Talent Management III

Talent Management – It isn’t just about succession planning.

Many companies claim that they have a talent management strategy, when in fact, what they have is a contingency plan for replacing those occupying the top slots). Of course, succession planning is a critical component of any talent strategy, but the two are not synonymous.

Companies that are serious about talent management look across all levels and functions – they don’t just limit their time and finite resources to succession management.

Their approach is defined by three key distinctions:

  1. They balance the focus on “critical” positions and key players
  2. Their energy is directed at building a “pipeline” of a ready supply of leaders, rather than matching individuals with a specific future role
  3. They are careful not to treat all roles alike. They plan for the future security of “business critical” roles – those roles identified as adding unique value

If there is one rule of thumb that should guide your talent management efforts, its this: Your talent pipeline is only as strong as its weakest link. While there is no denying the importance of succession management, successful organisations need effective leaders at all areas and in all functional areas. If you are weak in one area of the pipeline, its likely to affect other areas of the organisation as well.

Building a strong talent pipeline is the most effective way to mitigate future risk, by ensuring that your organisation will have the leaders it needs to address future challenges.

Dont forget Mid Level Leaders

While there is a tremendous level of awareness that the need to focus on succession management and high potentials, organisations are increasingly acknowledging the need to develop mid-level leaders. As the critical link between the strategic level and the front lines, mid level leaders have an important, if overlooked, role in strategy execution.

Discover how DavittCorporatePartners can help you to:

Develop Leadership in Your Organisation

Win the War for Talent

Realise Individual Potential

Align Behaviour with Corporate Values

Talent Management

Talent Management I: What is Talent Management?

In simplest terms, it is the recruitment, development, promotion, and retention of people, planned and executed in line with your organisation’s current and future business goals.

An effective talent management system builds a winning organisation by:

  • Connecting corporate strategy with the leadership required to execute it
  • Defining what great talent looks like
  • Putting the best talent in every job
  • Developing the right skills at every level
  • Identifying and developing high potentials as part of a proactive succession planning process
  • Managing the performance of all employees- at all levels- to drive bottom-line performance.

Smart companies are getting wise to talent as a differentiator. Research bears this out: a whopping 96 percent of chairmen in a recent survey ranked talent management as highly important to the success of their organisation

 

Talent Management II: Leadership and Strategy

Your leadership needs are informed by your business strategy, including measures of success. Yet, most companies’ strategic business plans don’t incorporate an aligned strategic talent plan. This amounts to not thinking through how the business will be executed. To ensure your business and talent strategy complement each other, start with the end in mind. Based on your business strategy, what future challenges will leaders likely need to address? What kind of leaders do you need? And how many?

Can you articulate your talent strategy and how it ties to and supports your business strategy? If not there’s a good chance your business and talent strategy are out of alignment.

Conducting a Talent Audit

Talent Audits typically involve assessment of significant groups or whole strata within the organisation (e.g., the top two senior leadership levels), to give a robust evaluation of an organisation’s capability to execute desired strategy, as well as individual readiness to step up to various leader imperatives.

Discover how DavittCorporatePartners can help you to:

Develop Emotional Intelligence in Your Organisation

Win the War for Talent

Realise Individual Potential

Align Behaviour with Corporate Values

Can Low Self Confidence be Instrumental to Career Success?

Can Low Self Confidence be Instrumental to Career Success?

 

In this months HBR, Tomas Chamorro-Premuzic (business psychologist at UCL) re-examines the cliché that high self-confidence is instrumental to career success.

He even argues that, low self-confidence can make you more successful. Chamorro-Premuzic spent years researching and consulting on talent, before concluding that self-confidence is only helpful when it’s low. Whilst extremely low confidence is not helpful (inhibits performance by inducing fear, worry, and stress) just-low-enough confidence can help people chase more attainable, and realistic goals. If you are serious about your goals, low self-confidence can be your biggest ally to accomplish them.

 

  • Lower self-confidence makes people pay attention to negative feedback and be self-critical:Whilst low self-confidence may turn people into a pessimist, pessimism combined with ambition can produce outstanding performance. To be the very best at anything, people need to be their harshest critic (most individuals tend to ignore negative feedback). Exceptional achievers always experience low levels of confidence and self-confidence, but they train hard and practice continually until they reach an acceptable level of competence.
  • Lower self-confidence can motivate people to work harder and prepare more: When people are serious about their goals, they will have more incentive to work hard (low confidence is only demotivating when people are not serious about their goals). Most people like the idea of being exceptional, but not enough to do what it takes to achieve it.
  • Lower self-confidence reduces the chances of coming across as arrogant or being deluded: According to Gallup, over 60% of employees dislike or hate their jobs, as a result of having narcissistic bosses. Lower self-confidence reduces not the chances of coming across as arrogant, People with low self-confidence are more likely to admit their mistakes — instead of blaming others — and rarely take credit for others’ accomplishments. This is arguably the most important benefit of low self-confidence because it points to the fact that low self-confidence can bring success, not just to individuals but also to organizations and society.

Discover how DavittCorporatePartners can help you to:

Develop Leadership in Your Organisation

Win the War for Talent

Realise Individual Potential

Align Behaviour with Corporate Values

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An Evening with Charles Handy

An Evening with Charles Handy

Prof. Charles Handy interviewed by Brendan Madden, CEO of Relationships Ireland at the Mansion House last night.

An inspiring, insightful, enjoyable and optimistic talk by Prof. Handy. His new book and his wife’s photographs added to the experience. Liz Tandy provides great pictures which illustrate the world view of her social philosopher husband.

Discover how DavittCorporatePartners can help you to:

Develop Leadership in Your Organisation

Win the War for Talent

Realise Individual Potential

Align Behaviour with Corporate Values

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