Where is Your Focus? on Your People or on Your Process?
In a recent article in the Investor’s Business Daily, Kevin Harlin points out that Employment consulting firms say it is vital to track and nurture promising leadership candidates even though the economy is sluggish. Steve Krupp, partner and leader of the executive talent management practice at Delta Organization & Leadership, asserts that if a company fails to engage and communicate its top performers, they might be inclined to depart.
Rather than focusing on your processes, focus on your people. They are your biggest asset. Remember that turnover can cost you double of just one employee’s salary. A survey from Delta found that most U.S. companies fail to monitor their best performers, even fewer communicate with these employees, and few top executives support such initiatives.
PPG Industries, a global glass, paint, and chemical firm, has been tracking its best employees for about a decade. Roughly 30 percent of workers are regarded as top talent, and just 1 percent is deemed suitable for the CEO position. Identified employees get first priority for training, special projects, and responsibilities. Executives also meet with these employees from time to time at informal settings like breakfast or lunch. Global business software firm SAP provides potential leaders with six-month fellowships in another division, typically in a different location, to ensure that these employees have adequate insight into the company.
The above synopsis of the article that appeared in Investor’s Business Daily demonstrates the need to evaluate talent from the first day of hire in terms of recognizing potential and people development as the priority for any organization. I really question whether companies today are focused on their future leadership and understand the need to develop people’s potential.
Innovative Leadership offers an Assessment Process called the Achiever Series that can assist you with people development and also compliment certain aspects of succession planning, downsizing or transformation.
We are a company that is focused on helping companies develop their potential of their people that will result in organizational effectiveness. Please call us at your convenience to discuss our Assessment Processes that can make the difference in the future of your company at 609.390.2830.