Fusion Talent and Compensation - Creating Successful Talent Management

Fusion Talent and Compensation – Creating Successful Talent Management

Lila RavveInoapps

Talent Management

• Where is the organization going? • What are overall organizational goals?• How can Talent and Comp support the overall goals?

Oracle Cloud - Talent Management

• Performance Management• Goals Management• Talent Review• Succession Planning • Compensation Management

Performance Management

• Mid Year Reviews• Annual Reviews• Development Plans

Goal Management

• Define Goals for Incentive Compensation Plans• Define Goals for Performance Plans• Cascading Goals• Organizational• Departmental• Manager

• Employees can share goals with others

Talent Review

• Provides facility for conducting Talent Review discussions• Can dynamically move employees from one box to another as you

discuss• Can drill into employees to review more details• Create final talent rating for talent• Determine plans for top talent as well as rest of staff

Succession Planning

• Top Layers of Organization• Top three to start • Hard to maintain the lower you go in the organization

• If someone leaves• Who are potential successors?• External vs. Internal Candidates• Talent Pools

Oracle Cloud – Talent Management

• Employee Self Service• Provides a place for employees to define their goals:• Performance Goals• Career Goals• Personal Goals

Connecting the Pieces

• Goal Management• Development Goals• Based on Career Path• Based on Personal Interests

• Competencies• Improve those needed for current role• Build or improve those needed for Career Path goals

• Performance Goals• How will the employee be evaluated for their annual review• Where do you want them to focus their time and effort?

Connecting the Pieces

• Performance Management• Define Performance Goals• Bring in to Performance document• Use as part of performance evaluation

• Social Network – Kudos• Bring in to Performance process to provide additional insight

• Talent Review• Calibration of talent• Ratings in line with organizational scoring

Connecting the Pieces

• Talent Review• Performance Ratings• Potential Rating• What is potential for this person?• What areas of the organization would best be served?

• Talent Review Meetings• Evaluate Talent overall• Evaluate Talent by Leadership• Develop plans for Talent

• Development Plans• Succession Plans

Connecting the Pieces

• Succession Planning• Identify potential successors from goals and objectives defined by

employees in their personal goal and development plans• Identify successors from Talent Review meetings • Who are top talent?• Who is ready for new challenges?

• Individuals identified as successors should have Development Plans that will allow them to step in to roles within 2 – 3 years• Individuals identified as successors should have alternative career

plans defined if blocked from moving up

Connecting the Pieces

• Compensation• Retaining good talent involves compensating them appropriately

for their efforts• Market surveys – are we compensating in line with our peers?• Organizational review – calibration - are we compensating in line

with the organization?• Compensation plans should motivate and encourage the right

behaviors and goals

Connecting the Pieces

• Compensation• Can pull performance ratings in for use in Compensation planning• Can pull Talent Review ratings in for use in Compensation planning• Can pull Goal completion percentages in for use in Incentive

Compensation allocations

Questions?

• Thanks!