUATION
209
210 A
PPENDIX
LIFETIME LEARNING
Helps me to develop my skills by providing opportunities for growth and
challenge.
❏
Often
❏
Occasionally
❏
Seldom
❏
Never
❏
Not rated
Evaluator’s comments:
LEADING BY EXAMPLE
Conducts productive and timely performance evaluation meetings. (Please
check “Not rated” if this person is not responsible for giving you written
evaluations.)
❏

Consistently
❏
Usually
❏
Sometimes
❏
Rarely
❏
Not rated
Evaluator’s comments:
Makes time to be accessible when I have suggestions, questions, or prob-
lems.
❏
Consistently
❏
Usually
❏
Sometimes
❏
Rarely
❏
Not rated
Evaluator’s comments:
Listens attentively and is interested in my opinions and thoughts.
❏
Listens intently
❏
Is usually attentive
❏
Often does not hear what I am saying

❏
Not rated
Evaluator’s comments:
Gives me recognition for my contributions and efforts.
❏
Often
❏
Occasionally
❏
Seldom
❏
Never
❏
Not rated
Evaluator’s comments:
A BALANCED LIFE
Understands that it is important for staff members to maintain balance in
our lives.
Source: © Moss Adams LLP
❏
Consistently
❏
Usually
❏
Sometimes
❏
Rarely
❏
Not rated
Evaluator’s comments:

RESPECT FOR OTHERS
Treats people with respect.
❏
Consistently
❏
Usually
❏
Sometimes
❏
Rarely
❏
Not rated
Evaluator’s comments:
What do you most like about working with this individual?
Do you have any suggestions for improving your working relationship?
U
PSTREAM
E
VALUATION
211
THE FOLLOWING TABLE is an excerpt from the 2003 FPA Compensation
and Staffing Study. It illustrates how to interpret and use the data tables
the study provides for each job title. Whatever analysis or salary survey
you employ to review your business should consider the same questions
outlined here, so that you can be sure you’re using the data appropriately
and effectively.
212
WORKSHEET 6
How to Use Compensation Benchmarking
and Salary-Survey Data

PARAPLANNER
Primary Function K
A technical position responsible for the detail work in developing modular or compre-
hensive financial plans for clients in support of a relationship manager. Limited client
contact except in meetings, data gathering and follow-up.
Number of positions reported: 267
% who are owners: 0.4
Median % ownership: 25.0

<
$250,000
$250,000– $500,000–
>$1,000,000 $500,000 $1,000,000
Positions reported, by firm revenue 10.5% 13.9% 24.3% 51.3%

Salary + Commission Ownership
Salary Only Incentive Only Distribution Combination No Data
Compensation method 43.1% 45.7% 0.0% 0.0% 6.0% 5.2%
Lower Upper
Compensation information:
Quartile Median Quartile
Base compensation $32,500 $38,000 $45,759

% reporting bonus 48.9%
Bonus $1,309 $3,000 $5,043
Median bonus, % median salary 7.9%
% reporting commissions 4.9%
Commissions $5,000 $10,000 $21,000
% reporting ownership distribution 0.4%
Ownership distribution $670 $670 $670

Total compensation $35,000 $40,000 $50,000
Factors impacting compensation:


Variance as a % of median base compensation


Lower Upper


Quartile Median Quartile
Experience (in years) 3 5 8
Variance in salary by work experience 89% 105% 139%
Tenure (in years) 1 3 5.75
Variance in salary by tenure 105% 97% 123%
How many firms of similar size
employ someone in this role?
Start the discussion with
the median base salary.
Does the position
typically receive
a bonus?
What will the bonus be
in your organization?
How does it compare?
How will the total com-
pensation compare?