“How do I stop the headaches without firing my people?”

You own the business and so all the problems that can’t be solved by others end up in front of you.  You have someone who handles personnel matters, but that means the transactional side of HR.  The personal issues, interpersonal conflict, lack of performance, all of the soft, squishy (but really difficult) stuff comes to you.  And you wish you could make it go away without needing to fire someone.  Maybe you can… (more…)

Meltdown, bailouts, recession–the last six months have provided quite a crash course in economics for us.  There has been a lot of talk about Wall Street vs. Main Street, as if you could easily separate the two.  The truth is, you can’t.  What is needed right now is a serious capital reinvestment in the economy.  I’m not talking about infusions of cash and liquidity like the Federal Reserve has been attempting.  I’m talking about an investment in human talent. 

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Last week I was in a session with several executives benchmarking a job.   That term is used to describe a number of different activities or approaches, so let me give you an insiders view of what we did.  

Our task was to determine what the organization needed from this job for superior performance (in our case it was the job of President of the company).  We discussed key results that the person filling the role of President was accountable for producing.  When we agreed on the five key results, our assignment next was to “let the job speak”.  (more…)

Pardon the somewhat philosophical title for this post.  But I do ask it with some earnestness.  I commented before about how “talent” is climbing up the list of important business issues that executives are paying attention to.  I also noted that CEO’s seem to have great difficulties explaining what they mean by talent.

Here’s why:  they lack data.  Hard measurements and operational data belong to the CFO and the production side of the business.  When it comes to talent, we can’t agree on what we’re talking about because we simply cannot measure it.  The truth is we can, but most people don’t know how. 

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New research highlights how important the idea of “talent” has become in the business world.  It is no longer a concern of the more progressive HR departments; trends indicate that it has become a key business issue that executives are paying close attention to. 

An annual survey of executives by the Aberdeen Group shows that over the past year talent planning has risen from tenth to second on the list of top ten business issues that companies are facing today.  This is really striking to me.  What I’ve encountered, however, is that executives can’t agree on what “talent”  really mean (beyond a superficial synonym for “our people”).

What do you think-why do we have trouble defining talent?

First, a confession: I’m tired of the pundits and media piling on about the economy.  Yeah, things are messy and there are people having a tough time.  But there are other things happening too.

Layoffs mean that some good workers are getting indiscriminately released into the pool of the unemployed.   In other businesses, the top talent is biding its time, ready to move on when better times and better opportunities appear.  Smart leaders are making investments in discovering, measuring and developing their top talent. 

One problem is that most leaders don’t see the full extent of the talent they have.  Top performers are not the only talent in a company.   Leaders MUST get better at discovering the talent they have and learning what talent really looks like.

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Simple question:  Which is most important to success, talent or hard work?

There is a classic debate about muscle and perspiration vs. brilliance and natural intelligence.  Natural ability is certainly a tremendous help, at least it is an advantage.  Yet I’ve seen quite a few examples of really gifted people who didn’t have the right opportunities, or they didn’t apply themselves, or they squandered what they had through bad choices.

Hard work to me seems indispensable.  You cannot do without it, unless you are riding a mighty wave that is carrying you along.  The problem is what do you do when the wave plays out before you’ve reached your desired destination?  Without hard work, your wave riding is done!  So, success really is a lot about hard work and not quitting until you reach your goal. 

It’s really a false choice to try and decide which is more important.  If you have little talent, you’re going to need a lot of hard work and heart.  If you have a lot of talent, you’re going to need at least a little hard work in order to get a shot at success.  The more hard work you put in, the better rewards you’ll reap.

Let’s avoid the false choice.  The real key to success is an appropriate mix of talent AND hard work.

We interrupt this holiday shopping season with an important announcement.

Retail is down this year.  The world economy is in a slowdown mode, a recession that is being felt in many places across the world. 

Some businesses are playing pure defense and fighting for survival.  Not all of them are making it.  Others are ” hunkered down”  and trying to ride out the storm.  A few are looking for opportunities and places to grow.  All businesses must do some sharp thinking and planning about top talent.  For those who are shedding jobs and having to let workers go, the challenge that follows is:  how do we keep/retain our top talent?  A similar question occupies those who are playing defense and riding out the storm, though perhaps with less urgency felt.  The entrepreneurs and opportunists see this as a prime time to scoop up additional talent.

It’s not easy to focus on talent strategies when the headlines get darker and steal our attention almost daily.  Those who develop a discipline and ability to keep their eye on talent are the ones who will pull through this and be farther ahead of the game when things do get better.  Business cycles show that there are better times ahead.  It takes vision now to plan for the coming growth and to put/keep the right talent in place to harvest it.

I had a colleage ask me today about talent management and my experience with how employees respond to talent management efforts at work.  Here’s some of what I shared with her.

From the employee side, there is a natural concern about fairness and favoritism; will Talent Management (TM) be administered fairly and give everyone an equal chance to succeed?  Will it be a cover for leaders who are championing/grooming/promoting their own favorites?

Also, most TM efforts or programs have some kind of measurement included with them.  Some of those include personal profiles or talent assessments.  Some people have a natural fear about how those will be viewed or used by management.  Other measurements are more tied to performance management or productivity or contribution to the company.  Some employees don’t like the additional scrutiny that comes with measurement–period.

Honestly, a lot of “talent management” efforts are really HR-sponsored drives that are modest in their goals/design and don’t have real staying power.  Employees have a legitimate right to question if TM is a “flavor of the year” hobby that will be eventually abandoned in 12-24 months.  That often seems to be what happens unless management is fully committed to it and is willing to make it a robust, long-lasting change in how the organization thinks about and practices talent management.

Of course, I encourage leaders who are committed to developing top talent to exercise some empathy and think first about how their efforts are going to be received by employees.  It can avoid a lot of pain and waste later on.