Overview
So you have created a stellar template, conducted a comprehensive appraisal and your employees' answers are in... now what? You're actually about half way through the full Performance Management experience!
The next crucial step lies in Analytics: examining employee responses alongside your own—maybe even plotting a graph or two! 📊 This process streamlines the final step, which is where you make informed decisions about assigning upcoming projects, potential hires and your overall talent management.
Why are Analytics crucial to Performance Management?
When it comes to your company's success, few factors are as crucial as your team. 🤝 The talent lineup you have assembled is key to not only meeting, but also exceeding expectations and bringing your vision to life.
More specifically, as an owner, executive, or manager, you'll need to make several important considerations and decisions:
🗓️ Identify which tasks are routine and which are innovative;
💪 Determine which team members are best suited for specific projects;
🏋️♀️ Recognise any limitations within your team;
✨ Promote or hire new talent that can propel your company to the next level.
If you're pondering how your team's talent affects your company's success, there are two key factors to consider in talent management: firstly, assess your employees' current performance, and secondly, gauge their future potential.
Performance Analytics will help answer a few important questions you may have:
How would you assess the current performance of a specific employee, considering both their present contributions and their performance over the past quarter?
What specific criteria or parameters do you consider when evaluating an employee's performance?
How challenging is it to address a particular employee's limitations, and do these limitations significantly hinder the team's productivity or effectiveness?
To what extent has the employee demonstrated a willingness to learn and adapt to new challenges? Additionally, what areas are they interested in exploring or developing further?
Answering these questions will offer valuable insights into your employees and the team as a whole, empowering you to make informed, critical decisions related to talent management.
For instance, you'll find that some of your employees excel in their current roles but show limited growth potential, likely to consistently perform within their positions. Others are high-performers with significant potential, making them your top candidates to take on complex tasks or become potential successors.
On the flipside, you'll also identify employees needing extensive management support due to their low performance and potential.
In the end, customised talent management strategies are essential for addressing the unique needs of both individual employees and entire teams.
Analytics: Indigo's solution to appraisal analysis
Analysing your appraisals and acting on the insights can sound a little overwhelming, but it doesn't have to be. If you're conducting timely, efficient and goal-oriented Performance Reviews, you're already halfway there!
Let Analytics, a dedicated pillar of our Performance Management product, take you the rest of the way.
In this section, accessible through Indigo's Performance Management menu on the left side, you'll find everything you need to help you break down your completed performance reviews for some solid, analytical feedback.
