Top Talent Strategies

“The toughest decisions in organizations are people decisions — hiring, firing, promotion, etc. These are the decisions that receive the least attention and are the hardest to un-make,” according to renowned management expert Peter Drucker.

The data are compelling. Organizations that make the acquisition and retention of top talent a key business imperative out-perform their competition, consistently and at a considerable margin irrespective of industry or profession. For these leading companies, talent management is an essential business strategy, one that is not delegated to “HR,” but is formed, planned, funded, and monitored in the C-Suite with the Chief Executive Officer leading the effort. Why then are so many organizations slow to adapt to this key strategic need causing them to underperform in what is arguably the most important business metric there is?

While it is easy to understand the concept of having your roster filled with predominantly “A players,” it can be difficult to plan and execute. However, as the research clearly shows, it is well worth the effort.

Consultants Brad Smart and Geoff Smart have pioneered an effective approach to building the best business lineup. Their top-selling book, "Topgrading: How to Hire, Coach and KeepPlayers," details the extensive research they’ve conducted, which resulted in a comprehensive methodology for planning and executing this key initiative.

The process begins with a comprehensive list of competencies and career “derailers.” Sharing these with each manager is an important first step. Take them one at a time and discuss the relative merits of each. Determine which ones are appropriate for your organization. Communicate this to team members to align them with this process and expectations for how they will behave and perform.

That done, managers can now effectively monitor each direct report in real time. Remember that to monitor means to observe actions against predetermined standards. Those standards have been set, communicated, and agreed upon in advance, making the evaluation process understandable and transparent. This process is also used when evaluating prospective job candidates.

When counseling recent graduates about the interview process, I encourage them to ask the following question (at an appropriate point in the discussion). “How will my performance be monitored, measured, and evaluated, by whom and how often?”

Here are three questions for CEOs: Are there one or more employee(s) in your organization currently underperforming? Are your team members aware of this? What is the likely impact this is having on your organization?

For more information on strategies for building a high-performance team, contact me at joe@ajstrategy.com.

The preceding content was provided by a contributor unaffiliated with Printing Impressions. The views expressed within may not directly reflect the thoughts or opinions of the staff of Printing Impressions. Artificial Intelligence may have been used in part to create or edit this content.