Best practices in talent management
Best practices in talent management, Special advertising supplement to Workforce MANAGEMENT, 14 December 2009 and 6 June 2011.
Does Your Global Performance Management System Perform Where it Counts? (Workday, 2009)
In order to maximize global productivity, a company should consider three specific criteria when evaluating a global performance management solution:
- The ability to enforce consistency across the global workforce,while still allowing flexibility to accommodate regional and cultural differences.
- The ability to roll up and review performance feedback across the entire global workforce for clarity and insight into which areas and teams are contributing most substantially.
- Well-defined transparency between personal and group performance results and their financial impact for the company.
Consistency vs. Flexibility
- A company’s success is based largely on aligning employees with company goals, and the ability to consistently measure whether those goals are being met.
- Companies also need to give different groups and regions the freedom to determine the optimal approach for their own success.
Learn From the Best
After performance data is collected, it is critically important for companies to analyze the results comprehensively to and gain a clear picture of the teams, groups, and departments that are performing beyond the standard set by the others.
- To identify and reward the parts of the organization that are most dramatically contributing to the company’s success
- To take best practices from these individuals and teams to help other employees and teams learn how to perform more effectively
Having a consolidated view also helps to identify struggling teams and regions.
It’s All About the Bottom Line
The critical, and often missing, third criterion :
- the ability to help companies understand the connection between the productivity of each team and the impact on the financial success of the company.
Talent Information is Business Information (Peopleclick Authoria, 2009)
Good data, properly distilled and analyzed to become information is a decision maker’s best friend.
Decisions about talent should be made the same way as business decisions.
Linking Learning to Talent Management: The Key to Accelerating Workforce Performance (SkillSoft, 2011)
Since the current economic cloud darkened our horizons sometime in 2008, the focus of talent management discussions has shifted from impending talent shortages to concerns about the here-and-now.
With smaller workforces, organizations have had to accelerate development of new hires and cross-train experienced workers to cover more needs.
Talent management software may help to streamline processes and automate time-consuming activities like performance reviews, but automation in and of itself does not necessarily improve organizational performance. Only learning changes behavior.
In order to optimize development across the organization, there needs to be a link between job roles and learning.
For Small and Midsized Businesses Taking the Performance Review Process from Painful to Productive (SuccessFactors, 2011)
HR, executives and employees have one thing in common: They dislike performance reviews.
So it’s little wonder why so many forward-thinking small- and mid-sized businesses are discovering automated performance review and goal management solutions.