Does your company make it a strategic imperative to find, develop, manage and retain strong leaders? If not, spearhead a campaign to identify and reward the best talent on your projects, committing to these four principles.
Organizations worldwide are struggling to find and keep strong leaders. Nevertheless, most companies’ efforts to manage talent have actually become stagnant. Recent research from the Conference Board reveals that only one-third of organizations can accurately identify their future leaders. What’s more, a 2006 study from consulting firm Booz Allen Hamilton reports that performance-related turnover in North America reached an all-time high.
The bottom line: We’ve got fewer experienced leaders to handle an increasingly challenging business environment. The good news, however, is that these obstacles also represent opportunities to fundamentally change how we manage talent. Now, more than ever, we can and should treat talent management as an imperative and address the issue at the strategic planning table where it belongs.
Great companies hire great talent and go to great lengths to develop and reward that talent. They also make sure their talent is aligned with the organizations’ business strategy and corporate culture. To join the ranks of top talent managers, consider — and commit to — four key areas: