Performance Management Vs. Talent Management
As we have just seen, performance management is an initiative that guides employees towards establishing and achieving their goals in alignment with the organization’s goals, whether global or immediate.
Okay, what about talent management? TALENT MANAGEMENT , or people, is the methodically organized strategic process to attract the right talent into the organization and help them grow to their ideal capabilities while keeping organizational goals in mind.
To be clear, let’s say this in other words. Talent management is the full scope of HR processes for attracting, developing, motivating and retaining high-performing employees . Did you understand? Easier, isn’t it?
Therefore, we can see that there is a difference in approach between the two things. Performance management is something more focused, more oriented to the performance of the employee, in the position he occupiesTalent management, on the other hand, takes a broader view, going from the moment of hiring to the moment of engagement and retention.
Performance Management Vs. Performance Evaluation
As the name implies, performance evaluation is not a management model, but a strategic action to measure and understand the performance level of your employees . In other words, it is a measurement tool, used to collect data that will be used later in the implementation of performance management.
Therefore, it is the kick-off, the basis of management. After all, as we said in the previous topic: to manage is to measure and improve . It all starts with measurement. And, in the case of performance management, it all starts with its evaluation.
Why Is Performance Management Important?
Putting it simply and directly: performance management exists to improve your company’s performance! And how do you do it? Improving the individual performance of employees and teams .
This individual improvement is the key to collective improvement. It’s no use just measuring the performance of the entire sector once a year!Is it an important report? It is yes, but also very thin, with extremely comprehensive data. It is very difficult to identify the problems and know exactly where you can improve with this type of macro analysis.
Therefore, performance management complements the annual performance review . It keeps both the manager and the employee informed about changes underway in the management process, what they can both do to streamline it, and how overall performance can be improved.
Metaphorically, we look at the bridge as a whole. Then we look at each girder on the bridge . If one is a little weak, we seek to strengthen it. After all, we don’t want the bridge to fall, right? And a bridge is basically composed of beams.