Talent Management - January 2009 - (Page 43)

• Technology can bring positive business value. Eighty-ﬁve percent of companies that implement performance management systems see positive business impact. When companies implement integrated talent solutions, they see two to three times the ROI compared to companies that implement point solutions. This market likely will grow rapidly and have the largest segment of the HR technology market. Selecting the right technology solution can be daunting given the number of providers and the similarity of offerings available. However, factors such as the user experience for employees and managers, global capability, domain expertise, integration points and delivery options are differentiators. • Managers and supervisors remain weak links. Forty-ﬁve percent of respondents said their managers are incapable of differentiating high and low performers; 38 percent of managers feel they do not have the training or support to adequately conduct performance management tasks. Managers are the frontline for all employee practices. They drive the success or failure of any talent management strategy. As employee performance management practices evolve to integrate more fully with career and talent planning, HR must rely on managers to support even more sophisticated practices. Organizations must spend more time coaching and developing managers to be conﬁdent and effective in their roles. • Customize processes to meet needs of workforce segments, geographies and operational units. While enterprise-wide standardization of certain processes drives high efﬁciencies, organizations must account for the unique needs of all workforce segments. Employee performance processes must be designed to address operational, cultural and legal considerations. Leading organizations that adopt a customized approach to process design cite increases in overall satisfaction with employee performance management and increased employee retention metrics. The ability to customize processes is an important characteristic to look for when evaluating technology solutions. It’s impossible to give detailed advice about this complex and critical area of talent management here. Therefore, we’ll focus on three areas: performance management maturity, which can help talent leaders assess an organization and guide planning; talent management metrics; and high-level considerations when purchasing technology solutions. Performance Management Maturity Don’t be disheartened if your organization’s current performance management processes fall below expectations. It takes many years for organizations to develop mature processes and practices. Organizations likely fall into one of the following four stages of maturity: Creating a performance-driven culture — and compensating appropriately within such a culture — is the top business driver identiﬁed by research respondents. January 2009 talent management magazine www.talentmgt.com 43 http://www.talentmgt.com

Table of Contents Feed for the Digital Edition of Talent Management - January 2009

Talent Management - January 2009 Editor’s Letter Contents Human Performance Leading Edge Learning Connections Integrate Web 2.0 Into the On-Boarding Experience Show ’Em the Money: Compensation Trends 2009 Transition at the Top How Hollywood Manages Talent and What You Can Learn Get the Most Bang With Limited Training Bucks Life After Layoffs Attract Specific Talent Groups Performance Management: Its Time Is Now Helping the Helpers Advertisers’ Index Editorial Resources Full Potential

Talent Management - January 2009

For optimal viewing of this digital publication, please enable JavaScript and then refresh the page. If you would like to try to load the digital publication without using Flash Player detection, please click here.