Current Trends in Talent Management
February 12, 2025
Advantages of 360 Degree Feedback It encourages participation of all and thus makes HR decisions more qualitative. It pinpoints the favoritism and biases of the supervisors present in conventional appraisal systems. The employees find 360 degree feedback more acceptable than the traditional feedback approaches. 360 degree feedback is more impartial and objective than a one-to-one […]
Why Graduates are Flocking to Startups In recent years, many fresh graduates as well as experienced professionals want to work for startups as they feel that by doing so, they would be adding value to themselves as well as being part of an exciting and creative journey. The first aspect about adding value for themselves […]
Skills, Experience and Performance This is the basic determinant of the pay that is given to an employee. This is the entry-level criterion wherein the skills of the employee are first determined and the pay fixed accordingly. Next, the performance of the employee during the appraisal period forms the basis for the salary hike and […]
There are numerous opportunities to make money online and there are an equally large segment of professionals, freelancers, stay at home persons, retired personnel, and students vying for these opportunities. Indeed, a simple Google search for making money online would throw up millions of results with the results showing everything from simple task-based jobs to […]
Imagine a situation where you have to sell jobs for your organization to individuals who have many lucrative job options in hand, what would you sell the job for or would you actually be able to attract the right talent towards a certain job! Every organization wants the best talent onboard, but how many of […]
Performance management is an integral component of talent management that is aimed at ensuring that organizational goals are being met effectively and efficiently through individual and collective performance. It can thus encompass an individual employee, a department, a team, or even a process to build a service or a product.
Dr. Aubrey Daniels in late 1970’s used this term to describe a science for managing and enhancing both behavior and the results. It is this behavior and results that amounts to the performance of an employee. This is primarily achieved through attitudinal interventions. It was also defined as a strategic and integrated approach to increasing the effectiveness of organizations by improving the performance of the people who work in them and by developing capabilities of teams and individual contributors (Armstrong and Baron - 1998).
Performance management is most often used in professional organizations where the results and behavior of a certain course of actions has financial implications. Otherwise we can use it anywhere we wish to or enhancing people performance like sports, education, NGO’s, anywhere where there is an interaction between people.
Through performance management, organizations aim to align personal goals of employees with organizational goals and increase the overall efficiency, productivity and profitability for the larger benefit of the latter. There is no cap to the number of individuals on which it may be applied. It can be applied to one single individual or the entire department.
Typically the following steps are involved in performance management:
In commitment analysis a job mission statement is made for each job or process which is a job definition in terms of product, scope and purpose. Here the key objectives are outlined and performance standards are set against the same.
Work analysis follows next; this underlines the reporting structure and job description. Finally performance standards and expectations are set against each job or process keeping in view the efficiency and effectiveness both.
Employee performance management is of key benefit to organizations in helping them realize effectively the strategic and operational goals. In organizational behavior lexicon, performance problem is a gap between desired and actual results and performance management seeks to address just the same problem. There the effort is called as performance improvement. The guidelines that determine whether or job is being carried out effectively is based upon factors like whether the work is planned and clear expectations are set, work performance is monitored, staff is trained and developed continuously for a certain job etc.
The benefits of performance management are both financial and non financial in nature. Financial benefits include growth in sales, reduction in costs incurred, organizational alignment with the vision and mission, decrease in lead time.
In addition the workforce is motivated to a greater extent, employee engagement is enhanced, the incentive plans are optimized as per specific target or goal achievement and the importance professional development programs is better understood and made used of in learning and development. The management gains more control over its human capital, a transparency is ensured, work efforts are rewarded befittingly which boosts employee morale.
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