As the negotiations related to the fiscal cliff take place, numerous companies are reviewing their current strategic plans and exploring a wide variety of contingencies in order to be well prepared for every possibility. One challenge from my vantage point as I listen and participate in these in-depth strategic dialogues is whether or not these same companies have the internal talent to execute each strategy or contingency plan they are exploring.
Over the decades of doing this work, I have learned that strategies and contingency plans will come and go. Market share and profits will rise and fall. At times this will happen due to factors beyond our control. But an organization that has a self-renewing team of first-rate leaders will always be prepared for whatever challenges come their way.
However, according to a 2008 study by McKinsey & Company, 59% of senior managers fail to spend enough high-quality time on talent management. As the authors of the report state, “Companies like to promote the idea that employees are the biggest source of competitive advantage, yet the astonishing reality is that most of them are as unprepared for the challenge of finding, motivating and retaining capable workers as they were a decade ago.” As I see it, many companies are eager to be well positioned on the other side of the fiscal cliff, but may not have the intellectual capital to generate sustainable results.
Russ Banham in his article “Human Capital: Achieving Alignment - How to get your people behind your business objectives” in the November/December 2012 issue of the Chief Executive magazine, writes, “Ensuring that human capital is aligned with business goals - and vice versa - has become critical of late, given the recession’s axe-wielding impact on labor.” With numerous companies worried that they might lose top talent, the challenge is to develop high-performance staff before, during and after the strategy development and implementation process.
Furthermore, with the talent pipeline being squeezed by retiring Boomers and new entrants who may not have all the required skills to meet the coming challenges, this process of talent development and then talent management may not be very easy. One key to solving this problem is to create a culture at the management level which is built on a foundation of constant learning, particularly given the need to stay productive as we move through another period of turbulence and potential chaos. However, we have to accept the fact that 59% of senior managers do not have the time, and I believe, the energy, to focus on talent management.
One unique solution to this problem is to enroll your key people in the 2013 From Vision to Action Leadership Training. Here they will learn important information about leadership, strategic planning and execution, and organizational change. With new perspectives, understanding, and capacity to execute in these vital areas, senior leadership will have a renewed pipeline of high quality talent, all who will be ready, willing and able to meet the challenges of the coming three years.
Friday, December 7, is the registration deadline for the 2013 From Vision to Action Leadership Training. If you and/or members of your team want more information about this unique training opportunity, then please click on the following link: http://www.chartyourpath.com/VTA-Leadership-Training.html
If you and/or members of your team want to register for the 2013 From Vision to Action Leadership Training, then please click on the following link: http://www.chartyourpath.com/pdf/2013-From-Vision-To-Action-Leadership-Training-Regist.pdf.
With the future being so uncertain, now is the time to get prepared. The From Vision to Action Leadership Training is a good place to start.