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© 2011 Talent Management LLC 2© 2011 Talent Management LLC 2
How do Annual Performance Reviews make you feel…
• Anxious?• Grumpy?• Unhappy?• Do they go
something like this…?
http://www.youtube.com/watch?NR=1&feature=endscreen&v=U7Low0p7ydQ
© 2011 Talent Management LLC 3© 2011 Talent Management LLC 3
Performance reviews are broken…• 4 out of 5 U.S. workers are dissatisfied with
their job performance reviews1
• 46% of respondents said that annual performance reviews are not an accurate appraisal of an employee’s work2
• Psychologists found that at least 30% of the performance reviews ended up in decreased employee performance3
(1) Reuters; (2) Globoforce/SHRM; (3) Psychological Bulletin
© 2011 Talent Management LLC 4© 2011 Talent Management LLC 4
Key HR Problems…• 45% of key people will leave their
positions upon economic recovery1
• 72% of workers are not engaged in their work2
• 18% of disengaged employees actually undermine their co-workers’ success2
• Total cost to business…$370B/year2
Source: (1) Employment Dynamics & Growth Expectations, (2) Gallup
© 2011 Talent Management LLC 5© 2011 Talent Management LLC 5
Survey says…• 78 % of U.S. workers
said being recognized motivates them in their job
• 69 % stated they would work harder if they felt their efforts were better recognized
Source: Globoforce Mood Tracker
© 2011 Talent Management LLC 6
Non-financial Incentives Work Best
More Effective Used Less
© 2011 Talent Management LLC 7© 2011 Talent Management LLC 7
Employee Performance ManagementWhat is it?
Performance appraisals and assessments
Goal and objective management
Competency management Performance appraisal management
90-360 assessments Developmental planning
Career path management Succession management
Talent pool management Coaching
Talent review/assessment Compensation planning
Pay for performance support Visualization (graphs, grids, etc.)
© 2011 Talent Management LLC 8© 2011 Talent Management LLC 8
Economic Impact for Business• 91% increased employee performance• 84% decreased cost of hire• 84% increased revenue per employee• 66% improved their ability to determine
projected growth by job category• 49% improved their ability to forecast
annual retirement rates
© 2011 Talent Management LLC 9© 2011 Talent Management LLC 9
Actionable development plans alone result in twice the revenue per employee
and a 27% lower turnover rate
Source: Bersin & Associates
© 2011 Talent Management LLC 10© 2011 Talent Management LLC 10
What if Performance Appraisals…
• Happened throughout the year
• Were relevant to the skills and metrics pertaining to your job
• Provided feedback from other people besides your manager?
© 2011 Talent Management LLC 11© 2011 Talent Management LLC 11
What if Your Personal Development Plan…
• Helped you set relevant goals and objectives
• Suggested appropriate training and development
• Included coaching tips for you and your manager?
© 2011 Talent Management LLC 12© 2011 Talent Management LLC 12
What if Your Personal Development System…
• Helped you track, manage, revise and update your goals
• Reminded you of due dates and upcoming commitments
• Provided your manager with insight into your progress?
© 2011 Talent Management LLC 13© 2011 Talent Management LLC 13
What if there was an Employee Performance Management System that’s…
Simple,Affordable,
and Flexible?
© 2011 Talent Management LLC 14© 2011 Talent Management LLC 14
Talent Snapshot® Business Model• Software as a Service
• Employee Performance Management system
• $159/year/employee• Affiliate Network is key to
Growth• HR and TM consultants,
trainers and coaches• Strategy and OD experts
• Simple, flexible, affordable
Gail Conrad? ? ?
???
Walter Emerson
Michelle Green
Howard Hill
Lynda Ross
Kristen Richards
Laura Roman
Leroy Smith
Yolanda Price
Mike Smith
Nate Wood Susan Michaels Hal Gorden
Ian Stacy
Jenny Sweney
Calvin Underwood
Brent Foster
Megan GantJessica Grims
Adam Simpson
Paul Jackson
Paul Conner
LP
LP
LP
VLP
MP
MP
MP
LP
VHP
HP
MP
LMP
VHP
VHP
MHP
MP
Frank VanDyke
Alice Zender
Ethan Bromer
Ralph Tamsco
© 2011 Talent Management LLC 15© 2011 Talent Management LLC 15
Talent Snapshot® Employee Performance Management System…
• Includes employee appraisal on actual performance and predictive, job-specific skills
• Targets training and coaching• Sets performance goals and objectives• Defines, schedules, executes and manages/tracks
development and objectives• Provides ongoing feedback to the employee• On the drawing board: Succession, Career, Leadership
Management and Compensation Planning, more enhancements
© 2011 Talent Management LLC 16© 2011 Talent Management LLC 16
Business Case for Employee Performance Management Systems
• Better overall business results - good people practices can increase a company’s value by as much as 30%1
• Insight into your talent pool – stars, diamonds in the rough and questionable performers
• Organizational alignment – right people, in the right jobs at the right time
• Retain top performers – 27% lower turnover rate• ROI on training dollars – skills mapped to training(1) Source: Watson Wyatt
© 2011 Talent Management LLC 17© 2011 Talent Management LLC 17
Business Case for Employee Performance Management Systems
• Better overall business results - good people practices can increase a company’s value by as much as 30%1
• Insight into your talent pool – stars, diamonds in the rough and questionable performers
• Organizational alignment – right people, in the right jobs at the right time
• Retain top performers – 27% lower turnover rate• ROI on training dollars – skills mapped to training(1) Source: Watson Wyatt
Cha-Ching!!!
© 2011 Talent Management LLC 18© 2011 Talent Management LLC 18
What’s New: The Wisdom of Crowdsaka “Crowdsourcing”
• Collective knowledge trumps individual knowledge
• A truly all-encompassing performance feedback loop
• As Peter Drucker said, “What gets measured gets managed.”
© 2011 Talent Management LLC 19© 2011 Talent Management LLC 19
Conclusion• People hate annual performance reviews• Statistics indicate non-financial incentives
work best• Employee Performance Management is
being pursued by top performing companies• Talent Snapshot® is available for managing
appraisals and development plans• Crowdsourcing is the latest trend