You need the best talent for your organization to thrive! Yes?
As the leader of your company, you’ve got to get intentional about strengthening your bench. Developing those high potentials so you can focus on the long term vision, meet with important customers and partners, and spend more time with your family and friends. Unless of course you enjoy working 60+ hours a week!
This weeks guest post is by John Hersey, President of TTI Success Insights, my assessment company partner.
I once heard Tom Peters, business management writer probably most well-known for his book “In Search of Excellence,” say if talent management isn’t the number one or two item on your board agenda, then your chairperson needs to be fired. Talent management is just simply that important.
Now more than ever, we need to put energy into intentionally developing our high potential employees. As our baby boomers reach retirement, millennials will be placed in leadership positions much more quickly, and we must be prepared to have the talent levels and bench strength to ensure continued success.
Let’s say you’ve reached the point in your talent management plan where you’re able to effectively identify high potential employees. Perhaps you’re even using a matrix tool such as a “nine-box grid” that measures an employee’s performance and potential, placing that individual in one of nine categories (box one being someone who is ready for promotion, box nine being someone who needs to go, and boxes two through eight falling somewhere in between).
It’s not enough to plot your employees on the grid. Now you’ve got to figure out how you’re going to develop your team and move those high potential employees into the number one spot.
Consider your employee review process. Like most companies, it’s probably an annual affair. Right? Unfortunately, for your high potential employees, once a year is insufficient.
To effectively develop and retain those high potentials, reviews need to happen at a minimum once a quarter. Honestly, even more frequently than that.
Moreover, what are you hoping to achieve during an employee review, and what tools are you using to increase your success?
Are you taking the time to identify how your employees are developing and where they have opportunities to develop further? Leveraging a research-based assessment tool such as TTI’s Talent Insights™ will provide you with a customized coaching framework that explores an employee’s behaviors and motivators and how they fit into, and enhance the role of his or her position, as well as the overall culture of the company.
Contact End Game Business to learn more.