Performance Evaluation Tools and Their Effective Implementation

1323 Words Feb 3rd, 2018 5 Pages
Due in part to globalization, the need to evaluate performance and talent has become more profound. The available candidates are not restricted to geographic presence as they once were. Instead, competitors can arise from virtually anywhere in the world. As such, the need for effective tools to identify and subsequently train this talent has become more difficult yet rewarding. Below, are tools that can be used in performance evaluation process and how these tools can be effectively implemented.
As mentioned in detail below, the balanced scorecard is a great process used to help measure talent. The balance scorecard is not biased, as it is based primarily on factual information. This abates the influence of personal preference in regards to the measurement of talent and subsequent promotions. Furthermore, the balanced scorecard provides a means to which an individual can ascertain his or her strengths or weaknesses. Through this self assessment, the individuals can alter his development or training to better progress his or her skillset.
The first key concept related to effective performance evaluation is the notion of succession training. Inevitably, personnel in leadership positions will leave to pursue other endeavors. Subsequently, appropriate talent must be trained in order to help foster continued growth within the particular business. Performance evaluations first help identify the…