Time For A Talent Assessment

Global executives with lots to do and real pressures to perform would be well served to take some time out from day-to-day firefighting tasks to assess the quality and sustainability of their current team…before it’s too late.

The competition for executive talent is escalating. Pressure on compensation is rising, along with expectations among the most sought-after candidates for some alignment between your corporate mission statement and how they want to spend the next chapter of their careers.

Although you may not hear it from your Human Resources people, your organization may already be at risk to lose some of its best and brightest leaders because it’s been too long since they received a decent raise, a meaningful bonus or perhaps even a laudatory tap on the shoulder.

As companies continue to globalize and look to foreign markets for future business growth, they’re intensifying the search for corporate high-performers and high-potential leaders, too. The executive talent market is heating up – in some places faster than others, for sure – and for this reason it would be timely to conduct your own audit of the talent on your team.
It is indeed time to take stock of your business unit, particularly if you’ve made-do with your current team of individuals for some time. Go ahead, ask yourself these questions:
1.    Who among my team can I least afford to lose to the competition?
2.    Who among my team has skills and experience that we may find particularly difficult to replace?
3.    Who among my team has demonstrated the most agility and alignment with our core business objectives?
4.    And who among my team has shown the motivation and resolve to achieve our corporate goals?


Asking these tough, introspective questions now may help you avoid losing someone, perhaps a handful of people, you can ill afford to lose right now. If you learn someone with great talent has tendered his or her resignation, you’re better off to skip a counter-offer because they’ll likely leave at a later date anyway. The key for high-performing executive leaders is to probe for dissatisfaction, to advocate for smart retention incentives, and of course to recognize your people before they look for it elsewhere.

Interrupting the important work that’s already on your desktop may seem a stretch at the moment. But bear in mind that even the smallest investment toward assessing how your current talent measures up to market needs and opportunities would be time well spent. After all, replacing key performers could multiply that work, and cause unnecessary disruption with customers and on your internal team.

However you approach it, taking stock of your human resources – outside the purview of your Human Resources Department – is something that can pay big dividends, particularly if you can spot a flight risk before he or she decides to ask on their dissatisfaction, whatever its cause.

The truth is that you’re the captain of your own ship. Your business strategy is the rudder. Your best people are the wind in your sail. Navigating around obstacles to new opportunities requires time, talent and the smarts to know who’s giving you their best and why you need to keep them.

Copyright © TRANSEARCH International 2015

 

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