How to Set Up a Talent Management Program Part 1 of 8
How to Set Up a Talent Management Program
A good performance management program encourages employees to aim and achieve beyond their capacities.
Employee performance appraisal constitutes a major part of performance management.
This involves development, goal setting and a two-way feedback that allows employees
to set ambitious objectives without the fear of being criticized.
Employee performance appraisals along with performance management is a procedural interaction between an employee and a manager that usually
takes place like an interview (semi-annually or annually). The employee appraisal process is significant because the employee's performance
is discussed and investigated in order to identify the strengths and weaknesses along with the scope for future improvement or skill development.
Subsequently, the employee's performance will boost organizational prosperity and performance after the appropriate changes and corrections are made.
There are some steps, which feature in every performance management program. These are-
Basic Timeline
Performance reviews are conducted annually for most companies. Many organization, though, are experimenting with its frequency.
Some are conducting it semi-annually while others conduct it quarterly.
Some of the advantages of frequent feedback sessions are-
- The employee and the manager are on the same track relating to goals and other issues
- Performance reviews are integrated in daily performance
- The overall burden of the annual review is reduced considerably
Continue to read part 2 on How to Set Up a Talent Management Program.
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