Today's companies must hit the reset button on their talent management strategy because chances are their policies are already outdated. In case you have been too busy to notice, your industry has changed and so has your workforce.
Talent management and an aggressive business plan most likely helped your company pull ahead of the competition in the past. Meanwhile in the last 3 years your industry has changed, your customer is more demanding, and your workforce is honing their marketability. Pressure and turbulence is reshaping your business.
No matter how good your strategy is on paper, whether it will keep you ahead of the competition will depend upon how your executive team has evolved. In all likelihood they have been under pressure to deal with a variety of disruptions akin to being caught in a continuous white water rapid.
A yes answer to any of these questions indicates a reset is necessary:
Are you leading talent with a mindset that applied to issues 3-4 years ago?
Are you measuring the same results today as you did then?
Have any of your leader's behaviours created retention risks in key talent?
Planning for rough water and experiencing it are very different. Executives are not exempt from stretch goals. The numbers may cover this quarter or this year, but there are situations that could be avoided or leveraged if executives realized they are in the boat and not on shore.
Outdated Mindsets Are Costly
Talent Management is only 12 years old and evolving rapidly. Combined with the speed of industry, economic and technology changes, you could easily find yourself behind the competition rather than ahead of them. Some leaders still view talent management as a cost versus an investment, and this affects priorities and resources.
Examine what aspects of leadership have been most valuable and what ones were essential to get your company through the most difficult spots. What can you carry forward and what's needed to stay on top of customer challenges?
Measuring The Same Results Could Sink Your Competitive Edge
Talent Management was instrumental in getting leaders to see their people as a competitive advantage. That meant leaders had to use systems thinking to identify who was essential to keep existing business and drive new business. This created discussions forcing executives to work through differences of opinion regarding an individual's value and contribution. Some leaders had their eyes opened in unexpected ways and found it necessary to throw sacred perceptions overboard.
Examine what the price of entry was then as compared to what it is now. What are customers saying about you and your business that goes against the grain? Will resisting that information help or hinder your business strategy and your client relationships?
I Didn't Sign Up For This!
This is a common complaint from those recently hired or promoted into a key role. Their mandate is to change things quickly - speed of execution, and bring others along. They hit the ground running and do well at inspiring support yet get stopped by one executive's actions or inaction. Leaders cannot embrace change without adapting their leadership practices.
Examine which executives are doing or saying things that indicate a 'Don't rock the boat' attitude. Look for signs of avoiding, stalling, or half-hearted commitment as well. The best clues will come from your director one on one meetings. Which leader is flexing muscle to protect the past versus engaging in true problem solving for today's reality?
Are Your Executives In The Boat Or On Shore?
Whenever an executive's behaviour is causing key talent to tread water or sink, you have a retention risk on your hands.
Judi Walsh has extensive experience transforming leadership behaviours in senior management teams. When business as usual is no longer possible, leaders are challenged to become more adept at execution and responsiveness. Building the business for tomorrow fails in firms where management relies solely upon traditional management principles
Intelligent management recognizes that change begins within the executive mindset and extends through their ability to influence outcomes in multiple ways. It takes courage to lead in new ways yet without it resilience, innovation and employee engagement will not happen.
She coaches critical talent and crucial teams to handle higher volumes of pressure and complexity to increase ability to execute projects and plans.