Results Management: Effective People Management to Achieve Excellent Results

Chapter 6. Talent-Management System: Placing the right talent in the right place at the right time

Performance appraisal is, as we have seen, a summative evaluation of the results achieved by the performer at the end of the year. The compensation system recognizes, rewards and reinforces good performance.

An organization needs to achieve results consistently to guarantee its future existence. To do so, it needs to identify, attract, develop, retain, and renew talent. The talent-management system is designed to do of all this. To do it well, it has to serve the needs of both the individual performer and the organization.

The assessment of potential within the organization begins this process. Part of the data for the assessment of potential is gleaned from how the individual has performed under varying circumstances, situations and challenges during the year to achieve (or fail to achieve) the expected results. It is a real-life assessment center, with observations being made on the job.

There are a number of issues that need to be considered when implementing a talent-management system. These include:

• What exactly do we mean by "talent" and "talent management"?

• How is talent management different from career/succession planning?

• In talent management, are we thinking of the top echelon of high potential and star employees, or are we thinking of all the employees in an organization?

• Talent ...