by Teena Thimothy on 2 Apr ’14
In today’s world of cutthroat competition, companies are putting tremendous effort to hiring of skilled talent. However, to gain the needed competitive edge and survive in these dreaded times the real question is, “Should companies be fighting for limited raw resources or alternatively, should they be investing time in developing the relevant competencies in their existing employees?”
Talent assessment processes assists in analysis of the skill gap in your employees, and develop programs to bridge that gap by benchmarking with the current and future needs of the organization. Periodic Talent assessment enables organizations to reassess their current competency pool, update it and have the audacity to make the necessary changes to enhance the organization’s workforce management strategy.
The level of proficiency required in performing a said task to yield an effective output with optimum resource usage takes more than just identifying the gap in the employees’ skill set. For your organization to be the leader in its domain, your firm needs to define the set of core competencies, which corresponds directly with your key market differentiators.
HR has entered into a new age; this is the era where technology has taken a front seat. By automating your transactional HR workflow, skills assessment becomes easier. By changing from the old age HR culture will help you achieve highly optimized results, which identify talent, revolutionize performance reviews, and take them to the next level.
Periodic Talent Assessment empowers organizations to understand the in-house employee capability. This will enable charting of right resources to deliver quality output. It will invariably save on multiple factors – time, effort and cost attached with acquisition, training and delivery performance, spent while combating for raw talent from the outside world. Thus supporting the organization to achieve its principle ultimatum – that much-needed competitive edge to sustain and emerge a leader in such turbulent times.
Evaluating competency aids in analysing any gaps that may exist between your current workforce and long-term goals of the organization by making available right-training programs to nurture the talent pool, providing link to the development of an individual paralleling his growth with that of the organization and not just with rewards.
Talent assessment becomes easier to communicate across the company and hold people accountable to their goals when automated with tools like SuccessFactors’ Performance and Goal module.
SuccessFactorsPerformance and Goal automation module provides you with a SMART Goal Wizard, which enables you to quickly assess everyone on your team – in real time. It will instantly see your team ranked from top to bottom, identify your top players, cultivate them, and spot your lowest performers. There is no concept of tie scores. It supports legal check and eliminates subjectivity.