Several evenings ago, I had dinner with a client, who happens to be the director of recruiting and professional development for a major national law firm. We discussed the economy, including the impact the downturn has had on his employer. That firm had laid off a news generating number of lawyers earlier in the year. According to my client, despite the lay-offs, a number of new lawyers had recently approached him and asked about renegotiating their bonuses. When told this, my reaction was, “You’ve got to be kidding me. Don’t they realize that they’re lucky to still be employed?!?!?!” 

 

As the year draws to a close, every employee—brand new as well as more senior—should spend some time reviewing the past year. Whether or not your performance will be formally reviewed, it is important to be able to clearly enumerate what you have accomplished in the business cycle. Because of the economic downturn, it is more important than ever for employees to be able to articulate how they have contributed to the bottom line. This year, a listing of general characteristics (I’m a great team player) will not suffice.

 

Any new employee who started after mid-year and who has not experienced a significant increase in responsibility since that time should hold off on requesting a bonus. Pushing for extra dollars now could create a very negative impression, especially in the minds of managers who are being pressed to reduce costs. Instead, employees should use this time to show their commitment to the long-term growth of their employers.

 

For additional insights, see Brian Moore’s excellent article “Bah, Humbug. Money’s tight, so what should you ask for at review time?” in his 12/15/08 NYP@work column.