Session 4 Performance Management System – Performance Review and Appraisal Process 30th May '11 1 GMB 6070 - Session 4
Presentation Plan The Strategic importance of talent management Performance appraisal process and methods Performance appraisal challenges Promotion, transfer, and separation management Team work topics 30th May '11 2 GMB 6070 - Session 4
Talent Management is also known as Human Capital Management (HCM). Is the ability to attract, onboard and retain highly skilled profitable employees. It involves development of skills of new as well as existing workers. Is developing and retaining employees to meet immediate as well as future business needs. Is the ability to shift the responsibility of employees from the human resources department to all managers throughout the organization. 30th May '11 4 GMB 6070 - Session 4
Focuses on the role of leaders in developing the workforce to assume future roles and assignments. Is about winning the war of talent because organizations have become aware that having and retaining the best talent assures them of success in the emerging hypercompetitive and complex global economy. Is the awareness that management of talent is critical in the achievement of outstanding business results. A mistake made incorrect hiring has been computed to cost fifteen times the employee's salary in loss of performance optimization. 30th May '11 5 GMB 6070 - Session 4
Inability to pick the right candidate arising from lack of proper selection tools.
30th May '11 GMB 6070 - Session 4 9 Effective talent management is not just about attracting, developing, and retaining the best; it is also about organizing and managing people so that they perform in ways that lead to excellent organizational outcomes.
Influencing strategy implementation to impact effectiveness
30th May '11 GMB 6070 - Session 4 11
Having competency based hiring system can help out.
However it is critical to be quite clear about the correct role and competencies required for a position.
Looking at the expected outcomes can give a fair idea of the required competencies.
30th May '11 GMB 6070 - Session 4 12
A 2005 study on global human capital found that chief HR officers (CHROs), are "chief talent architects,”.
HR plays the role as strategic business advisors by leveraging human capital to improve organizational performance and workforce effectiveness.
HR Architecture Employee Selection and Placement System Compensation, Reward & Recognition System Performance Management System Talent Management System Learning, Growth & Succession System 30th May '11 13 GMB 6070 - Session 4
These factors—coupled with the need to align people directly with corporate goals—are forcing HR to evolve from policy creation, cost reduction, process efficiency, and risk management to driving a new talent mindset in the organization.
Session 4 Performance management Process 30th May '11 23 GMB 6070 - Session 4
Paired comparison analysis is a good way of weighing up the relative importance of options.A range of plausible options is listed. Each option is compared against each of the other options. The results are tallied and the option with the highest score is the preferred option.
Graphic Rating Scales
The Rating Scale is a form on which the manager simply checks off the employee’s level of performance.This is the oldest and most widely method used for performance appraisal.
This method asked managers / supervisors to describe strengths and weaknesses of an employee’s behavior. Essay evaluation is a non-quantitative techniqueThis method usually use with the graphic rating scale method.
Behaviorally Anchored Rating Scales
This method used to describe a performance rating that focused on specific behaviors or sets as indicators of effective or ineffective performance.It is a combination of the rating scale and critical incident techniques of employee performance evaluation.
360o Feedback is a system or process in which employees receive confidential, anonymous feedback from the people who work around them. This post also include information related to appraisal methods such as 720, 540, 180…
Forced Ranking (forced distribution)
Forced ranking is a method of performance appraisal to rank employee but in order of forced distribution.
For example, the distribution requested with 10 or 20 percent in the top category, 70 or 80 percent in the middle, and 10 percent in the bottom.