ABSTRACT
This chapter examines how talent can be differentiated for the purpose of ensuring that corporate investment is made in the right calibre of people. The purpose of performance management is to ensure effective utilization of resources, particularly talent for the achievement of organizational goals. Feedback is a continuous process and is important to the performance of talent because it keeps the channels of communication between them and their supervisors open throughout the year. Monitoring and feedback create a culture in which the periodic review of performance is accepted as part of the normal process of managing talent. Coaching provides an opportunity for more frequent communication and feedback between supervisors and their teams, accelerates the development of high-potential managers and enhances the retention of valued talent. The risk of low employee engagement and loss of talent thus becomes high. Other forms of performance-related pay include bonus and achievement.
