The Least Utilized But Most Effective Way To Transform The Company – Cultivating Talents
“Sorry, this promotion not possible because we are still in the process of selecting someone suitable to replace you.”
“Joan seems extremely talented. What is your development plan for her?”
Many companies often do not focus on grooming talents within the company. Grooming talent can be categorized into two categories. One is succession planning and the other is management development. In fact, they are related and influence each other.
Management development program’s objective is to create talent pools to fill particular job classifications, focusing on the individual skills, competencies, and behaviors that make those jobs and employees successful in the future. Yet without developing your future managers and executives, it is impossible to produce a meaningful succession plan.
With a succession plan and management development plan set in system, the company can enjoy product innovation, create new client relationships, and identify different ways of achieving the overall business strategy. All these eventually add to the company’s bottom line.
So what is the best way to approach succession planning and management development?
- Key performance indicators to evaluate the person’s suitability for their position. If they are not performing up to expectations, there is a need to evaluate if they are suitable, trained appropriately or simply bored.
- Implementing periodic projects designed to stretch employees’ skills. Assigning a completely new project is an effective way to demonstrate hidden talent and an individual’s ability to shoulder new responsibility.
- Evaluation and development tools. Setting up assessment tools designed to evaluate employees’ capabilities in context of the company’s goals is critical to help managers identify employees’ true potential.
- The successful implementation of these tools requires a different set of mindset separate from the usual skills required for executing tasks efficiently. And creating them can be easy with the right guidance.
In fact, once you understand these fundamentals of cultivating talent within the company, it will work effortlessly. And it is easy to enjoy the benefits.
Imagine being able to:
- Identify talent within the company with objective performance indicators to report to management
- Be recognized for the ability to discover and cultivate talent and create innovation within the company
- Align the growth of the team with the mission of the company and enjoy empowered individuals to contribute significantly to the company’s overall growth?
Cultivating talent within the company is often underutilized yet it is one of the easiest ways to transform the company’s performance once properly set up. Are you willing to take the lead?
If you are keen to groom talent within the company, why not try our leadership style quiz which shows how you can categorize talent and groom them. Once you have identified your leadership style, it is easy to move forward as we are able to advise on the next step.