A talent review is different than the typical performance review.
A talent review asks business leaders to assess employees across the organization on performance and future potential. Completing a talent review helps companies uncover talent gaps and identify high potential employees. The insight you gain allows you to make strategic talent decisions and plan for your company’s future. In a talent review meeting, you will identify high performers who exhibit most of the needed traits and skills, while also pinpointing any gaps they need to close. The result? You know where to focus your coaching and development efforts.
The talent review is one of the most critical steps in the succession planning process because its outcomes will define a company’s future. Decisions made during the talent review will have a direct impact on the business, because the company will be trusting those candidates chosen to occupy key positions with the responsibility of maintaining business continuity while, at the same time, taking the company to its next level of execution. Similarly, those decisions will affect the careers and levels of engagement of those individuals who are either selected for inclusion in the succession plan, chosen to occupy key positions because of their readiness, or excluded from the succession plan altogether.
