Performance Management in Talent Development
Although industries remain rightly focused on stopping the hemorrhaging of talented workers, focus can dim on proper talent development. Specifically, performance management in talent development can surrender to a do whatever attitude to avoid losing another employee. But good performance management can benefit the business and the employee, as many report lack of communication with management as their chief reason for leaving. Below is a brief of the performance management cycle from the Office of Personnel Management.
Planning & Monitoring
“If You Fail to Plan, You Are Planning to Fail.” Ben Franklin had it right. Effective planning for workgroups and individuals sets them up for success through clear performance expectations that help them focus their efforts. Consistently measuring performance, providing feedback, and eliminating barriers to success are the hallmarks of successful monitoring. It’s up to management to clearly define expectations and provide monitoring that doesn’t distract from the work effort.
Developing & Rating
Proper development is critical to improving performance at all levels. Good development involves offering training and assignments that introduce new skills and a higher responsibility level that encourages good performance. Effective employee rating goes hand in hand with proper expectations. Measuring your employee’s performance against a good plan helps everyone identify strengths and areas for improvement in the review process. Best of all, when measured against a performance plan, a performance review loses its traditionally antagonistic character.
Rewarding
In a world of dollars and cents, gratitude is becoming a lost art. But recognizing an employee’s contributions at the individual, workgroup, and company level are vital. Increased compensation, company-specific rewards programs, or even a timely and sincere “thank you,” can make all the difference. Recognition and reward are ingredients of thanks that have existed since time immemorial. Even if every other element of performance management is in place – planning, monitoring, developing, rating – the system collapses if the rewarding component falls short.
Performance management in talent development can stem the tide of burnouts and walkouts. People want to develop their careers and feel good about what they do. Feeling good means setting and meeting goals, developing their skill sets, and being rewarded for a job well done. Employers can foster or handicap this process.
If you are interested in learning more about getting the best IT talent in the Dallas metroplex, BCT specializes in recruiting IT talent in Dallas, Ft. Worth, and North Texas. So if you are looking for a rewarding career, contact us today.