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 Does your organization consider Employee Performance Management a laborious, tactical annual practice, or is it a strategic, business-critical cycle? Maybe it’s time to reassess.
Now more than ever, HR professionals like you are tasked with optimizing Employee Performance Management processes across the board to ensure the most efficient use of corporate resources. Employee Performance Management has the power to accelerate time-to-revenue, reduce risks, and help your organization proactively address threats and opportunities.
What you will learn: How to derive real value from Employee Performance Management
# How HR can help align an organization’s goals &
# Best practices for successful competency management &
# Five costly succession planning errors to avoid &
# How to manage compensation during the economic crunch
Download The Pillars of Employee Performance Management
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eBook & strategy manual for leveraging Employee Performance Management in your organization.
Geographic Eligibility: USA, Canada
Offered by: SumTotal
Table of Contents
Introduction ............................................................................................................................. 2
Deriving Real Value from Performance Management ................................................................. 3
Performance management provides the keys to the castle ..................................................... 3
Look to the future ................................................................................................................. 3
Mine the data ........................................................................................................................ 3
Focus on employee development ........................................................................................... 3
Put your competencies to work.............................................................................................. 4
How HR Can Help Align an Organization’s Goals ....................................................................... 5
Know the goals ..................................................................................................................... 5
Get buy-in ............................................................................................................................ 5
Cascade goals ....................................................................................................................... 5
Ensure consistency ................................................................................................................ 5
Hold everyone accountable .................................................................................................... 5
Reinforce through development ............................................................................................ 6
Work the gaps ....................................................................................................................... 6
Encourage year-round communication .................................................................................. 6
Monitor compliance .............................................................................................................. 6
Measure twice, cut once ........................................................................................................ 6
Best Practices for Successful Competency Management ............................................................ 7
Consolidate the core ............................................................................................................. 7
Specialize .............................................................................................................................. 7
Develop profiles .................................................................................................................... 8
Set proficiency levels ............................................................................................................. 8
Communicate competencies across the company .................................................................. 9
Apply competency data for appraisals and rewards................................................................ 9
Analyze and add value .......................................................................................................... 9
Don’t just assess competencies, develop employees .............................................................. 9
Guide career development and succession plans ................................................................. 10
Recruit with competency in mind ......................................................................................... 10
Succession Planning: Costly Errors to Avoid ............................................................................ 11
Five common mistakes—and how to avoid them .................................................................. 11
Unified talent development optimizes succession planning .................................................. 12
Compensation Management during the Economic Crunch ....................................................... 14
Align compensation with performance ................................................................................. 14
Eliminate any opportunities for error ................................................................................... 14
Use alternative incentives .................................................................................................... 14
Stay in touch with the market .............................................................................................. 15
Involve your managers ........................................................................................................ 15
Conclusion ............................................................................................................................. 16
Introduction
Human Resources (HR) professionals know that performance management is vital to the success of business operations. But our world today is full of variables—including technology changes, economic slumps, and a shift in worker demographics. As a result, performance management is increasing in both importance and complexity.
Now more than ever, HR professionals need a clear understanding of the components of performance management, and the role each of those components plays in helping to optimize business results. With better insight into many key areas of performance management—from compensation and competency management to succession planning and beyond—businesses will be ideally positioned to align, engage, retain, and develop their workforce talent for the good of the company, today and into the future.
About the Author
Richard Oyen
Richard Oyen directs SumTotal’s Customer Value Program, giving customers the practical advice they need to get the most from their talent development initiatives. Richard has over 20 years of experience in HR and Performance Management with renowned companies such as Oracle, Walgreens and Keynote Systems.
Richard has also worked as an Adjunct Professor of Human Resources Management at the University of San Francisco. He is SPHR certified and has both a BS from the University of Minnesota and an MBA from the University of San Francisco.
About SumTotal Systems, Inc.
SumTotal Systems, Inc. (NASDAQ: SUMT) is the market leader and global provider of talent development solutions.
SumTotal deploys mission-critical solutions designed to drive learning, align goals, develop skills, assess performance, plan for succession and set compensation.
SumTotal’s solutions aim to accelerate performance and profits for more than 1,500 companies and governments of all sizes, including six of the world’s 10 biggest pharmaceutical makers, six of the 10 largest automotive companies in the world, four of the five branches of the U.S. Armed Forces, three of the world’s top five airlines, five of the six largest U.S. commercial banks and two of the world’s top five specialty retailers. Mountain View, Calif.-based SumTotal has offices across Asia, Australia, Europe and North America.
For more information about SumTotal's products and services, visit www.sumtotalsystems.com.
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