A talent review is the process of checking in with your employees to assess where they are in terms of performance and potential. It’s an opportunity to reevaluate the talent development strategy in your workforce and make sure you’re still on track to hit your long-term business goals. This is your chance to identify current and future leadership gaps, increase employee engagement, and retain your top talent by fostering a company culture of continuous development. In this guide, we’ll detail the steps you’ll take to conduct a successful, productive talent review.
Preparing for a successful talent review
Your main goal in a talent review is to assess the state of your current talent pool to identify gaps and potential improvements.
Setting clear objectives for the talent review process
Before beginning a talent review, set clear, measurable objectives as a guidepost. There are many examples of different frameworks, score sheets, and feedback models available online. The one you choose to implement will depend on the needs and preferences of your organization. No matter which one you land on, make sure your objectives align with your long-term business strategies and goals.
Gathering and analyzing relevant data
You’ll need performance metrics, growth potential, employee engagement levels, and a method for collecting and analyzing this data. Sources of this data can include employee surveys, psychometric assessments, feedback from colleagues, performance reviews, and any other metrics that will help you make data-led decisions to inform your strategy.
Involving the right stakeholders
Your HR team should own this process, but senior leadership and department managers should give input for a holistic view. While this is a data-led process, personal feedback is needed to assess growth potential. Make sure that those providing the feedback have a relationship with or knowledge of the employee under review.
Conducting the talent review meeting
Structuring the meeting for maximum effectiveness
With the prep work complete, set up a time for talent review meetings among decision-makers. The meeting structure will vary by organization, but a basic agenda might look like this:
- Introduce context: State the purpose and goals of the meeting, explaining the significance of a talent review.
- Review data: Allow a set amount of time for participants to review all the collected data. This could also be done in the days or weeks before the meeting.
- Identify potential: Allow time to discuss employees who show potential, possible leadership development, and succession planning.
- Discuss gaps: Identify strong and weak areas of talent in the business as a whole. Discuss each employee's individual development needs, taking their career aspirations and skill gaps into consideration.
- Make decisions: Based on the data and the discussions, make decisions that line up with the long-term objectives of the business.
- Record and follow up: Document the meeting and assign responsibilities and follow-up actions.
- A clear agenda will help you stay on track and leave the meeting with productive steps to follow.
Utilizing assessment tools to evaluate talent
Psychometric assessments can give you objective, unbiased insight into your employees. There are a few types of assessments, and each one evaluates a different facet of your employee. Behavioral assessments measure strengths, areas for improvement, and communication styles. Personality tests measure resilience to stress, openness to change, and competitiveness level.
Aptitude tests provide insight into general intelligence and cognitive ability. They assess abilities such as reasoning, perceptual speed, number speed and accuracy, word meaning, and spatial visualization. Emotional intelligence assessments measure a person’s ability to perceive, understand, and handle emotions to determine conflict resolution skills and team interaction. For more information and an in-depth look at the value of these assessments, please contact us at Thomas.
Creating development plans for high-potential employees
Create personalized development plans to prepare high-potential employees for future roles. These plans should essentially be a roadmap of their career path, in line with your organization's long-term goals. Review and adjust them regularly, if necessary, but make sure to communicate with and involve the employee in the decision-making process.
Overcoming common challenges in talent reviews
Addressing bias and subjectivity
The use of psychometric assessments and other data will mitigate the risk of bias. Monitor review meeting discussions for language that might indicate a personal bias—negative or positive. If statements aren’t based in fact or on actual behavior, bring them to the attention of attendees. Use clear, measurable methods to identify talent criteria.
Ensuring actionable outcomes
Insights gleaned in the review process shouldn’t just be a talking point. Decide how to use the data you have to make actionable decisions that will push the company to grow in the long term. Think about how to develop talent, how to retain employees, and how to plan succession.
Maintaining momentum post-review
Follow through on the actions set out in the review meeting and check in on progress regularly. By doing this, you'll be in a better position to head off potential blockers before they become a major issue.
Leveraging talent reviews for strategic workforce planning
Talent reviews are fantastic tools that will help you inform the strategic planning of your workforce. You’ll gain insight into the skills, capabilities, and potential of current employees while identifying gaps and skills needed for future goals. You’ll be able to monitor which employees show potential for leadership roles and which employees are crucial to your business's success. You’ll be able to prepare for and fill future roles from your current talent pool without the risk and cost associated with recruitment.
Employees who feel as though they are getting as much as they give are more likely to remain with your company. Provide clarity on how they are evaluated with measurable, data-focused frameworks. Nurture their skills and provide a clear path for them to advance their career, and you’ll increase your employee satisfaction and loyalty immeasurably.
The future of talent development
Following the steps outlined above will help you assess employee performance and potential to conduct a successful talent review. Armed with this information, you’ll be able to align your development strategies with your long-term business goals and help you overcome common challenges. Continuous evaluation is necessary to adapt your strategy and nurture a dynamic, future-ready workforce.
At Thomas, we recommend regular talent reviews, leveraging talent assessment tools as part of the process. If you’d like to see how we can help you realize your goals, please book a consultation.
