With the same talent management strategy in mind from Assignment 3, write a six (6) page paper in which you: Determine which performance management process you will employ to measure employee talent....

Running Head: HUMAN RESOURCE MANAGEMENT                    1
HUMAN RESOURCE MANAGEMENT                            2
HUMAN RESOURCE MANAGEMENT
Table of Contents
1. Performance Management Process to Measure Employee Talent    3
2. Major Concepts Relevant to Talent Review Process and Talent Pools    4
3. Talent Management Objectives for Measuring Functional Expertise    5
4. Major Components of Global Talent Management    5
5. Optimizing a Sustainable Talent Management Process    7
6. References    8
1. Performance Management Process to Measure Employee Talent
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ent focus of any organization is centered on talent management in order to receive the benefit from the human capital and performance management can be considered as a very simplified approach towards this. Every organization has a very complex functioning, which requires an upgrade with time according to the changing demand. If companies had functioned only based on compiled rules and targets, no doubt computers would have run them very efficiently. However, this is not the case as argued by Deery and Jago (2015) in a study that performance management is necessary to withstand the competitive market, thus, a positive outcome is required from the employee and talent management is an essential process in it.
The most effective performance management process, which may be used to measure employee talent, would be ‘performance appraisal system’ (PAS). As suggested by Tziner and Rabenu (2018), evaluating the employee based on their work potential and supporting them with constructive feedback in form of appraisal, gifts, and bonuses should consequently lead to improved performance of employee not only for the present but also for their enhanced future work potential. PAS also exploits other horizons in terms of knowledge and skills, which are beneficial for both the company and employee’s future designation in the company.
This statement is also supported by Bulto and Markos (2017) that PAS system affects both intrinsic and extrinsic motivation levels of an employee in the organization. Their study shows that PAS has a positive impact on the working motivation of the employee, thus, directing them towards the job with more explored skills and working potential. PAS enlightens the hidden working potential that an employee may possess and ultimately suits best for the performance management processes in measuring employee’s talent.
2. Major Concepts Relevant to Talent Review Process and Talent Pools
The term ‘Talent pools’ in an organization refers to an employee or a group of an employee who is highly trained, skilled and is more mature when comes to handle responsibilities and decision making. In order to define it simply, they are individuals that are identified as high performing and have high potential compared to other employee. As mentioned by Khoreva, Vaiman and Kostanek (2019), in order to meet present and future leadership requirements of an organization, creating talent pools is necessary.
Continuing with the statement they suggested that traditional succession planning could be difficult for certain companies; since they are growing and moving so quickly that they do not know what next 5 years may present in front of them but creating talent pools can prove as an ideal tool. However, as argued by King (2016), the major issue is how to identify these talent pools and even after identification, understanding the way to use them for the progressive growth of the company.
A term known as ‘psychological contract’ has been defined by Khoreva, Vaiman and Kostanek (2019) that shows a firm commitment between the employer and employee and this also generates the feeling of being rewarded...