“Talent” is one of today’s business buzzwords. Business leaders often discuss their need for talent, the development of top talent or their lack of a
talent pipeline.
But when I talk about talent at My Big Idea™, I am referring to the unique talents each of your individual employees possess.
What is Talent?
Talent is more than just having an aptitude for a skill. It is the realized value that an individual brings to an organization, both tangible and intangible. Often, it is not until a truly talented individual takes over a position that management realizes the difference talent can make.
They have long-term goals. Talented individuals are excited about opportunities and have a plan to reach their goals.
They’re resourceful. Thinking (and acting) on the spot are a sign of talent. They are ready to react at a moment’s notice and are prepared for anything.
They get results. Talent brings success. Employees who consistently produces excellent results are driven by a need to succeed and will work to ensure they accomplish their goals.
They bring passion. Passion is an intrinsic value that can’t be quantified but is a key indicator of talent. When an employee is passionate about what they do, it sets them apart from others with mediocre abilities.
How to Develop the Talent of Individuals Within Your Organization?
Be a role model. Regardless of how much talent an individual has, there is still a need for development and learning. Demonstrate your commitment to talent development through transparency about your own learning process. Be open about any struggles you may have, success you’ve experienced and the value of the training you received.
Focus on the importance of learning. What goals do your individual employees have? What do they want to accomplish? Help your employees strategically develop their talents through workshops, seminars, and conferences. Align their goals with their talents and help them to move forward on their journey, and show them how their unique talents can help your organization reach its goals.
Provide opportunities for development. Allow employees to take on challenges that will stretch their abilities. Allow room for failure, and for learning from their mistakes. Use coaching to reinforce skills as necessary. Celebrate the process of learning – even if the outcome wasn’t as expected or desired.
Is it Possible to Have too Much Talent?
According to a
study released by Organization Science, yes. They studied more than 6,000 analysts to find out if having too much talent in one location could be detrimental to the organization’s results.
They used the example of the 2004 U.S. Olympic Basketball Team. Dubbed “The Dream Team”, the roster was full of NBA players who were expected to outperform the other nations. However, they turned in dismal results, and barely won the bronze medal. How could this happen to a team full of superstars? The superstars, it turns out,
were more concerned with ego than teamwork.
They failed to work as a team effectively, and the results reflect their difficulty.
Business leaders are often focused on hiring “top talent” individuals but fail to recognize the importance of having a team. Individual talent should support the overall work of the team, not supersede it. Focus on individual talent, but also be aware of the overall talent of the team.
Talent is important – both for individuals and for teams. How can you develop the talent within your organization?
Michele Bailey is president and CEO of
Blazing Agency and
My Big Idea™. These two lines of business work congruently to support her clients’ success.
Businesses are struggling to fill key roles within their company. They are attempting to drive corporate growth through sales tactics, strategic partnerships, and other means, but are missing the powerful tool they already have.
Many companies fail to utilize the greatest asset they possess. Want to maximize your corporate growth potential? Learn to harness the power of your secret weapon: your employees’ talents.
Why cultivate your existing talent pool? Losing key employees can have a detrimental effect on a company. It has
financial implications for corporations.
It can cost the company anywhere from 6 - 24 months’ salary of the employee who left. Building an internal talent pool can save the company the expense and time it would take to hire and train an outsider.
How can you maximize your secret weapon?
Become a people company. While 55% of senior-level management feel their company
put people first, only 29% of their employees agree. If you wish to become a people first company, you’ll need to eliminate the disconnect between leadership and the rest of the company.
Promote from within. Many companies post available positions and allow their staff to apply, but plan on hiring from outside the organization. Employees may apply, but no one is ever promoted. Over time, this will demolish corporate morale. In addition, the new employees face a resentful staff and negative feelings will fester.
Cultivate corporate culture. What is the culture of your organization? Do you have a growth mindset? Do your employees promote teamwork and innovation? Cultivate an atmosphere where leadership can be developed at every level of your organization.
Delegate. As companies grow, it becomes impossible for leadership to handle everything. The result is a micromanager who undermines their staff and refuses to allow anyone else to do their job. As difficult as it may be, allow employees to take on new tasks. Give them room to fail and help them grow. The investment of time and effort will pay off as you discover the hidden talents your employees may possess.
Work for their happiness. Happier employees are more devoted to their jobs. They are more engaged and more productive. Show trust in their abilities and give them respect by allowing them to do their job.
Invest in your employees. Provide development opportunities for your employees. Offer training classes, resources, and support that not only help them do their job but help them become better individuals. Ensure that your compensation package is competitive. Offer incentives and bonuses for those who are excelling.
When you use your employees as your secret weapon, your company is destined for success.
Richard Branson once remarked, “Train people well enough they can leave, treat them well enough so they don’t want to.” How can you harness your secret weapon today?
Michele Bailey is president and CEO of
Blazing Agency and
My Big Idea™. These two lines of business work congruently to support her clients’ success.
You know that some of the best leaders come from within an organization. They are already in tune with the organization’s culture and understand the company’s vision.
One of the most effective methods of cultivating leaders is to establish an internal ‘talent pool’. By identifying emerging
leaders at every level of an organization, you can provide coaching and training. This will ensure you always have a pool of leadership to draw upon as needed. But where do you find emerging leaders?
Sometimes, it can be difficult to
identify individuals who would be an effective leader. While every person is an individual, most leaders exhibit some of the same qualities. This can make it easier to help you seek out potential leadership candidates. Wondering how to spot these hidden leaders? Here’s who to look for.
Team Players
Leaders (whether they realize that’s what they are or not) understand the value of working with a team. They get along with others and are respected by their coworkers. They are strong collaborators and seek feedback from others within their group. Look for the person who is always at the center of a group and who the other group members turn to for advice.
Business Thinkers
Some good leaders are strategic thinkers. They have a business mindset that allows them to see potential problems and solutions. In addition, they have a strong understanding of the industry to which your business belongs. Look for the employee who has well thought out solutions to strategic problems.
Agents of Change
If you have an employee who regularly suggests alternative ways of doing things (and those ways are an improvement over the current system), they may be an emerging leader. They’re the first to volunteer for a new project, love to take on a challenge and aren’t afraid to take risks. Look for the person who lives by the motto, “Let’s DO this!”
Teachers
Leaders know the value in helping others learn. They aren’t afraid to share their knowledge and can explain concepts and procedures in a way that others can understand. They offer to train new employees and are a great resource for people who need a refresher on how to do things. Look for the person everyone goes to for help.
Achievers
In most cases, emerging leaders are driven to succeed. They are at the top of the producer’s list and consistently deliver results. They outperform their peers and encourage others to work hard. Look for the top performers in every department.
Emerging leaders can be hiding in plain sight at every level in your organization. By identifying these individuals, you can begin to offer coaching and opportunities to further develop their leadership skills.
Offer them opportunities to lead others and include them in the management of key initiatives. Establish a leadership development plan that will strategically move them into a more prominent role as their skills improve. Emerging leaders are an asset to your organization.
By building your leadership team from within, you create a culture of growth that will permeate every aspect of your organization. Who will you discover today?
Michele Bailey is president and CEO of
Blazing Agency and
My Big Idea™. These two lines of business work congruently to support her clients’ success.
These basic mindsets affect our core set of beliefs and can have an effect on how we view both success and failure in every aspect of life.
As a business owner, employer, or company leader, it is vital to understand the mindsets of your employees.
The Difference Between Fixed and Growth Mindsets
Individuals who have a fixed mindset don’t believe that they can change. They don’t think they can increase their knowledge and they rely on what they think they know.
Growth mindset individuals, however, believe that they can increase their ability and their intelligence. They view failure as an opportunity to learn, and they thrive on feedback.
Why is this important? In the workplace, this can mean the difference between stagnation and growth. A fixed mindset viewpoint can cause people to play it safe, reject constructive criticism and be disengaged with their job. Growth mindsets allow for productivity, workforce engagement and a thriving company.
Developing a Corporate Mindset
How do you want your employees to
think about your company? What mindset do you want them to have as they make decisions that affect the day to day operations?
Do you want your company to look toward the future or merely plod along? Most business leaders would agree that they want their corporations to succeed and grow. Define a growth mindset vision for your company and share it with your employees.
Provide a Shared Vision
Employees need to know that they are part of a larger mission. Demonstrate the importance of each component in the business and show how everyone contributes to reaching the corporate goals. When people feel valued and appreciated, they are more engaged in their work and more likely to adopt a growth mindset.
Model the Growth Mindset
Be transparent about your own mindset. Demonstrate how to think ‘growth’ in corporate decision making. Tie your decision making to the company’s long-term corporate goals. Be open to feedback from your team, and model growth mindset thinking even after failures.
Provide Individual Coaching
Fixed mindset individuals often become defensive when faced with criticism. They may need
individualized coaching on how to use constructive feedback as a growth opportunity. Help them embrace any challenges that arise and develop a plan to deal with their “triggers."
Use Feedback Effectively
Studies show that
effective feedback, conducted more frequently, can help your employees feel more comfortable about coming to you for advice. Learn how to mix constructive feedback with positive remarks in a manner that is well received.
Celebrate Success
One of the most effective components of a growth mindset is celebrating the successes of others – even in the face of our own failures.
Envy can keep your employees from moving to a growth mindset. A culture of success and growth, however, rejoices when anyone has a win. Growth mindset employees realize that their turn at success is possible and may be next, so they can be happy for others now.
Michele Bailey is president and CEO of
Blazing Agencyand
My Big Idea™. These two lines of business work congruently to support her clients’ success.
To propel your company to success, you need to attract and retain top talent individuals. To take that a step further, you need to ensure that your company has leaders who can help guide employees through the challenges every business will face.
Finding the right leaders is difficult, everyone says. Do you recruit leaders from outside your organization? Promote from within your existing employees? Before you try to find leaders, however, you need to ensure that you create an environment that leaders can’t wait to join.
Wonder if your company is attractive to potential leaders? Ask yourself a few key questions.
Have We Defined What Leadership Looks Like?
Often, business leaders confuse “leadership” with “management”. A management level employee may be a leader, but not necessarily. Likewise, someone in a lower level position may be a leader, even if they have no positional authority.
Before you hire a leader, make sure you know what leadership skills you need. Do you need someone who can institute change quickly? Does your workplace need decisive decision making? Determine
your leadership needs to ensure you are bringing in the right people. Look around your company with new eyes and recognize that leaders can be present in every area of your organization.
Are We Cultivating Leadership Roles?
Does your company
cultivate and value leaders in all levels? This is fundamental for establishing a pipeline of leadership and for supporting existing leaders.
Leaders can be cultivated by targeting key leadership skills such as supervision and management strategies. Offer opportunities to practice these skills and then provide coaching follow up. This creates a culture of leadership development that is attractive to other leaders.
People are looking for organizations that are growing and establishing a leadership pipeline is a sign that your company is moving forward.
Do We Provide the Tools Leaders Need?
To be effective, leaders need the right tools. While each company has unique needs, there are some basics that all leaders need.
Resources, such as time and money, for development and training are imperative. Have you set aside funds in the budget? Do you have a training budget (and do your leaders know what it is?) to bring in workshops, send employees to conferences or purchase virtual courses with?
Leadership requires strategic communication. Does your company have effective communication tools for your teams to use? Do you need to invest in an upgrade of technology or training?
Do We Offer Competitive Compensation Packages?
While money is not the
main focus of employment, it is an essential element in attracting and retaining employees. Is your compensation package competitive to other companies in your area? Review your benefits package and look for ways to enhance it. Do you offer flexible scheduling? Work from home options? Do you reward employees for going above and beyond their job descriptions?
Do We Offer Advancement Opportunities?
Leaders are looking for areas where they can continue to grow and advance. Establishing a pipeline of leadership candidates can ensure that you have a steady stream of individuals available to meet the needs of your company.
Leaders attract other leaders. By creating a culture that promotes leadership, it will become attractive to others who have leadership skills.
Michele Bailey is president and CEO of
Blazing Agency and
My Big Idea™. These two lines of business work congruently to support her clients’ success.
Today’s business leaders have recognized the importance of developing top talent. Often, however, it is assumed that “bringing in talent” means hiring new employees.
While it may seem obvious, talent is not a specific person. Talent is
defined as “a special aptitude”. The key to becoming a successful business leader is to identify the talents that you will need, and then find the employees who will meet your needs.
Sometimes, that requires hiring new people. The addition of “fresh blood” to an organization can often be beneficial to rejuvenate the workforce. But when hiring from outside is always the solution, it can cause another set of problems.
Research indicates that it is
more cost-effective to use the talent already in place than to hire, train and develop a new employee. Why aren’t more businesses taking advantage of this built-in talent pool?
Many managers express uncertainty about how to begin looking for talent and are overwhelmed with the idea of implementing a search within the workforce. What can you do to grow talent within your company?
Maximize In-House Training
Developing the talent of your employees can be one of the most effective means of employee retention. This can be implemented through in-house training programs that will help you identify, select and train specific high-potential individuals.
But training programs can work for all and don’t always have to have the goal of finding your next rising stars. They can include topics such as goal-setting, getting your mindset right, developing a successful work/life integration which will allow all your employees to be present and give their best to your company.
Cultivate Mentorship Opportunities
Will your company pair new employees with a seasoned employee? Do you want to mentor highly qualified individuals who may be on a leadership track within your company? With a customized program, you can narrow down your mentorship to cultivate exactly the specific skills your company needs.
Create a Development Program
Establish an individual development program for each employee. What skills do they currently possess? What skills would they like to obtain? What are their future plans? By helping each employee develop a training plan, you can ensure that they are receiving the training they need to accomplish their goals, and they will be more equipped to perform their job.
Encourage Employees to Develop New Skills
Offer new training programs that can help the employees learn new aspects of the job, problem-solving strategies or use new technologies. Encourage your employees to take continuing education courses, attend workshops and other training events as part of their jobs. Bring training programs to your workplace as part of lunch and learns, afternoon seminars and more. Offer courses that may not seem directly related to their jobs but will help them become better employees and ready for the future which keeps changing at a rapid pace.
Provide Opportunities for Advancement
Inform employees of openings in the company. Provide a path to advancement, so the employees know what skills and requirements they must meet to be eligible for promotion. Provide constructive feedback on their achievements and celebrate their successes. When possible and when it makes sense, consider hiring from within the ranks of your current employees.
Consider Promoting Before You Hire New
Sometimes, it is necessary to hire an outside individual. Rather than make that the go-to solution, however, when possible find ways to promote from within. Encourage employees to apply for positions within the company, even if it is in a different department.
Nordstrom did this at their highest level, switching their Nordstrom.com president to head up their bricks and mortar division and vice versa. Cross training can bring a new set of eyes to a department and prevent the silos that tend to develop in larger companies.
Your workforce is full of talented individuals. Allowing your employees to use their talents will not only benefit your company, it will help them become more engaged in their work. Go looking for the hidden talent in your company – you may be surprised at what you discover!
Michele Bailey is president and CEO of
Blazing Agency and
My Big Idea™. These two lines of business work congruently to support her clients’ success.
