Now is the Time to Focus on Talent Development
Yesterday, I had the honor of being the guest on DriveThruHR, a daily podcast that provides a short discussion about relevant HR issues. Co-host Nisha Raghavan and I talked about Success Labs, why companies should be developing leaders and why your high potentials need more than just training.You can listen to our entire conversation, or just read about the highlights below:
Why Focus on Talent Development Now?
Nisha and I talked about how now is an important time to think about the relationship between employers and employees because so many baby boomers are poised for retirement and younger workers don't believe in cradle-to-grave employment with one employer the way many in previous generations did. Organizations need to think about engaging and developing younger employees to make them want to stay in one place longer. So, now is the time to invest in developing younger employees, and transferring key knowledge and skills to them.
The Value of a Competency-Based System
As senior employees exit and pass on their knowledge to those taking over, and lower-level employees step into management and higher-level leadership roles, a robust competency-based development system is a great way to guide your company through the transition. It’s not just about succession planning, though -- looking at employees’ competencies can give you a map to align your business plan with your people plan. Your human capital risks and needs are closely tied to your business's risks and needs.
Training vs. Development
Nisha brought up a study that found millennials will make up as much as 75 percent of the U.S. workforce by 2025, and wondered how companies can address this through employee development. After all, many millennials won’t have a lot of experience, so won’t they need more training?My answer: yes and no. Leadership development is more than a short-term course or a one-time class. It’s an ongoing process that may require updating and course-correcting as employees grow and develop.Instead of training employees, leaders need to put the ones they're developing into positions where they gain real-life experience. This may include leading a team on a project, facilitating a rollout of an initiative or new technology, having to exert influence without authority across teams or departments, making presentations to small and large groups, or building relationships across the organization.Different leadership competencies are required at different levels. When you promote a high performer to a leadership position, you're moving her from an environment where she gets things done herself to one where she gets things done through other people. You will need to measure and rate her competencies at that level -- keeping in mind that they're different from the level where she was a high-performer -- and provide experiences that allow her to develop the competencies she needs to be a strong leader.Allowing your employees to test their skills and challenge themselves shows you what they’ve got -- and you may be surprised. They might not be where you thought they were, and need more development, or they may knock it out of the park and show you they're ready to advance. Either way, assessing their competencies is an important part of putting them on a path to development.If you'd like to know more about developing leaders, read our new white paper:
Success Labs is a leadership development and management consulting firm in Baton Rouge, Louisiana. For more than 25 years, our expert team of consultants has worked with hundreds of companies to explore their business potential and improve their company and cultural performance. Contact us to get proactive about your people strategy.
