Prior to 2004, talent management and performance management at Peter Novelli was based on competency models that determined high potential talent and succession planning. However, the company decided to change its talent management strategy in order to be more aligned with its business strategy. According to Goldsmith, Carter, and Institute (2009) the company’s new strategic vision “focused on a new approach to client account planning, a more client-centric structure, and a greater emphasis on operating interdependence between the globally dispersed offices in the service of multinational clients” (para. 2). The company hired a Chief Talent Officer (CTO) to help with aligning its human resource practices with its strategic vision. The
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Silzer and Dowell (2009) contend that effective leadership and management are related to “positive outcomes for the organization, such as decreased turnover, increased employee commitment and engagement, and enhanced high-potential talent retention and development” (p. 351). The roles of the strategic leaders at Porter Novelli were effective in the formation of the performance management strategy. Two key roles that contributed to the success of the performance management strategy were the senior leadership team (chief executive officer, president, and chief strategy officer) and …show more content…
The effectiveness of talent management is measured by how well it supports business objectives. Therefore, the evaluation criteria for the talent management strategy at Porter Novelli should measure how well the strategy improves business results. Five metrics that measure the effectiveness of the talent management at Porter Novelli include (1) KPIs, (2) employee surveys, (3) interviews, (4) promotions vs external hires and (5) turnover. First, the success of the talent management strategy at Porter Novelli is contingent on employees meeting their results expectations. KPIs are how the company measures specific performance criteria that is critical to organizational success. According to management and leadership expert John Reh (2015), “Key Performance Indicators are quantifiable measurements, agreed to beforehand, that reflect the critical success factors of an organization” (para. 2). The talent management strategy should be linked to specific KPIs, such as client satisfaction, referral business, and sales revenue. In fact, revenue is an important profitability KPI and a factor of financial success. According to Goldsmith et al. (2010), “the company produced the best two financial performances in its history in 2006 and 2007. The company’s financial success can be linked to the effectiveness of the talent management
Silzer and Dowell (2009) contend that effective leadership and management are related to “positive outcomes for the organization, such as decreased turnover, increased employee commitment and engagement, and enhanced high-potential talent retention and development” (p. 351). The roles of the strategic leaders at Porter Novelli were effective in the formation of the performance management strategy. Two key roles that contributed to the success of the performance management strategy were the senior leadership team (chief executive officer, president, and chief strategy officer) and …show more content…
The effectiveness of talent management is measured by how well it supports business objectives. Therefore, the evaluation criteria for the talent management strategy at Porter Novelli should measure how well the strategy improves business results. Five metrics that measure the effectiveness of the talent management at Porter Novelli include (1) KPIs, (2) employee surveys, (3) interviews, (4) promotions vs external hires and (5) turnover. First, the success of the talent management strategy at Porter Novelli is contingent on employees meeting their results expectations. KPIs are how the company measures specific performance criteria that is critical to organizational success. According to management and leadership expert John Reh (2015), “Key Performance Indicators are quantifiable measurements, agreed to beforehand, that reflect the critical success factors of an organization” (para. 2). The talent management strategy should be linked to specific KPIs, such as client satisfaction, referral business, and sales revenue. In fact, revenue is an important profitability KPI and a factor of financial success. According to Goldsmith et al. (2010), “the company produced the best two financial performances in its history in 2006 and 2007. The company’s financial success can be linked to the effectiveness of the talent management