Written by: Tim Saumier, CEO
Now you’ve spent all this time, effort, money, etc. to get this talent aboard what are you going to do to keep them? Moving on to Part 4 (Read Part 1, Part 2, and Part 3) of this multi-part conversation as it relates to the “Integrated Talent Chain” (ITC), I want to focus on what happens after you’ve secured the talent and what you need to have in place to develop this talent that you’ve worked so hard for. I’m talking about a formal Talent Development (TD) process. Some companies do a decent job but most companies do not, which I think is more related to ignorance than the desire to not do it. It’s amazing the effort and money companies spend on recruiting and onboarding but they fail to see the real cost of losing someone due to the lack of development. You may argue that this needs to be organic. I won’t disagree but we need to have a standard process to help guide this process.
First – what is a formal TD process? One man’s opinion (mine). It’s what we do to not only retain but also make our employees better under our watch. Ideally we’d like to develop all employees but not all employees want it or deserve it. Hence the reason why we have to select the top 20% and pour our energy in to them. This 20% will deliver 80% of the results you are looking for ultimately (pareto principle). These people provide a higher return and expect and deserve the attention of the company. The company has to do their part and take care of them and develop them. These high-potentials are treated differently on purpose – they are given a lot more freedom, are given first crack at stretch jobs (internal mobility), mentors / coaches, c suite visibility, training & development, invitations to top leadership meetings, leadership training, advanced educational courses, long term equity, and even higher raises (versus the typical merit raise). The challenge is keeping the egos in check. Sometimes a high-potential needs to leave your company. If they do, let them go gracefully and wish them well.
While this concept of having a process with specific touch points may seem like an abstract concept, it is something that can be developed in to a structured process where leadership can be wrapped around the process to drive its execution. Herein is the rub though:
Most managers don’t take this serious and nor do they want to do this.
Massive mistake and if you have people in your organization who don’t want to do this they should be removed from leadership. If they are not showing specific and measurable results in the area of developing talent, they should be removed. I would go so far as to tie part of their income to their ability to achieve “people” metrics….this could include # of people promoted, # of people who they lateral out to another group, # of people who resigned (negative), etc. Don’t misunderstand me, these people need to be trained on how to be a leader and given the tools & processes before they can be held accountable. Most people put in leadership roles are not ready. We need to help them get ready.
So how do we get TD going? Start by mapping the process. Use a cross-functional team that incorporates your target audience (high-potentials). Yes they will come up with some ridiculous things but keep an open mind. Once you have the process, do a gap analysis on what’s lacking, of which you will find it will not only be process but it will be leaders and KPI’s. From their put a CTO (Chief Talent Officer) in place to own and drive the process. This is not an HR professional! I want to continue on this subject but I will hold out until next month to talk about this area.
Before I go, I will leave you with this. I thought the timing was perfect: I find it extremely interesting that a long-time client of mine reached out to us to start to work on hiring a non-traditional HR Leader for their global business where they are focused on being a true strategic business partner that can not only understand the business but also truly drive the business. They shared with me that they’d prefer a person who has run a business and wants to move in to HR and bring that level of business acumen to this typical administrative function. They went so far as to say they would consider someone who has never been in HR because they have a solid #2 in HR who can handle the administrative side of HR. Sounds pretty forward thinking to me and directionally what I’ll be talking about as it pertains to a true CTO.
Again, I welcome your thoughts and feedback. This is one man’s opinion on the Integrated Talent Chain. You can find me on LinkedIn and at Twitter you can find me at @timsaumierTI. Also, you can learn more about TYGES at www.TYGES.com, on Twitter @TYGESInt, or here on our blog.
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