Who carries the “burden” for executive development and talent retention within an organization? Is it the executive or senior manager who aspires to greater things? Should they be spending their time planning their career path and seeking out new development opportunities? Or is it the employer who must take the lead in this process, through identification, selection, reward and recognition?
The central problem here rests with the fact the traditional mindset that underpins most executive development and talent retention must be changed. The “survival of the fittest” mentality that most organizations have relied upon since the end of WWII to validate who has the “right stuff”, must also be changed.
The new focus and approach has to centre on the overall “development of the fittest”, and that involves a more complicated dual-track approach. Simply put, if your organization fails to adequately provide its high flyers with both applicable work experiences and plentiful training and development opportunities, your top players will more than likely leave.
A core premise, within the new credo, and a very big philosophical change from even 10 years ago, is that an organization should not aim to treat all of its aspiring executives in the same way. In fact, the progressive organization should pro-actively “discriminate” when it comes to their High Potential Officers. Simply put, Talent Management means that the organization needs to find and create unique development solutions and streams for each and every manager with potential. There is no “one size fits all” approach, and generic formulae do not do enough to differentiate between capability, motivation and learning style.
There is another important point to make, and it has to do with the “soft middle” within most organizations. The fact of the matter is, while we may praise the “high potentials”, there is no question the “soft middle” plays a major role in keeping most organizations afloat. They may not have the same upside, or even the same work ethic, dedication or aspirations, but an organization that hopes to win in the market, has to make sure it’s “B Players” are better than the competition’s “B Players”.
In an important way, developing a new, stronger and more robust talent management process has two additional benefits. Aside from rewarding and recognizing your strongest team members – the “high potentials” – you send a strong message that will entice the moderate performers to rise to the occasion. In so doing, you pass ownership of that responsibility to the employees, and improve the overall fitness of the organization.
It appears that we have come to a fork in the road of this current crisis – as medical experts warn of a second wave of the virus and continue to assert the importance of social distancing…