5 Methods for Talent Measurement
An organization can only be as good as its people. And never before in the history of the business world has this been truer than it is right now. With a vast majority of the workforce now working remotely, it has become exceedingly important to measure employee talent so that employee performance is consistently in tandem with the goals of the organization. If you are looking to assess employee talent, then here are 5 talent measurement strategies that you should be using.
Individual Assessment for Talent Measurement
This is a one-to-one talent assessment where you can facilitate a discussion around the overall development and transformation of an employee within the past month, quarter, or year.
During this dialogue, you can enable the employee to reflect on their potential strengths and weaknesses, and analyze the areas in which the employee exceeds your expectations and the ones where they fall short. Based on the same, you can help create a path that will take them closer to their career goals in a way that benefits the organization as well. Not only will this nurture the employee’s trust in you, but will also enable you to get a higher return on your hire.
A great way to give direction to this task is to ask yourself, “If that person were to come in for an interview today, would you hire them?
If so, why?
And if not, what can you do to help them meet your expectations?
Measure Talent with Quantity Metrics
While not the only way, Quantity Metrics are an empirical method to gauge an employee’s performance in a given time frame. These metrics should be decided upon on the basis of the role of the employee within the company. Moreover, the parameters chosen here should be those that are vital to the success of the employee.
For instance, the quantity metrics for a copywriting professional will include:
- Number of Articles per Day/Month
- Average Readability Score
- Number of Edits Required Per Article/Copy
- Percentage of Articles Published
On the same lines, the quantity metrics for a salesperson may include:
- Number of Sales per Day/Month
- Number of Company Visits
- Percentage of Clients Closed
- Percentage of Repeat Business
Use Quality Metrics for Talent Measurement
While quantity metrics help you gauge the amount of work done and the success ratio, Quality Metrics assist you in understanding the quality of the work done. Of course, this is easier said than done, especially because quality in itself is a subjective matter.
Going by the examples discussed above, the quality metrics for a copywriting professional will include:
- Likeability of the content
- Number of errors in the final copy
- Feedback from client/readers
In the cases where there are little to no quality metrics to depend on, organizations can infer the same on the basis of parameters like the Net Promoter Score (NPS) which essentially exhibits a client’s willingness to recommend your business or service to others.
Use Self-evaluation to Gauge Employee Performance
Did you know?
It is widely understood from many studies and academic research that most employees have a more critical view pertaining to their own performance within the organization when compared to the views of their managers and leaders!
Now that’s a fact that can help you measure employee talent rather seamlessly! For all you know, when you invite your employees to evaluate their own performance, they might even offer some insights that may not have crossed your mind. Hence, it can pay you in heaps and bounds to encourage the employees to assess their conduct and appraise their results. The outcome of such assessment can eventually be combined with the quality and quantity metrics to arrive at a true measure of the employee talent.
Moreover, self-assessments can help boost employee morale by asserting the importance of their views and opinions, and that of the value they provide to the organization.
Leveraging Employee-Lifetime-Value to Measure Employee Talent
The Employee-Lifetime-Value (ELV) is a measure that indicates the net value that an employee brings to the organization from the day they were hired to the day of the evaluation. ELV helps assess the contribution of an employee towards the organizational goals and their impact on the revenue stream of the business.
Of course, for the ELV to be of any importance, it is essential that the employee has worked for a minimum of 6 months in the organization, as it is this lead time that will help calculate the true value of the employee within the setup.
Crosschq is the highest-rated reference checking and talent analytics software on the market. Get a free demo of Crosschq to see how you can begin measuring employee talent, and build winning, diverse teams.
How to Measure Talent FAQs
What are some examples of employee talent metrics?
Numbers of sales, profit, return on investments, market reputation, repeat business, customer satisfaction, etc., are some of the most dependable performance metrics, however, these can largely vary based on the job profile and the industry.
What are some questions that can enable better self-assessment by the employees?
Here is a brief list of questions that you may ask the employees to answer when they are self-evaluating their performance -
- What is one achievement in this quarter or year that you are most proud of?
- Was there an instance when you went above and beyond to help your team and/or organization achieve its goals? If so, elaborate.
- What is one aspect in which you think you could have performed better?
- Which skill, if acquired, can help enhance your performance and/or productivity?
- What are your short-term and long-term goals?
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