In Brief: An effective talent performance management process involves 1) open, two-way dialogue, 2) feedback and coaching, 3) recognition, 4) attention to training needs and career aspirations, and 5) timely problem solving, according to the blog author.
Our View: Companies that target the top drivers of performance are able to increase employee performance by more than 25%. However, many finance teams misdirect efforts by focusing solely on compensation-driven strategies to reduce turnover. The best companies address their staff’s chief concerns related to non-monetary attributes, including promotion opportunity and the quality of direct managers.
How We Can Help: Review our Executive Guidance for 2011 on “Becoming a Talent Champion” and browse resources on research and technology talent retention and engagement.