Understanding the impact of hot skills on one’s business model and organizational capabilities can be both a challenge and an opportunity and, if not done thoughtfully and carefully, can result in a number of HR and economic risks. Knowing what hot skills are in this day and age, how they should be managed and compensated, and the risks and implications of ineffective choices for both one’s hot skill employees and broader workforce have become a critically important HR strategy issue for many employers.
Performance Management (PM) has become a core organizational strategy and management priority for many organizations. PM can effectively be used to drive accountability, quality, productivity, competence, and rewards and recognition. Going beyond simply a tool to drive “appraisals” and incentive rewards, it can drive a sophisticated quality and performance-based culture.