- As the job market cools, many companies are focusing more on performance and metrics in evaluating employees.
- Big names like Meta have been in the news for making decisions using work performance, including job cuts.
- Keeping track of your performance at work and how you bring value to your company can be important.
A few big companies have been in the news for cutting underperformers and rewarding high performers. If you're looking to advance your career or keep your job in an increasingly frozen job market, you should take advantage of the classic advice to document your work wins and accomplishments.
Keeping track of your performance can be crucial to getting a raise or a promotion, and for job security. Microsoft and Meta have made performance-related job cuts. Business Insider's Eugene Kim reported that "Amazon is revising its compensation structure within pay bands to better recognize and reward long-term high performers."
Emily Field, a partner in McKinsey & Company's people and organizational performance practice, said performance management tends to follow economic and talent cycles. Companies were more relaxed about it during the pandemic and the Great Resignation, when workers were quitting their jobs en masse.
But now the Great Resignation is over, hiring has cooled, layoffs are still low, and more workers are staying put. That more static labor market could mean demonstrating your value at work can be even more important to get promoted or to try to protect your role from layoffs.
"What we're seeing is, particularly with AI, particularly with economic headwinds, we're seeing organizations say, we need to focus on high performance to be able to win, to be able to innovate, to be able to beat our competitors, and therefore we need to focus on performance management," Field said.
Below is advice on how to document your wins, who needs to see them, and how often you should be discussing performance.
First, you need to figure out what your boss expects from you
Amy Lentz, the founder of Hack Your HR and chief people officer of footwear company Toms, said, "If you are creating value in your job, I think it's important to document," Lentz said. "Where people get kind of hung up is, 'Well, what is success and how do I measure it?'"
Vicki Salemi, a career expert for Monster, said if a company is figuring out layoffs and their budget, workers need to also think of their job in terms of numbers.
"They're thinking about in terms of your wins, but also money saved, time saved as well as money earned, time earned in terms of efficiencies, streamlining," Salemi said.
Field said it's always been important to have quantifiable metrics. But in today's economy, "it's even more important to be able to say, this is how I'm contributing to the organization's success."
Salemi said not all companies have quantitative performance ratings because they are having ongoing conversations about performance and don't think there needs to be a formal process.
"In that case, it may be harder for you to show that you're a strong performer if they don't go by metrics," she said.
Salemi said to focus on what you can do to be a good employee, including whether you are hitting or exceeding goals and expectations. If you are worried about layoffs, Salemi said to ask your boss what you need to do differently or what you need to prioritize.
"That shows engagement, that shows that you care, and that you are willing to roll up your sleeves and do the work and hopefully get honest, helpful feedback," Salemi said. "Your boss might say, 'It's the company. It's not you.'"
Don't keep your wins to yourself, but you don't have to broadcast every success in real time
Lentz said documented wins should be measurable, objective, and factual, and less about your perception of that success. She said to document what you did, the outcome, and how it brought value. Salemi said to get in the habit of quantifying what you do because this can also be helpful if you apply for a new job. Salemi added that you can also document work testimonials and feedback you have received.
Salemi suggested workers document their success in real time, even if it's just a note on their phones that they can refer back to. However, she advised against showing them to your boss after every success.
"You do need to do that periodically and when it matters," Salemi said, adding that a good time to do so is during your organization's review of salaries, after a big project, or overcoming some work hurdles.
Lentz suggested making a document that you can add to and share with your boss, arguing that it could be more effective than just tracking everything in a single annual review.
Talk to your manager about what you need to demonstrate
Field said setting goals is important for documenting successes. She said to have check-ins with your manager because your priorities and what you need to deliver on might change over time.
Lentz suggested asking in your one-on-one meeting with your boss for a conversation in the next few months about goals and how to spend your time, so you can understand if you are working on what is of value at the company.
Salemi suggested asking your boss if they have a minute to discuss how to be rated as exceptional at the company this year and what metrics they need to see from you. Salemi said even if your boss isn't numbers-focused, you need to include figures in your documentation because your manager won't be the only one evaluating your performance. She added that it can also be important if you are considering an internal job switch.
"The first thing that potential new boss is going to do is they'll want to see your performance review," Salemi said. "It's important to highlight your wins and that means including numbers."
Are you a leader who can talk about layoffs, uncertainty, or performance management at your company? Reach out to this reporter to share at [email protected].
