What Is Wrong with Talent Reviews?
Let’s first consider the purpose of talent reviews. Organizations undertake these evaluations in order to assess an employee’s performance and potential in order to plan for the future growth of both the individual and the organization. But the process is broken. We need to improve talent reviews.
The process of reviewing an organization’s talent has important implications for succession planning, talent development, employee engagement, and the retention of top talent. The good news is that over 50% of organizations have a formal talent review process in place for their top performing employees. The bad news is that just as many organizations are struggling to retain top talent.
Almost three-quarters of high-retention-risk workers believe that in order to grow professionally they have to leave their current company. This statistic flies in the face of the purpose of talent reviews. We need to understand how to fix the process.
Four Ways to Improve Talent Reviews
The Bottom Line
Talent reviews are fundamental to assessing gaps and strengths in your talent pipeline. Are you doing all you can to make the process of value to you, your employee, and your organization?
To learn more about how to improve talent reviews, download Why Organizations and Managers Must Reassess Career Development
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