Performance Review Time here at work. I was hired about 5 months ago to help a company with a massive Collections portfolio. They have allowed many of their Customer accounts to have tons of claims and deductions and stay unresolved for years.
Pricing claims, shortages, Allowances for advertising, etc….some of them from 2018 and 2019!!! This is considered to be very poor management in any Accounting company, as the aged portfolio is very bad. For example, if they wanted a loan from the bank, the bank would review their Receivables and see this aged bullshit and not loan to them. This is also called the DSO, or “Days Sales Outstanding”. DSO industry standard is normally 20% or less of total volume is aged. This company had accounts that were 65%, 75% and up to 85% volume is over 120 days old!
They hired me and in less than 5 months I have completely cleared the age from their top ten accounts: Amazon, Walmart, REI, Google, Costco, etc…Now their aged volume for DSO is under 5%.
It took a TON of work and I'm proud of myself! I've been complemented by Sales and Finance for the work I did and my manager is very happy. Two months ago, they changed my title to Senior Accounts Rep. and I was given a raise. I'm happy about that.
Got my Performance Review and it was marked as “Meets Expectations”. Really??? This is what you expected from me? You had a Senior Account Rep who had quit and she never accomplished this amount of work in the past three years!! But I'm just at Meets Expectations?
Oh, of course, because if you give me “Exceeds Expectations” that means it determines my raise in June. And you don't want to give me any more money. Got it.
Want to see a good worker become completely unmotivated? Because now I am. Bunch of jerks.