A question came up recently on a client visit that a lot of executives have been asking lately. When trying to accelerate a new business strategy among all your different teams, how can your teams collaborate better? Executives are focused on expediting their vision with clarity and speed. They need to get their teams aligned and moving forward.
Organizations of all sizes already assess and manage many types of business risk day to day, including legal, operational, financial, and insurance. As a business leader you would never dream of just going with your gut when faced with the legal risks of a big contract, and no board of directors would settle for an executive declaring, “I have a feeling our workers will be safe enough,” or “our production capacity seemed fine so I fired the analysts.” And even though in-house risk managers and vendors (lawyers, insurance brokers) may shoulder the heavy lifting, line executives are expected to have at least a basic understanding of how to address common types of business risk and where to go for help. That is, except for one of the biggest risk areas - no one methodically manages technical talent risk.
Lots of people use the phrase “strategic leadership” very loosely. It gets thrown around in business like people put salt on food. For some, a strategic leader is the visionary, out front identifying the next big idea.
For others, a strategic leader is the architect of the competitive response, or even just the guy with the fanciest document or PowerPoint deck. Invariably, the assumption is that strategic leaders are near the top of the food chain - but what if this line of thinking is all short sighted?
As the economy has continued to heat up, the topics of both employee turnover and contractor turnover have made for many conversations with frustrated clients who are seeking answers. The themes are common. I hear about sexier competitors, bored millennials, too few experienced applicants, trouble finding leaders who can share a compelling vision to instill loyalty, how it seems easier to look outside for a leg up (vs. waiting for a promotion or internal pay raise) and the gig economy which has made nearly every professional role outsourceable. While these laments are all real, as leaders you don’t have to feel like employee turnover is always bad for your organization.
Today in my email inbox I was copied on a status report showing talent risk reduction happening in real-time using knowledge transfer. It inspired me to share with you how this is working on the ground, in just a few quick bullets. This is what we’re all about.
It is the story of a current client, with the knowledge transfer process working exactly as it should:
Yesterday, during the i4cp webinar on Managing Talent Risk, I commented that it is time for competency models to be replaced with more targeted talent risk data that directly drives business (think: money, time, and quality). I have had several questions about my position on this subject so I am rerunning this blog post in case it is helpful. I would love your comments on the topic.
Here’s a quick business story illustrating just why HR competency models are inadequate when used to manage talent and guide change within a job role:
Topics: Outsourcing, Best Practices, Skill Development Plan (SDP), Common KT Misconceptions, Free Resources & Tools, Talent Risk Management, knowledge transfer blog, knowledge transfer, knowledge transfer planning, managing talent risk