Turning Performance Reviews into Smart Succession Components

Transcription

1 PART 2 Turning Performance Reviews into Smart Succession Components 1. ESTABLISHING COMPETENCIES 2. DISCOVERING TOP TALENT 3. DEVELOPING A LEADERSHIP PIPELINE The Simple Guide to Succession Planning

2 You ve developed your competencies. Now what?

3 Time to make a plan Evaluating competencies plays a key role in your ability to discover your high performers and leadership candidates some of whom may be hiding in plain sight. Yet the effectiveness of your evaluations on succession planning hinges on more than assessing potential once a year. How can something as simple as smarter competency evaluations lead to smarter succession planning? It all begins with rethinking performance reviews. Your Cornerstone talent management suite enables you to confidently ditch one-off employee evaluations in favor of continual performance reviews that more accurately tie in to and inform succession planning. Performance reviews geared toward smart succession planning are:

4 Frequent Your employees should always know how they are doing and where they can improve. Even if you do annual reviews, there should be no surprises or new information, as evaluations should be an ongoing process. Regularly evaluating talent using competencies - and on-the-job, real-time evaluations with an observation check list - allows for a more complete picture of progress, skill gaps, and potential. Reviewers can more quickly see who is consistent in their performance, motivation, and engagement - and who isn t.

5 360 degree Leaders need to interact with everybody, so feedback should come from more than just an immediate supervisor. The opinions of peers and crossfunctional teams matter, as do those of the employee. This helps paint a complete picture of the accomplishments, goals, and potential of the person being reviewed. Cornerstone can provide you with additional assessment tools that effortlessly unify feedback from multiple employees into one centralized location. This helps identify passive candidates for leadership roles, as well as highlight active ones who have the right leadership qualities, but may need encouragement and training to step up.

6 Designed to align employee goals with organization s goals Emerging leaders tend to be open to or already have professional goals that align with the goals of the organization. More frequent reviews enable organizations to constantly refine and integrate their needed competencies with employees goals to ensure they re on track for their next role with the organization.

7 Excellent at identifying skill gaps Even perfect candidates with perfect competency assessment scores need guidance and professional development. Performance reviews that are all of the above - frequent, 360 degree, and focused on aligning employee goals with those of the organization show where progress can be made. Offering competency-based training opportunities fills skills gaps, increases engagement, and improves an employee s talent mobility options.

8 Getting Started: Four Simple Steps to Smarter Performance Reviews Make performance reviews accessible and actionable. With an easy, comprehensive system, you can gain company-wide visibility into employees capabilities, develop employee competencies as-needed, and make smarter hiring decisions. Unify your performance management with your learning and development initiatives. Competencybased performance reviews highlight the good and the bad, but you must link these insights to development opportunities. Performance and learning go hand-in-hand, and Cornerstone s suite of talent management tools offer you the ability to effectively manage both. Set short-term goals that can be reviewed frequently. Employees will be more engaged with goals that are achievable, relevant, and tracked often. Spend time discovering your employees career goals. They should feel comfortable expressing their career ambitions. This will help you develop a performance plan that is catered to their goals instead of leaving them feeling like they are stuck on a single-track career path.

9 You ve already experienced how Cornerstone s solutions can impact your employees and your business. Now discover how you can integrate your performance management goals into the full suite of talent management tools to identify and develop high performers and leadership candidates. Reach out to your client executive to learn more or visit csod.com/succession Cornerstone OnDemand is a global talent management software provider that is pioneering solutions to help organizations realize the potential of the modern workforce. csod.com 2016 Cornerstone OnDemand moreinfo@csod.com CSOD Stay connected: