Compensation is one of the critical pieces of the integrated talent management system. It ties together employee learning, assessments, goals, and key performance metrics to allow for the development of a true pay-for-performance organization. Organizations link these key processes to provide a dynamic compensation adjustment process based on a wide range of strategies and different types of workers, including long-range compensation, short-range compensation, hourly/salaried, commissioned employees, and bonus eligibility.
Why Talent Management?
Human capital is the most valuable asset in the business and one that is increasingly being treated as a strategic imperative for long-term organizational success.
These are just a few of the challenging questions being asked about talent in today’s workplace:
- How can we tie training programs to employee development plans and organizational goals?
- Which business units are meeting their performance goals?
- Why are we losing our best performers?
- Which employees are positioned for leadership roles?
- How do we account for the emergence of Gen Y and the retirement of the Baby Boomers?
- How can my employees keep up with rapidly changing information?
- How can we give employees input into career development?
- What data do we need to build a real pay-for-performance culture?