As companies are expected to be increasingly people-centric, the war for key talent will increase significantly. This war will require a new approach to seeking out and developing the talent of employees. It is critical though not to see this as just a Human Resources function. It is key to the very core of your organization.
Here is an excerpt from an interesting article about the importance of talent development in business:
“However, the key component of ability is learnability or the capacity to learn new things – it is a function of IQ and curiosity. Likability is mainly about emotional intelligence and people-skills, and these are pivotal to success no matter what field you are in. Finally, drive is the dispositional level of ambition – a person’s general desire to compete and the ability to remain dissatisfied with one’s achievements.”
Here are some things you as CEO should consider when managing talent development:
- Having talented stars isn’t enough. These superstars need to translate their skills into value for the overall organization. Not just for their own department.
- Broaden your understanding of ‘team.’ For example, your ‘team’ will include your customers to a larger degree.
- You will need more multi-functional stars. These people can connect their colleagues into the overall functioning of your company. There is a divide between those that think of overall systems and those who can only understand their own specific departments. This divide will become larger. And the latter will be left behind due to technology.
- Narrow and deep talent is not enough. Every superstar will need a high level of overall curiosity, emotional intelligence and self-motivation. Every industry is fighting to get those unique people who understand the specifics of products and services, as well as people. Consider how technology will enable and require everyone in a company to become more customer-centric. You will quickly see that your talent pool will need realignment. And how important it is to start developing that talent now.
- Your company will need new leaders. Every company will need a new type of multi-functional leader. This isn’t just the CEO. And you will need to install these new leaders now. They will be instrumental in identifying and developing your Talent 2.0 team.
Your company will fail or succeed based on the strength of your people. And how well they are led. Isn’t it ironic that the new age of technological disruption will call for more people skills than before?