The Good, the Excellent and the Potential: Talent Performance Management
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Nowadays performance management is considered to be a very important tool of talent management in helping organizations to retain and develop employees. It is used in order to determine compensation and rewards, to identify training and development needs, to assess the potential organizational growth and necessity for competencies’ development in accordance with strategic objectives, to provide feedback to employees and to place the right people in the right place—once again, to match organizational needs with individual knowledge, skills and abilities. As a variety of performance evaluation methods exist, it is important for companies to develop the ‘right’ one that fits well with existing managerial practices and organizational objectives. Based on this idea, a link between individual performance, evaluation and other talent management practices may be found.