Upgrading talent

One of my top recommended reads is The McKinsey Quarterly, which succeeds in combining well-written analysis of current business issues with a fresh take on how opportunities are presenting themselves, often through new technologies.  This article entitled ‘upgrading talent‘ from Dec. 2008 shows the importance of promoting your talents within your current role: when redundancies are being considered, businesses should be asking themselves what sort of talent they retain and may well conclude that depth of knowledge about their own business holds especial value:

“Before undertaking widespread layoffs, companies should use their performance-management processes to help identify strong employees. Companies that conduct disciplined, meritocratic assessments of performance and potential are well placed to make good personnel decisions. These companies should also bring additional strategic considerations to the decisions. They should assess which types of talent drive business value today and which will drive it three years from now, as well as which talent segments are currently available and which will be in the future—keeping in mind, for example, that new MBAs will be equally available in two years. They should also look at which types of talent would take years to replace or develop—for instance, skilled electric utility engineers in an environment where retirements are dramatically reducing supply. Performance management well informed by key strategic questions can minimize the negative cultural impact of downsizing, improve the bottom line, and help identify talented people the company should try to retain.”

It is not enough then just to be doing a good job: your employer must be made aware of it, and must be able to see the depth of your contribution to its business. For you to be able to self-promote effectively, keeping track of your achievements is a key component.