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What is Talent Portfolio and where do we use it?
- Talent Portfolio is a web-based tool that helps team leaders and HR managers easily identify, develop, and retain the talents in their organization.
- The product enables managers to see the hidden potential in their teams and forecast potential HR risks.
- Talent Portfolio supports leaders in preparing individual development plans with specific development actions for each employee and in creating an effective succession planning strategy.
How does it work?
- With the help of a simple interface, managers evaluate all team members by periodically answering 12 questions.
- The analysis of talents is based on the evaluation of 12 factors that place every team member within the classic portfolio’s 9-box grid Performance/Potential matrix. The evaluation also reflects the level of each talent regarding situational leadership, leadership ambition, team collaboration while at the same time supports retention risk management with valuable information.
- Based on the generated reports, graphics, and charts for every team member, the manager can create an individual development and retention plan for each employee and forecast potential HR risks.
- Leaders and HR managers can track the progress of the individual talents over time by teams or within the whole organization and how their positions within the matrices have changed due to the development measures taken.
Challenges for the organization and the team leaders
| Challenge | Our Solution | |
|---|---|---|
| Unestablished ground for defining the potential of team members | Clear structure for analysis of individual team members and their potential | |
| Risk that certain qualities and skills may remain unnoticed | Identifying hidden potential | |
| Lack of indicators that a team member considers quitting | Talent management risk assessment at team and organization level | |
| Defining reasonable and timely measures for the development of individual team members | An opportunity to prepare and assess the impact of the proposed development measures in the individual talent plans based on the analyses results |
Key benefits of the Talent Portfolio
- Helps in the proper resource planning.
- Provides managers with ready and structured analysis based on insights about the talents in the team and in the whole organization regarding their position in the Performance-Potential matrix and the retention prognosis.
- Ensures more accurate planning in terms of development, succession, and retention of talents in the organization.
- Creates a clear vision about the potential of individual talents by teams, and within the company as a whole and monitors their development over time.
- Identifies the most popular development actions among managers and the ones that bring the best results.
- Monitors how active the managers in the company are in developing their talents.
- Provides opportunity for interactive talent management training of the team leaders through a board game simulation.
- Free testing of some of the basic Talent Portfolio full web-based version features via the Talent Portfolio App, which can be downloaded from Google Play and AppStore.