Why Talent Management Skills Are Essential to Your Business’s Success
People are at the heart of every successful business. Good leadership is a known predictor of success, but a company that truly moves forward has more than that. Once the surface is scratched, a leading business also has an enthusiastic, skilled team supporting it. Businesses must learn to attract and retain the best employees in the market in order to thrive.
In his book Top Grading, Brad Smart distinguishes between A players, B players, and C players. He estimates that A players produce up to eight to ten times more than those at the B level. Failing to recognize this serves as a detriment to the many organizations that risk losing those coveted A players.
Businesses should strive to attract as many A players as possible, rewarding and recognizing those team members regularly. In order to do so, businesses may be required to pay a little more for their positions. But it will also allow an organization to stock its team with a smaller group of A players, rather than a large group of B and C players who bring very little value to the organization.
Don’t Make Snap Decisions
The process of hiring someone new can be so time-consuming and tedious, it’s natural for managers to want to speed through it. But with such an important decision, it’s important that leaders take the time to find the right person. The hiring process should be thorough and involved, with multiple team members weighing in on the decision. At the end of it, managers should be certain they’ve found the right person.
Businesses must also be unafraid to dismiss someone if performance levels are low. Set expectations high from the outset and hold employees to it. If they fail to deliver, leaders should use a professional performance management system to improve, discipline, and eventually terminate the employee if necessary.
With the right hiring practices, businesses can achieve their goals and enjoy a positive work environment. By shooting for A players, companies will find they’re no longer wasting time on inefficient employees.