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If you are unsure or confused about the buzz over Talent and Performance Management, then you’ve come to right page! Here you can learn all about these important concepts and why they are being adopted by businesses today, especially in the current, volatile economic climate.
Rest assured, we’re not going to dazzle you with technical jargon or dizzy you with industry techno-babble. (However, if at any time you feel the need to look up something, we recommend the Glossary.)
First, some concepts de-mystified:
Talent Management is all about finding, training, maximising and rewarding the people in your company. Today, a company’s worth is built as much on the intangible assets (like the knowledge and skills of it’s employees), as the tangible assets – the infrastructure of the business.
Good talent management involves
- careful and considered recruitment,
- appropriate learning & development management,
- succession planning (i.e. grooming for future opportunities within the company) and
- well balanced, fair and appropriate compensation management.
Performance Management is all about fairly assessing your people. It’s about giving them regular feedback in the form of appraisals, individual performance reviews, annual career councilling sessions, personal progress meetings or whatever else you might call the one to one sessions that your company periodically holds between a manager and their direct reports.
Let’s look at those appraisal sessions in more detail.
Or if you’d rather talk through the concepts with a person, then give us a call.
