TALENT MANAGEMENT: Critical Tool for Sustainability

The mantra we hear from business after business in any sector is: “how are we going to find the high performers we need to help us sustain our efforts to be high performing?” I think we are starting to realize the true meaning of the statement, “our employees are our most important asset”.

We have all read an article or the seen the data related to the baby boomers retiring out of the workforce and significant burden that will placed on organizations to replace that talent drain. The numbers are overwhelming, and even though I believe the marketplace will not experience the full force of the predictions, there will be a heightened search for talent to support growth and the needs of continuous improvement. High quality people are the heart and soul of business success. It is people who innovate and problem solve, people who provide the customer service that entices repeat business, and people who execute the work activities that deliver the results a business is seeking.

In the absence of talent, sustained success is virtually impossible. And with the limited availability caused by the competition for that talent, organizations must recognize that their people are the most important asset and place meaningful value on both developing that talent and retaining it. Talent management can mean many things, but at its most fundamental level, it is about finding good people that can fit well into your business, developing the talents of those people to meet the skill and knowledge needs of the work, and nurturing a work environment that acts as a deterrent to employees wanting to leave. Organizational leaders must set the tone for all three by being strategic in identifying the positions that must be filled, holding managers accountable for the development of their people, and modeling the values they hold up as defining their organization of the future.

We can't avoid the all-too-often predicament that allows these things to be addressed out of crisis. When our backs are up against the wall, we can end up hiring someone just to fill a key position as fast as possible rather than intentionally seeking the candidate we truly believe can meet the needs of the job. Some positions will require very clear technical skills and knowledge while others will not. But in both cases organizations can not afford to overlook who the person is. The cost of an ineffective hire has become very expensive and one of the determining factors that needs much more attention is whether a candidate will blend with what the organization values. Hiring someone who does not fit is a lose-lose proposition because, in the longer perspective, the new hire will be unhappy and he or she will probably make those around them unhappy and less productive.

When it comes to developing this new talent, again, be intentional about the transition. Make sure they see how their responsibilities support the business' success and how their performance will make a difference in specific ways. Most people take pride in their work and give more than demanded when they believe it is important and it is appreciated. Let them move forward through small wins; gaining expertise and confidence for specific pieces of their job, even if it is one step at a time. All of us have experienced the positive feeling of doing something effectively and efficiently for the first time. Success will breed success and a manager can really help reinforce that by noticing progress and expressing both appreciation and confidence to that new person taking those first steps. In a very short time, our new hire will be able to run a strong race of performance.

Finally, the person in charge will set the tone for what is okay, what is expected, and what is valued. When we consistently communicate and act in ways that are the example of what we expect of our people, it is very difficult for someone to defend inappropriate behavior. If we talk about it, then do it, and then give feedback that recognizes the positive and challenges the negative, we are defining the workplace environment. People will thrive in an environment that allows them to feel involved, to be able to have influence, to believe what they do matters, and to feel appreciated. It is hard to entice talented people out of that kind of environment.

Sustaining success involves many things, not the least of which is managing the talent that resides in the human assets. Pay attention to your people and your people will pay attention to the business.

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