The value of an individual is measured based on productivity, creativity, and contribution to the organization today and tomorrow.
People are the most invaluable asset in the business, however, in many organizations, talent management, and performance management are dysfunctional, silo, quantity-driven and short-term focused, lack of holistic approaches to managing performance, innovation, culture, and talent more cohesively. So what are the set of principles to follow in managing today's digital workforce effectively?
Long-term Perspectives: Workforce performance improvement must take the long-term view and may require a core DNA transplant. There is no single initiative or program or the "theme for the year" that will suffice to raise the performance of a company or business unit. The key, of course, is not to choose one path over the other, but to tailor the solutions depending on the situation and advantages you want to gain.
Future-Driven: The purpose of reviews is improvement about the future. The past is over. Move the purpose of performance reviews away from "evaluating" the past, and to improving success in the future. The only reason to do the performance management process is to work with employees to improve their performance regardless of current level, so they can better contribute to organizational goals. HR not only make ‘Apple to Apple” comparison but also manage “Apple to Apple Pie” style insightful talent analytics.
Measure thinker performance and doer performance differently but objectively: The effective talent management next practices should be more structured and focus on digging deeper into mindset level. Both "ends" and "means" must be balanced, so you can easily and consistently differentiate future high performers from the mediocre mindset in your organization. Performance assessment is a combination of many factors and shouldn't be quantified so easily. Behavior and outcome are all important elements in performance assessment. Value the thinker who can translate his/her thinking to deeds. The thinkers that do and inspire others to do is a true leader.
Encourage creativity: Create a measure that assesses the different dimensions of organizational creativity adequately while keeping it general enough to assess this in a wide range of organizations and job roles. People have to be given the opportunity to be creative, they have to become empowered. Business leaders obviously aware that a quantitative measure would not be a perfect solution, but the importance of creativity for organizations is well-known, it’s important to find an adequate way of assessing the concept in the workplace.The convergence of performance management and talent management: Performance management supports the organization. Talent management supports the culture. They work hand-in-hand. The performance management system takes a top down synergistic approach from the definition of vision, mission, corporate objectives, policies, procedure, critical success factors, KPIs...etc. In order for people to achieve these, the organization needs to provide appropriate training to its talent (people) and build high-performance business culture. Talent management cannot work in a silo, it has to be well aligned with the overall strategic performance management system of the organization and supporting the performance management.
The value of an individual is measured based on productivity, creativity and contribution to the organization today and tomorrow. Avoid falling into the value assessment trap and looked at each person as a valuable team member, the value is multidimensional and situational; there is a tangible value and intangible value as well. and follow the set of talent management principles in adjusting, realigning roles and responsibilities and optimizing output - making the best use of all of your valuable people.