Check out this post on KnowHR on a study from Institute for Corporate Productivity on how companies handle their high performers. The survey found that 70% of companies identify their high performance workers... which is great, because it means organizations are taking steps towards retaining their top talent.
However, the survey also shows that while organizations take the time to identify these workers, many organizations don’t do much with that information. In a climate where attracting and keeping talent is increasingly difficult, organizations, regardless of their size, cannot afford to leave this information languishing. Information is powerful, particularly when it comes to your top performers.
A solid employee performance and talent management program should be designed to not only identify these employees through performance appraisals. This information should then in turn be used to reward them through compensation driven programs such as pay for performance and plan for their future through talent pool driven succession planning. Taking performance management beyond the information of the appraisal process isn’t a nice to have at this point - it is the difference between success and failure in the long term.
Take a look at how you are using your appraisal information in your organization. Are you using that information to drive organizational goals, and keep top performers happy? We’d be interested in hearing about how organizations are taking this information and turning it into a powerful retention strategy.
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June 30, 2008 8:15 AM
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Summer's finally here! The great days of backyard BBQs, soaking in the sun, and kicking back with the kids are upon us... But most of us still have to work, at least a little bit. So, what's your focus for these long summer days at the office? MORE
Automated employee performance tool helps zoo focus on high achievers Category: Performance and Talent ManagementGoal ManagementSuccession PlanningPay for Performance
The Zoological Society of San Diego operates the San Diego Zoo, a wild animal park and several animal hospitals and research facilities for endangered species. They have 2,400 year-round employees and approximately 3,000 employees during the summer. Born in the early 1900's, the Zoo has a long history, and an engrained culture. In 2005, the organization implemented a new strategic plan. Part of that plan included more employee accountability, and a focus on employee recruitment and retention. Tim Mulligan, their Director of Human Resources, was brought on board to propel the Zoo with an enhanced employee performance process. MORE