Performance Management and Talent Development
Performance management and talent development both are critical to the continued success of your business. When employees see how their work contributes to organizational achievements and have the opportunity for continued development, they’re more engaged and inspired in their work.
Performance improves when individuals do work that aligns to the business objectives and they do good work when they know what is expected, receive continuous feedback, and are provided with the resources needed to succeed.
Companies that don’t properly manage performance and develop their talent may not only end up losing their workers, they could also lose money. According to a study by the Center for American Progress, losing an employee making $45,000 per year will cost an organization $15,000 to find and train a new worker.
Performance Management and Talent Development Tools
Should your organization not have formal performance management or talent development processes in place, or have processes which are not effectively enhancing your business results, Marzano HR Consulting can work with you to decide the best approaches to utilize.
360 Degree Feedback
A process of collecting pertinent information from an employee’s supervisor, colleagues and subordinates regarding their work-related behavior and its impact.
Evaluating an employee based on identified competencies the company has identified as crucial for success.
Used to ensure managers apply similar standards in measuring and evaluating the performance of subordinates. This ensures a level playing field by neutralizing the effect of tough graders and easy graders on performance appraisal ratings.
Performance Development Plans
Intended to assist in an employee’s growth and are best utilized when developed by the supervisor and the employee in tandem. Used to develop a certain skill or competency through formal classroom training, or conducted more informally, possibly through on-line resources or via a mentor.
Evaluates an employee’s current and potential level of contribution to the organization. It is most commonly used in succession planning as a method of evaluating an organization’s current talent and identifying potential leaders.