Performance Management

Talent management is an integrated system is software solution that covers the full scope of talent management, namely: recruitment and employee onboarding, performance management, learning and development, compensation management and succession planning.  Research indicates that company with a very effective talent management system outperform competitors, compared with 56 percent of all other respondents. And the effects may be cumulative, given that abilities to attract and retain talent seem to support outperformance as well.

Three practices are most closely linked with effective talent management:

• rapid allocation of talent—that is, being able to move people among strategic projects quickly as priorities emerge and fade.
• HR’s involvement in creating a positive employee experience.
• a strategically minded HR team

According to the research, organizations with all three practices in place (only 17 percent of the sample) are vastly more likely than their peers to say that overall performance, plus total shareholder returns, has an edge on their competition.