The Basics of a Talent Management Program
Performance management programs include everything supervisors and managers do in order to plan, observe, appraise and improve their employees’ performance. Although a performance management process may vary, depending upon organizational culture and needs, there are a few basic stages that are common to all.
This is the first stage of a performance management program and usually includes some sort of goal setting and creation of developmental plans. Implementation of a performance management program involves taking an employee’s view towards the organization. Since each employee has unique abilities, a team wide skills inventory should be maintained in order to meet future goals more effectively. Efforts should be made to bridge the performance gap between groups and to standardize the organization.
One of the most crucial aspects of planning involves setting up an employee training program in order to develop and train employees to improve their performance. This will increase the overall potential of the company along with its efficiency, thereby increasing profits. The company can grow and operate in a much better way when the employees perform in a better manner.
The process involving the scrutiny of employee performance is the second stage of the performance management program. This is a continuous process, which involves testing the progress of the employees’ product they create or service they perfom, at a random or pre-determined time. Based upon the progression analysis, an employee is given regular feedback on tasks that are performed well and those that require improvement.
Feedback and assistance
This stage involves providing continuous advice to employees in order to solve their performance related problems and help them to strengthen existing competencies or develop newer ones.
This is the fourth stage of the program involving review of performance-related documents, obtaining feedback from other employees and co-workers, evaluation of employee performance during the reviewing period and creation of a written appraisal document containing goals and performance competencies. A progress report is created after setting up goals which is discussed with the employee. No subsequent action is taken when the employee is about to achieve the company’s objectives. More goals might be added in case the employee is far ahead of schedule. Additional guidance is offered in case the employee’s performance is a cause for concern.
The final stage of the program involves the employee’s performance evaluation for the pre-determined period. Employees may receive a promotion or another form of compensation in case they have been able to meet their set goals. On the other hand, the employer re-evaluates the need for their services in case they underperform. The employer also discusses the performance review documents with the employee to create future plans and goals.
There are five stages in a performance management program namely
- Feedback and assistance
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