I recently spent some time with a client working on the concept of linking talent (meaning employees’ skills) to value (meaning money). Specifically, the value they bring to the team. Versus the traditional approach of linking value to the high-level jobs while ignoring the development needs of lower levels or leaving those to chance. Managing, developing and promoting talent is a common leadership blindspot that many companies face.
My proposal looks like this:
Individual Talent + Development = Value $$$
It’s a pretty common blind spot that many leaders have. Talent and its development is not always directly linked to value.
I’m sure you can name a few managers you’ve known who delivered little to the company but were making a pretty penny more than some of your more talented, harder-working colleagues lower on the organizational chart.
Much like a college professor who is tenured but barely teaches the students anything, there are top executives at many companies who do little more than rest on their laurels of yesteryear. In the meantime, the real go-getters are toiling away, hoping that those less interested in bringing value move out of the way before they lose patience.
The disparity happens when only those at the top of the organizational chart are charged with the most critical tasks and forthcoming initiatives. These are the folks who participate in the high-level meetings, executive courses and conferences, leaving the talented employees underneath them to excel somehow on their own.
If you feel like you’re seeing this kind of world unfolding in your workplace, here are a couple of suggestions to clarify the situation, and some ideas of what you can do to get a better talent-to-value formula up-and-running:
- Define and understand value – This is mostly a numbers game, but not entirely. What positions are the most valuable to the company and who are the most valuable people? Executive boards also have blind spots. They tend to look at those only at the top of the organizational chart when defining value.
- Match people to their best roles – When you see a busy, high potential talented gal leave your company to take a job elsewhere, chances are it’s because you were not challenging her enough, not utilizing her full potential, not creating a plan for her evolution within the company or some combination of the three.
- Blow up the organizational chart – I walk into so many businesses who provide me with an organizational chart and, when I ask why it’s set up the way it is, the answer is almost always, “Well, it’s always been this way.” Does your organizational chart make sense? Are people grouped correctly? Is there a way to change things up that brings talent closer to top decision-making positions?
- Continue to evolve – Identifying existing valuable talent and creating a system whereby they are contributing at top levels and are rewarded accordingly is not a one-and-done. How are these people going to grow with your company? What changes will need to be made and how will talent continue to be evaluated? It’s important that your best employees know you’ll continue to try and reward their talent and appreciate their value.
Avoid the blindspots and losing valuable talent by evaluating the professional development aspects of your business.
If you need a process and advisor who can help you and your team recognize leadership blindspots, let’s talk. You don’t want to lose great talent. Contact us to schedule a complimentary consultation at http://maricarmenpizarro.com/contact-mari-carmen/
