In order for a company to create an edge in the market and stay on the top of your industry; Your managers need tools and information to get the very most from their people.
How can you maximize employee potential?
Is your organization utilizing its talent to its fullest potential? If not, begin tapping into your richest resources. They are called "human resources" for a reason! Leverage the resources you have by using a process for prospecting within your departments.
Uncover your hidden gemsAccording to an ASTD research study, most organizations focus on talent management for senior executives and high potentials, but this narrow focus thwarts efforts to improve talent. In order to upgrade talent company-wide, employees in all positions should be audited and considered.
Assessment instruments are extremely effective for helping you sift through the tons of application debris to find that two-carat diamond. They will help you identify who has the DNA and the desire to be a future leader in the organization and who does not. You will have better insight into an employee's long-term value to the company while giving him the chance to develop the skills and experience he needs in order to shine. Do what it takes to give your employees great opportunities and build loyalty in the process.
Utilize Your Human ResourcesIt is very important to identify your current and future stars and top performers who may be good candidates for leadership positions or for certain type of training; by doing that you will save money and time.
Use Your Own PeopleThe risk of failure in new management position for external hires is greater than internal promotion. Also, organization who promote from within can manage the budget and the risk from external hires. According to University of Michigan professor Dave Ulrich, external hires cost about 20% to 30% more than internal hires.
There are three reasons for this:
Internal hiring reduces these risks, and promotions from within are more likely to succeed than external hires.
So, before committing to hiring outside superstars, organizations should use their performance management processes to identify strong employees. Future potential is based on accumulated skills and experience as evidenced by past achievement, ability to learn new skills, and willingness to tackle larger and more complex assignments.
The PROFILEXT® is especially helpful when determining where an individual fits within your organization. Instead of assessing outside superstars, first evaluate the results of those already employed. The PROFILEXT® measures how well an individual fits specific jobs in your organization and enables you to evaluate an individual relative to the attributes needed to perform successfully in a specific job.