Gmb 6070 session 4 - may 30th (fil eminimizer)Presentation Transcript
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
Strategic importance of talent management 30th May '11 GMB 6070 - Session 4 7
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Mistakes in recruitment will occur when the hiring crew is unclear on a number of hiring issues:
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.
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The best way HR can add value to corporation competitiveness is by being a business partner i.e. by directly improving the performance of the business.
This can be accomplished through:
Effective talent management
Helping with change management
Influencing strategy implementation to impact effectiveness
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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.
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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
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A clear path outline from the beginning will give a lot of confidence to new employee as to where he/she is now, what he/she has to do and if he/she does it where he/she will reach.
It is important for HR to develop a robust on-boarding program for every new employee
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It is also important for HR to educate top management on the link between the talent management cycle and the cost of turnover.
For example, an employee's decision to stay or leave is related to career possibilities in the company as well as how he or she can become better prepared to move to other opportunities.
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HR must engage function managers to develop and define jobs, job relationships, and performance control systems in order to achieve performance excellence.
Session 4 Challenges and Issues in Talent Management 30th May '11 17 GMB 6070 - Session 4
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Workforce planning and management.
Motivation of staff at all levels in the org structure.
Managing mid-career employees.
Managing variances in different generations
Keeping “A” performers productive.
Developing and implementing effective PIP programs.
Retaining talented employees.
Developing effective organizational culture.
Engaging employees productively – work life balance.
Implementing leadership development programs.
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Other workforce issues include:
Heightened competition for skilled workers.
Effective succession plans.
Managing high turnover cost.
Integrating and managing global workforces.
Off-shoring and outsourcing trends.
30th May '11 GMB 6070 - Session 4 20
Taleo’s graphical representation emphasizes the mandate of talent management to respond to business goals and consequently be the driver of business performance.
Talent management is depicted as a circular—not a linear—set of activities.
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
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Performance management provides the ongoing processes and practices to maintain a stellar workforce.
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.