Talent management and performance management will boost organisational agility.

CANBERRA, Australia, 2022-Feb-03 — /EPR Network/ — While both bear similar names, talent management and performance management serve two very different functions. The first is about recruiting, retaining and rewarding employees. The second is a more niche examination of employee performance using metrics and feedback. According to the Acorn subject matter experts, together they can drive value for a business. The experts’ latest article digs into both these concepts including how they help and how to implement solid strategies.

Talent management aims to ensure an organisation is future-ready by constantly upskilling and reskilling the current workforce while recruiting the right talent. Retaining and developing talent that is unique to an organisation and its needs is the name of the game. The overall functions of talent management include recruitment, learning and development, performance management, and retention.

Performance management delves deeper into individuals and team management. Its purpose is to align employee goalsetting with organisational needs, though it’s more than just promotions and remuneration. Today, the focus is on setting expectations to employees, monitoring individual performance, valuing certain behaviours and thought processes, developing self-evaluation skills and recognising outstanding performance. By building highly motivated employees, you get more efficient teams and a higher performing organisation.

“Together, talent management and performance management ensure you’ve got the right people, with the right skills, when you need them during times of crisis or change,” said Blake Proberts (Co-Founder and Managing Director). “Creating your own talent pipeline through development means you’re always nurturing the skills needed to achieve your organisation’s goals.”

The common ground between both talent and performance management is that they’re built on organisational goals. Getting them to drive value for a business requires a little organisational soul-searching, but this can lead to higher productivity, efficiency and ROI in the long run.

You can read the Acorn experts’ article about talent and performance management on their Acorn Resources blog: https://hubs.ly/Q012l5P40

Pursuit Technology is a software development company which seeks to streamline systems through innovative solutions and unlock the potential of the workforce. Pursuit is all about putting the customer at the centre of everything we create. Since the inception of our Acorn LMS seven years ago, we’ve worked with everyone from local businesses to federal government agencies. In that time, we’ve maintained a 100% retention rate. Acorn LMS contains all the tools needed to support workforces – from onboarding and inductions through to compliance and ongoing development.

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