Here at The Talent Magnet Institute, we throw around these terms everyday, however, many leaders have not considered deeply how much their talent affects their organization’s bottom line. But it does, big time.
Your business might be making some product that goes on a shelf, or you may provide a service that helps people and organizations be better. However, as a Leader in your organization your business is people. Period.
People drive everything about your business. Also called “talent,” the people who work inside your business hold the key to your sales, your customer experiences, and how well your business runs overall. Most leaders understand this from a bird’s eye view, but many do not understand how to OPTIMIZE their talent for global success of a company.
This is what we mean when we ask “Are you a talent magnet?”
Leaders from all over the world ask often, “how do we achieve our next chapter of success?”
In supporting family business, private company, private equity portfolio companies and holding companies, we have seen it all:
How Do You Achieve YOUR Next Chapter Of Success?
Making your talent a priority and creating a workplace that is engaged and diverse is not just a fad. Companies who adopt this goal know that it is good for business when the people who work for you “get” the big picture and are bought in.
Trust, communication, and engagement are great concepts, however trying to put them into practice can be a challenge. If not done right, it can collapse everything, so many leaders decide to shelf the idea. With that denial, they forgo greater profitability and business success.
WE BELIEVE THAT TALENT MANAGEMENT DOESN’T HAVE TO CREATE HEADACHES. IT CAN HEAL THEM.
These keys will give you an excellent start at building a strategy for talent success. If you want more implementation tools, click here for our Leader’s Essential Checklist For Optimizing Talent and Maximizing Profits.
Keys To Becoming A Talent Magnet
Every leader would love to be the example of a well-run organization. It’s one of the most satisfying parts of the job. Just like product roadmapping, marketing, and strategic planning, talent management needs a strategy-beyond benefits, pay, and compliance.
Take an active assessment of what must change. You have to break through the concern that, “it could never change – it is what it is.” Stop sitting in the passenger seat or only looking through a rear view mirror. Be intentional about your communication, and take active control. People are watching you – personally and professionally. Set an example of how to lead versus what to avoid.
Because we are so closely tied to our work, we can’t always be objective about it.
You NEED an outside, objective voice to help you evaluate your culture, as well as give you guidance on how to change it to make it what you really want it to be.
The leaders who don’t do this, honestly, don’t want to know, which is a huge FAIL in leadership. Don’t be that kind of leader.
Another way to get insight into your culture is to come out of the office and connect with everyone in your organization. This is your job even though it’s not listed as one of your responsibilities.
Great leaders understand the value of every person in their organization as well as the value of connection. Spend time with your team. We have found that the more an internal team feels valued, appreciated, invested in and engaged, the greater the direct benefit to external customers, the bottom line and the community in which you operate.
How do we know when culture is in the right position? It shows up in an organization’s key performance indicators, critical success factors and strategic plan. It is talked about proactively and is the reason why people join, stay and tell their most talented friends about their workplace.
Becoming a Talent Magnet also means that you have an employee brand that is positively supported by those who have left your organization. Whether they left for another opportunity, were managed out of the organization or retired from your organization, they should speak positively of the time spent working with and for you. Alumni can be your greatest brand ambassadors–or greatest detractors. How they felt, were nurtured by and communicated to, during their time with your organization will determine whether they attract or detract talent to your organization.
Did you know that more than 40% of leaders fail in the first 18 months of their new role because most often they do not have the opportunity to acclimate successfully to the new organization.
Onboarding isn’t just about showing people where their desk is and getting them a badge. It is an ongoing process to help new hires understand
Give yourself an immediate “employment brand boost” by communicating well. You should have a clear road map to onboard. This road map will include a plan for
By investing properly in a new hire’s onboarding experience you are increasing their odds of being wildly successful in your environment, and you will maximize their ability to gain trust, build relationships and create results.
Consider onboarding insurance on your investment. Your onboarding strategy should be built strategically and in place prior to talent ever interacting with your organization.
Ask your talent what they want out of their employment. You will be surprised at what people actually want versus what you assume they want.
Listen to what they have to say. Ask for honest feedback from your entire workforce and really hear what they say. They probably have some great ideas, especially those who work directly with your customers. Listen with an open mind.
Be in Learning Mode. A really good leader is always open to learn. Take time to learn from other people on your team, outside your business from trusted advisors, and reading. Learn about tactical strategy, and most importantly, be open to learning about yourself constantly.
An executive coach told me recently that the most effective leaders are those who come to a meeting asking questions.
I also recently had an experience where I sat next to someone in a client meeting, who we happened to place in his position. I asked him how he has enjoyed his employment with our client. His response, “This is the safest and most productive culture I have ever been in. I can focus on doing my best work. I know my boss and his boss both have my back. I have never worked for a company quite like this.” I sat there– emotionally choked up.
This is what being a talent magnet is all about.