Performance Reviews Are About to Change

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The “War for Talent” is on and becoming highly politicized by the movement for immigration reform. Indeed, in certain sectors, growth is being held back by the lack of talent. In fact, many HR professionals are looking at the need to internally develop the talent they need. However, just academic and past experience do not tell the whole story of how to measure existing or potential talent.

Many innovative companies depend heavily on project collaborations across the enterprise or in conjunction with outsource partners. Indeed, many groups are not located at the same location or continent. Not only can this cause problems, but also makes it difficult for supervisors to perform credible employee reviews. Besides, most reviews are highly subjective. When HR is looking to fill job positions, they depend heavily on performance reviews to make promotional decisions or on whom to invest training dollars. Not only that, many question if the persons doing the reviews are really qualified to judge the work, attitude, strengths and weaknesses of those they review? Well, that is about to change.

With the development of new SaaS (Software as a Service) programs that can integrate with existing ERPs (Enterprise Resource Planning), HR departments can now implement a way to develop a quantitative data profile on individual employees based on daily peer and supervisory input. Indeed, those who work regularly and directly with employees may be in a better position to determine skill levels, collaborative communications skills, attitude, and any other number of relevant job requirements. Such new programs allow peers to input ratings on a regular basis based on peer performance evaluations. Over time, a quantitative data profile can be developed on each employee that will provide an objective assessment of the strengths and weaknesses of employees.

Supervisors and HR departments can see where certain skill sets rate high as well as low. Of course, those employees who have a high frequency of high ratings for certain skill sets can be matched to projects with those requirements as well as identifying those employees who have recognized leadership skills by those they directly work with outside of the scope of supervisory impressions.

Those employees who show a pattern of weak input can be singled out for training and development. Moreover, human nature being what it is, when employees know that they will be peer rated, one might conjecture that cooperation might be improved. Indeed, this can show up as measureable ROI. Everybody knows that re-work is one of the most insidious hidden cost that exists. Indeed, closer collaboration and higher levels of commitment can show up in less rework; something that most companies don’t track closely enough. Project managers define roles and expectations but as a project evolves, things can change and oftentimes it is the workgroup members who know well before the PM. PMs and group members who understand each other’s strong and weak suits, can work more effectively to accomplish the project goals.

When it comes to developing talent, well, a skill rating tool is essential. Louis Carter, the CEO of one of the new HRD (Human Resource Development) tools, states that once this format is adopted, HR will be very happy when it comes to selecting new hires or developing in-house talent. Carter goes further when he states that in the future, hiring agencies as well as HR department heads will-by popular demand- adopt this type of tool to facilitate the hiring success rate as well as to identify and develop in-house talent.

Skill rater Dashboard

Management has the ability to customize what skills are to be rated as well as maintaining privacy and security.

 

Additional Reading

How to Achieve Operational Excellence in the Private Equity Industry

In Performance Appraisals, Make Context Count 

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