The topics of performance and talent management are rightly included in the HR agendas of many financial institutions. Both are crucial HR processes to ensure sustainable corporate success in light of current trends, such as demographic change, ongoing internationalization, and an obvious shortage of skilled workers.

Performance management is the key process that will translate business objectives into individual performance requirements, i.e. the "what" and the "how" of performance. These are measured and calibrated in an annual process that has implications for remuneration and development. In doing so, performance management provides the “currency” for a wide variety of HR processes.

Talent management can be described as the ongoing issue of optimizing people versus jobs. This optimization covers the entire employee lifecycle and includes a number of HR processes and tools. The recruitment process, for example, is of vital importance here. Performance management is ultimately a fundamental element of talent management.

The performance and talent management systems need to be regularly reviewed and adapted to changing corporate objectives and external conditions. The aim is to improve the organization's performance, respond more quickly to changing market conditions and successfully meet new challenges.

hkp/// group experts support businesses with developing and delivering performance and talent management systems across the entire employee life cycle. Our consultants advise on questions relating to staff recruitment and retention, appraisal of potential and performance, the design of development paths, recruitment processes for management positions, solutions for the interface to remuneration, and the regulations surrounding the end of employment with the company. hkp/// group experts are also on hand to help financial sector businesses comply with their regulatory requirements, such as introducing appropriate performance measurement tools etc.

 

 

* Photo by Clark Young on Unsplash