Why Every Organization, No Matter How Small, Should Conduct Talent Reviews

September 13, 2024, by Stephanie Messier | Performance Management

Talent reviews are important for making sure the right people are in place to meet company goals. They help identify strengths and weaknesses, plan for the future, develop employees, and keep them motivated. Talent reviews also help make better hiring decisions, hold people accountable, adapt to change, and strengthen teamwork. Even in small organizations, talent reviews offer many benefits.

Implementing a talent review in a small organization with limited resources is doable with a strategic approach. Here are some steps to effectively conduct a talent review:

1. Clearly outline the goals of the talent review process, like identifying high-potential employees, planning for succession, or helping employees develop.

2. Create a straightforward process focusing on performance assessment, high potential talent identification, and development and career planning. Then, develop a performance talent review annual calendar and roadmap with key dates for each step that will end with year-end performance conversations.

3. Get Managers Involved in Talent Review by sharing their assessment on their team members' performance and potential through casual discussions or short written evaluations, and then conduct a calibration session to gather other managers’ observations on the same pool of talent. To guide those management assessments and discussions, develop a talent assessment grid, such as a Nine-Box Grid, that assesses potential (i.e., high, medium, limited) and performance (i.e., needs improvement, meets expectations, superior)

4. Foster a culture of open communication by ensuring employees feel comfortable discussing their career goals and seeking feedback from management, but also have opportunities to give feedback.

These are a few suggestions that organizations can consider to conduct a talent review process that boosts employee engagement, identifies potential leaders, and supports overall organizational growth through talent review.