Talent management in recessionary times
Here are some areas that historically businesses could have applied change to: innovation in technology, enhanced marketing practices to penetrate deeper into markets and to open new ones, and re-engineered process design. These are all well and good to direct investment into, but I would be likely to say that the human element would have been neglected and if that is the case, the investment returns are precariously balanced in the long term. Using the construction of a house as a diagrammatic illustration of my point, I consider the roof to represent the security from bad weather, the walls to represent the disciplines of marketing, innovation, finance, quality control, operations (as a few), the plinth to represent the pool of human capital within an organisation, and the steel reinforced foundations to be the vision, values and the concomitant strategies of the leadership of the organisation.
In the current economic maelstrom the roof has been blown off and the security that organisations enjoyed historically has flown the coop. The loss of this security threatens the stability, integrity and solidity of market share, threatens funding to innovate and will continue to create instability in many disciplines within companies. The security that came from the roof above, now has to be replaced with a security from below, that is, from the human capital. This wealth and body of skills, knowledge, experience and capacity to be creative in tough times has to be the area of keenly applied interest and investment that leaders must allocate to so that they may see light of day.
Again, I ask a question of the scenario: “Who is the human capital (the talent) that primarily needs to be optimised?” Your executive leadership base right now is your edge, complemented by the middle management tiers, and ultimately reinforced by the skills of the workforce and their disposition to creatively apply those skills to higher performance levels.
The retention of talent, sharing of knowledge, diversification of skills and risk mitigation of the migration of human capital will ultimately be the tangible outcomes arising through well applied talent management. In order that talent management is applied effectively the defining, refining and redeployment of the talent pool needs to be undertaken at every level in the organisation – from executive level, to divisional level, to departmental level…..all the while, this defining, refining, and redeployment being overseen by leaders at each level who themselves are being groomed for the future that is already upon us. This grooming process encompasses all the communication aspects that management is exposed to, but in order for this process to be effective, these to-and-fro communications up and down the channels and across them have to meet at a point called “connection”.
With connection, all aspects of communication sink deeply into individuals and teams and their ability to perform at distinctly higher levels because they become equipped with understanding. The way in which we at Polarity Consulting see this connectivity being achieved is via the profiling and determination of environmental constants and variables that we offer our clients during the talent management process, and guiding them through changes. The objective is to remove incumbent disconnectivity and institute the connectivity that makes teams dynamic and successful.
This connectivity unlocks creative potential to bring forth solution minded behavior and a freedom of expression of ideas that frees up senior leadership to take care of the strategic concerns of the organisation.
We think differently. We develop people.
Article written by Craig Mitchelmore