Sunday, July 3, 2016

Integrating Performance Management and Talent Management to Achieve High-Professionalism

It is difficult to have a highly competitive organization without highly professional and competitive talent.

People are always the most invaluable asset to the organization. However, in most companies, people management are silo disciplines and outdated practices. In order to strengthen the weakest link - people and advocate high-professionalism, how can organizations integrate performance management and talent management to a holistic solution to get people digital-ready, to unleash their potential and inspire innovation?

Performance Management (PM) and Talent Management (TM) are connected. Talent Management (TM) refers to the anticipation of required human capital for an organization and the planning to meet those needs, focuses more on the people element of the organization; where  Performance Management is a significant management discipline in the business system. PM supports the organization, TM 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 a high-professional and high-performance business culture. TM cannot work in a silo, it has to be well aligned with the overall strategic performance management system of the organization and supporting the PM. PM has KPIs that help to drive behavioral elements. TM has KPIs that help to drive cultural elements. When organizations well align the behavior and cultural elements, you have a winning combo.

The combination of PM and TM elements makes a business successful. PM is a perspective to the organization, TM is the perspective of talent. It's true that the organization pays the dollars, but the talent is the most valuable asset in the organization, perhaps the weakest link in execution. It is a successful culture that makes for a successful organization too. Because the business culture decides how you manage or engage associates in your organizations, how you communicate organizational objects or goals. Both PM and TM are important in any organization if functions and objects are aligned properly. PM is about building sustainability in the organization; and TM is about building talent professionalism and competency of the business -finding, renewing and protecting the right of talent. Unless the right talent is there, Performance Management cannot salvage sustainability.

PM and TM are one system with both hard elements and soft element in it: PM helps businesses define the needs of the organization, and TM helps to fulfill them by developing and training. Coaching and mentoring the employee to perform well, which does impact the culture overall. There are numerous business intelligence solutions which are integrated with customized modules that help organizations effectively to perform at their best. Performance Management System can significantly impact on organizations and it works for each leader, manager, and employee. PM and TM is one system and software with the set of different modules that track to measure the employee's performance as well as help to shape business culture and make the engaged workforce.

It is difficult to have a highly competitive organization without highly professional and competitive talent. Although PM and TM are different management practices, they are interconnected. In any mature organization, both functions are interdependent and works for overall organizational objects and achieve long-term business visions and strategy via the overall alignment of various organizational functions. It's an integral people management practice that does not have hard coded programming like other business systems, but directly drives corporate mindset, attitude, capability, and long-term achievement.


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