Brochure Talent Scorecard

8/3/2019 Brochure Talent Scorecard

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TALENT SCORECARDEvaluating And Measuring Talent Strategy Outcomes



DELIVERING ON STRATEGY

Organisations that are recognised as highperformers make talent management astrategic priority that is central to the corporateagenda.

They embed a talent mindset by getting the talentstrategy so clearly described that leaders andmanagers at all levels believe in it, understandit and can see how they can contribute to thedelivery of it.

They then actively lead and support the deliveryof the talent strategy by getting leaders andmanagers committed to delivering on agreedtargets that directly contribute to it.

WHAT A TALENT SCORECARD IS

A talent scorecard, also referred to as apeople balance sheet , is a performance-basedmeasurement and management framework

linked to the talent strategy, which tracksand guides actions in support of acquiring,developing and retaining critical organisationaltalent.

A talent scorecard enables decision-makers toget a ‘quick read’ on the current situation andhelps them to determine where action must betaken to ensure that the organisation meets itsdesired talent and business goals.

The scorecard focuses on the core elements(or categories) that matter most to achievingthe talent strategy. It provides for performancemonitoring, helps align resources and manageperformance to achieve strategic goals.



DESIGNING A TALENT SCORECARD

The process of developing a talent scorecard

starts by executing a talent risk assessment anddening the categories of measures or ‘resultareas’ that are linked to the organisation’sstrategic talent goals and priorities. It isgenerally agreed that three to ve categories(or dimensions) are sufcient.

The categories should take both a near-term anda mid-term view and the metrics should reectwhat the organisation has to do to deliver onits talent strategy.

Selecting appropriate metrics are key to thedesign of a talent scorecard.

To be effective, the talent scorecard metricsmust be practical (i.e. the data can actuallybe collected), easily understood throughoutthe organisation (i.e. everybody can grasp theconcepts), and actionable (i.e. leaders can usethem to increase organisational capability).

Examples of Quantitative Metrics:

• Changes to bench strength expressed as aratio or number in relation to key roles

• Whether all key roles have a ‘bench’ or strategies in place to address successionissues

Examples of Qualitative Metrics:

• Assessing progress on the achievement of individual development plans

• Tracking the progress of identied high-potential employees

• The degree and nature of involvement of

current leaders or senior executives

• Implementation of retention strategies for ‘ready now’ candidates, who have not yetgained promotion

• Success of employees in new roles.

METRICS • Time taken to ll critical vacancies

• Number of stretch assignments which resultedin failure or dips in performance

• Retention rates for high potentials, who havenot achieved promotions.



SCORECARD CATEGORIES

Commonly used categories (or dimensions)include:

• Bench Strength

• Diversity

• Mobility | Movement

• Organisational capability

• Process Alignment.

CHANGING TARGETS & METRICS

Performance targets and metrics will changeover time. This can be caused by a shift instrategy, attainment of strategic goals or a needto produce more detailed and better alignedmeasures.

WHAT A TALENT SCORECARDLOOKS LIKE

A typical talent scorecard is usually a single,landscaped document that details performancecategories, targets, metrics, achievements(against targets) and timelines.



BENEFITS OF A TALENT SCORECARD

There are numerous benets to having a talentscorecard. These include:

• It creates a common focus around talentmanagement, embeds a talent mindset andshapes performance discipline

• It provides a visual picture of performanceagainst targets | gaps

• It highlights the organization’s exposure torisk

• It drives strategy execution.

HOW THE TALENT INSTITUTEASSISTS CLIENTS

If you have a talent strategy, but no talent score-

card, we will help you design a scorecard thatis aligned with your talent strategy.

If you don’t have a talent strategy, we willfacilitate the design of both the strategy andthe scorecard.

ABOUT THE TALENT INSTITUTE

The Talent Institute is a professional servicesrm that specialises in helping clients developand implement talent strategies to moreeffectively manage the acquisition, deployment,development and retention of talent to supportcurrent business strategies and to prepare for

future challenges.

Our focus is on reducing people risk inorganisations - which ones to hire or promoteand when - how to train and develop them totheir fullest potential - and how to organisethem and systems around them to maximisetheir collective potential. Our combination of psychological insights and real-world businessexperience removes the guesswork from makingdecisions about people.

Our team of psychologists and experiencedmanagement consultants offer proven solutionsfor hiring and promoting the best, identifying anddeveloping extraordinary leaders, enhancingorganisational capability and unleashingtalent.

Our work is grounded in organisationalpsychology and the science of measuring anddeveloping people and organisations.

A virtual management consultancy, we deliver services at any location preferred by the client.



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AFRICA

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MORE INFORMATION

[email protected]

www.talentinstitute.co.za

REGISTERED OFFICES

Richards Bay - South Africa

Dubai - United Arab Emirates

Documents

Brochure Talent Scorecard