While deciding on the implementation of the talent development project, it is necessary to analyze resources that need to be used in the program and to focus on the project goals or expected outcomes. The three main evaluative metrics that should be referred to by the decision-maker are the measurement of the work quality, the measurement of efficiency or employees’ productivity, and the career-path ratio (Berk, 2009; Huus & Osmond, 2015). The quality of the work is often determined by analysts because this indicator is important to conclude regarding the effectiveness of the operations’ organization, as well as employees’ qualifications (Rothwell & Kazanas, 2003).
It is important to note that, in most cases, the quality of the work is measured in both qualitative and quantitative terms, and the data to evaluate the employees’ performance is collected with the help of performance appraisal tools (Huus & Osmond, 2015). Therefore, the measurement of the employees’ performance should be completed in two steps: before planning and implementing the talent development project and after realizing the project, as well as achieving the first outcomes (Berk, 2009). If the measurement is conducted appropriately, it is possible to compare the results and conclude regarding the project’s effectiveness and advantages for the company.
The second important measure is the efficiency ratio. It is important to evaluate not only the quality of the employees’ work but also their productivity. From this point, the proposed metric is used to measure the time that is necessary to complete certain tasks by employees in the most appropriate manner (Berk, 2009; Huus & Osmond, 2015).
The efficiency should be measured before and after implementing the talent development project because it is usually expected that the program can influence the employees’ productivity, and it will be possible to observe positive changes regarding efficiency in the future (Hyatt, 2009). Different types of assessments can be used to measure productivity and provide the results in the numerical form (Huus & Osmond, 2015). While planning the implementation of the talent development program and deciding on the resources to choose, it is also important to refer to the results of such assessments that are used to predict positive changes in the employees’ productivity.
One more important indicator is the career path ratio. This metric is used to demonstrate how the career movement of employees is related to the organization’s structure and how it can lead to its progress (Huus & Osmond, 2015; Hyatt, 2009). Managers need to calculate how training and education programs that are developed for employees can contribute to their career progress, and then, to the progress of the company because of the internal talent development and support. It is reasonable to calculate such a ratio after implementing and completing the talent development project.
At this stage, leaders and managers need to understand how the company’s efforts and costly procedures can lead to the organization’s progress, as well as the growth of the company’s profitability (Berk, 2009). Thus, the proposed evaluative metrics are important to be taken into account while planning the talent development projects and programs because the effectiveness of such initiative depends on the measurements conducted before and after the completion of the project. Managers need to know and understand what key performance indicators should be improved and what progress can be observed as a result of developing this or that project in the organization.
References
Berk, J. (2009). Emerging issues in measurement. Chief Learning Officer, 8(11), 34-39.
Huus, T., & Osmond, J. (2015). People data: How to use and apply human capital metrics in your company. New York, NY: Springer.
Hyatt, J. (2009, July 15). The metric system. CFO Magazine.
Rothwell, W., & Kazanas, H. (2003). The strategic development of talent. Amherst, MA: HRD Press.