7 Talent Management Practices to Help You Survive a DownturnMay 7th, 2009 |
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As HR professionals, there’s a lot we can do to help our organizations weather an economic downturn.
In all honesty, good talent management practices are important to corporate success in any economy. After all, the whole purpose of talent management is to help your organization get the most from its most valuable resource - its people. And in case you needed it, there is ample research available that finds companies who implement integrated talent management practices consistently outperform their peers.
With this in mind, here are seven talent management practices that can really have an impact on employee performance and your company’s bottom line:
- Align individual and organizational goals and effectively track their progress.
- Conduct regular employee reviews to keep employee performance on track.
- Provide ongoing feedback to maximize performance.
- Invest in performance-based development.
- Identify and reward high performing employees.
- Have a succession plan.
- Be as efficient as possible.
To get more detail on each of these practices and learn how they can be of strategic value to your organization, particularly in an economic downturn, read our reference article 7 Talent Management Practices to Help You Survive a Downturn.
What do you think? Are there other talent management practices that should be added to the list?
Tags: employee performance reviews, succession planning, talent management





