When conducting Quarterly Talent Planning, the People Partner and Manager work together, but they have distinct roles.
Talent Planning
Successful organizations not only assess talent effectively but also frequently. Conducting Quarterly Talent Planning (QTP) is how we do that. QTP enables us to better understand our talent, seamlessly connect all talent processes, and plan effectively for the future based on performance and potential. This critical process requires close collaboration and communication between people partners, business partners, and associates.
The first step to conducting a Quarterly Talent Plan is recognizing the difference between high performance and high potential. Lines can get blurred when looking at the differences between performance and potential, which is why it’s important to understand the difference using Walmart’s Leadership Potential Model. Looking at the differences below, remember that annual evaluations are solely based on past performance and not potential.
Performance is measured by evaluating how an associate did when looking at their capabilities, objectives, and goals for the year.
- Uses business metrics to rate associate behaviors (role model, exceeds expectations, solid performer, and development needed).
- Looks at past performance.
Potential is measured using Walmart’s Leadership Potential model, which is based on AGILITY, ABILITY, and ASPIRATION.
- Uses the potential model to predict if an associate will move quickly into roles faster than their peers.
- Look towards future potential.
The Walmart Potential Model is a tool used to evaluate associates' career trajectory and whether or not they will accelerate faster than their peer group.
This video explains how the Walmart Potential Model is applied.
Effective Quarterly Talent Review meetings find a balance between individual career goals and broader business goals. Having reflected on performance vs potential, a manger uses the Talent Diamond Rating tool to come up with individualized professional development goals that will also grow the business. Managers place their associates into one of the four categories of the diamond. Talent reviews begin in the Talent Diamond and continue regularly.
Knowing about performance vs potential as well as where a person falls on the Talent Diamond allows people partners, managers, and associates to have a more informed conversation about potential roles that will develop an individual through experience. As associates look to fill roles within internal or external teams, having a succession plan ensures a strategy is in place before positions become vacant. Succession planning also provides an opportunity to build a succession of strong leadership.
How to Identify Successors
- Begin with the role in mind.
- What does the role require?
- What skills, capabilities, or experiences are needed for success?
- Will that change in the future? How?
- If the associate in the current role left, would the role change? How does that impact succession?
- Ensure the skills, experiences, career goals, and mobility of successors match future requirements of the role.
- Leverage career conversations to make sure business needs don’t conflict with the associate’s mobility or career goals.
- Don’t just consider promotability.
- What is the associate’s long-term career path?
- What experiences will help them get there?
The readiness rating tool is available to assign readiness. For Readiness Now (RN) you might ask: “If the role became vacant tomorrow, is there any reason we wouldn’t put associate in the role?”
Through Quarterly Talent Planning, individual professional development and the future of our business are in our hands. Although QTP is quarterly, reviewing potential, the Talent Diamond Ratings, and succession is most effective when it’s an ongoing discussion that seamlessly connects all our talent processes and people.
Watch this video to summarize all that you have learned about Quarterly Talent Planning.
QTP Discussion Challenge
Direction: Schedule a time to meet with your immediate supervisor to discuss your performance and potential and maintain regular communication with them about those areas.
Discussion Topics:
- How do they rate your potential based on your ability, agility, and aspiration?
- Where do they place you on the Talent Diamond Rating?
- What are your career goals?
- How can they support you?
