How to Set Up a Talent Management Program
Organizations conduct reviews periodically for those under probation once the period ends. Some organizations may also conduct monthly reviews for new employees to gain insight and feedback on their performance.

Review Frequency
There are two basic methods for creating a performance review schedule. These can be associated to the linkage of the salary to the review process.
Anniversary date method: Anniversary date represents the date of joining or holding of the current position for an employee. This method uses the following timelines for scheduling the review date- * Annually on the anniversary date of the employee * Half-yearly following the date from which the employee took up the current position
There are a couple of advantages of this method namely- * Reduces the pressure of the focal reviews that maybe performed once a year * Monitors the performance over a reasonable period of time i.e.; 1 year to six months
Single date method: This method also known as the focal review method, schedules reviews for all the employees at the same time. This method is useful when performance reviews are linkable to the annual salary review during the company’s budget planning process. It is also useful for decisions on bonus and retention.
The advantages of this method includes- * A fixed time is determined for all reviews and does not hamper daily work * It creates equality in ratings and evaluations as all the employees are reviewed simultaneously * It supports both paired and ranking comparisons
Some companies select to combine both the review methods i.e.: a certain employee group (managerial) may use focal reviews as their review schedule while another departments (non-managerial) may use an anniversary date
Communication
The review program is effectively communicated to the employees so that they are aware of the benefits of undergoing this successfully. There should be no hidden agendas and a concrete reason for the implementation of such a program should be clear to all employees. The company needs to make sure that there is something in it for everyone.
Employees need to know their rankings and the expectations of the company from their work profile. They also need to be realistic in their goal setting and should take responsibility of their jobs. Managers need to communicate their expectations successfully and clearly in order to improve their employees’ performance. They need to be observant, fair, honest and timely in their reviews.
Monitoring Procedures
Send reminders
Companies must have a process in place that sends frequent reminders to the managers when the date of the review is approaching. An online system can work wonders in such a scenario and caters to all such needs of a company. A well designed online system works well for the management of the company and enhances the overall performance management efforts. One of the major advantages of such a system is its detailed reporting about the individual tasks being performed and their status.
An online performance appraisal system is automatic and sends regular reminders to managers and their employees about the key deadlines involved. They also initiate a warning message when a deadline is missed. Lastly, an effective online system tracks and displays the status of the appraisal completion for human resources.

Tracking Performance Reviews

Effective guidelines are set in each company to appoint the monitor for the performance reviews. The monitoring process ensures that- * Timely reviews are done * Non-discriminatory and clear language is used * Proper rating is done * Prompt action on performance issues along with chalking of developmental and remedial actions * Uniform evaluation is done across the entire organization * Challenged reviews are sent for scrutiny * There is no adversity in promotion, termination or compensation
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