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Recruiting College Athletes to Wall Street

Oct. 29 (Bloomberg) -- Drum Associates Carly Drum-O'Neill discusses the business benefit of participating in college sports with Deirdre Bolton on Bloomberg Television's "Money Moves." (Source: Bloomberg)

How to Have an Effective Performance Discussion (Part 2)

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As promised in last week’s blog, today I’m sharing tips on how to have an effective performance discussion, from the employee’s perspective. Being the receiver of performance feedback is a very difficult role, and I hope that the below tips can help you prepare and be an active contributor during the conversation. Remember, you want this to be a discussion so I encourage you to participate as much as you can!

(1) Participate. Be an active contributor to the discussion, don’t be afraid to share your feedback and comments.
(2) Bring a list of Questions. This is the formal time where you can get any questions off your chest about your role on the team. Discuss the roles and responsibilities and how your accomplishments compare to the goals that were set out for you.
(3) Set Expectations. This is a great time to discuss the future. Specifically, promotion or expansion of responsibilities. Be sure to express your 12-month and 24-month goals. And ask your manager how you can be in a position to get promoted to the next level.
(4) Don’t be afraid to disagree. If you disagree with feedback or a rating, handle it in a professional way. Have supporting evidence as to why you disagree. Mention specific accomplishments that would counter the feedback from your manager. Just remember to handle it in a very mature way, you don’t want to come across the wrong way.
(5) Be prepared to hear some hard truths. Enter this conversation with an open mind. Remember that constructive feedback is a wonderful thing that your manager can give you. It’s your opportunity to get someone else’s perspective on your work. Work with your manager to overcome any challenges or weaknesses that you may have.
-Allison Kolmer, Drum Associates

How to Have an Effective Performance Discussion

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In my decade long career at a major financial services firm, I had the opportunity to be both the giver and recipient of formal performance feedback. I also coached managers and analysts on how to effectively have these difficult conversations. Here are my tips to a manager for having an effective performance discussion. Next week’s blog will be aimed to the employee receiving the feedback.

• You shouldn’t be sharing anything NEW during a formal performance discussion; a good manager should give ongoing, informal feedback to their employees at all times (outside of the formal feedback discussion)
• The manager’s expectations should always be set in advance of any formal performance discussion. When the employee begins working for you, or when the new calendar year begins, you should share the expectations with him/her
• Same goes for the employee’s goals. These should be outlined well in advance so that you can measure the employee’s accomplishments against these specific goals. You should work with the employee to establish these measurable goals
• The performance review should be a conversation. Check to make sure your employee understands your comments and see if he/she has questions or feedback. It’s important that this is discussion and not just you talking at your employee
• Your attitude and delivery of the feedback is critical with how the information will be received by your employee. Stay positive and suggest ways on how you can work with the employee on strengthening their areas of development
• And remember…provide examples. You can’t give feedback without meaningful examples to support your thoughts. An employee will want to hear that you recognize their hard work, but they will also want to know about the specific ways they may have fallen short in some areas
-Allison Kolmer, Drum Associates

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