Talent Management - January 2009 - (Page 29)

Without a deﬁned process that considers every possible complication, turnover can threaten an organization’s existence. At the heart of this effort is rapid identiﬁcation of what is most critical in the short term, while simultaneously laying the foundation for long-term success. Consider ﬁve agendas to bring structure to this process: • Leadership agenda: Set the tone for leadership and demonstrate organizational savvy. • Business agenda: Deﬁne strategic priorities and outline short- and long-term action plans to accomplish results. • Relationship agenda: Establish positive working relationships with key stakeholders; network and build relationships to ensure long-term success. • Personal agenda: Manage time and priorities and maintain motivation and focus. • Learning agenda: Identify strengths and weaknesses and establish a development plan to build capabilities as needed. To see this process in action, consider Bill, a 20-year employee of a rapidly growing company, who assumes the role of CEO. While the company’s board feels he was the most viable candidate, it knows there are some risks. Bill’s leadership style is collaborative, but the board is concerned he might be perceived as too informal and not “tough enough.” The board also feels Bill can be overly detail-oriented, running the risk of not being strategic enough to facilitate the company’s continued success. The board offers Bill coaching built around the aforementioned ﬁve agendas to help him come up to speed quickly on the demands of the CEO position. This coaching also helps Bill determine what skills he may need to leave behind. Bill and his coach see an immediate challenge on the relationship agenda. The two other employees passed over for the CEO slot have some resentment over the decision and need to be re-engaged to prevent the company from losing their collective talents and experience. Bill and the board are able to convey these individuals’ ongoing value to the organization, and they decide to stay. Weeks and months pass. Bill presents an updated corporate vision during visits to the company’s ﬁve facilities around the globe (leadership agenda), meets with key customers and elected ofﬁcials to establish personal relationships (relationship agenda), works with his coach to adopt a more formal approach and strengthen his leadership style (learning agenda) and adopts a healthier lifestyle and addresses work-life balance (personal agenda). Nine months after Bill’s appointment, the results are in. He has exceeded all ﬁnancial goals, retained the entire leadership team, visited each of the company’s global facilities and raised visibility for himself and his company among community ofﬁcials. The board has great conﬁdence in him as CEO, and employees, investors and the media have applauded an orderly changing of the guard. A Word on Retention No look at successful transition at the top would be complete without addressing the issue of retention. Corporations need to do all they can to keep newly appointed leaders of all stripes on-board at least long enough to recoup investments made in the transition process. Effective strategies here may be surprising. According to Personnel Decisions International research, top performers often consider intangible elements, such as belief in the organization’s mission and stimulating and engaging work, more important than traditional perks such as compensation, bonus structures and pay for performance. Companies must not assume they know what motivates their leaders. They should have individual discussions with these leaders about what work they ﬁnd challenging and stimulating, what work they wish they could do and what experiences they want to have. Companies also should discuss what work-life balance means with each leader. Acting on insights gained through such discussions will boost feelings of loyalty by conveying the value the organization puts on each individual’s career satisfaction and continued commitment to the organization. Stu Crandell is senior vice president and global practice leader of leadership assessment at Personnel Decisions International, a talent management solutions provider. He can be reached at editor@talentmgt.com. January 2009 talent management magazine www.talentmgt.com 29 http://www.talentmgt.com

Table of Contents Feed for the Digital Edition of Talent Management - January 2009

Talent Management - January 2009 Editor’s Letter Contents Human Performance Leading Edge Learning Connections Integrate Web 2.0 Into the On-Boarding Experience Show ’Em the Money: Compensation Trends 2009 Transition at the Top How Hollywood Manages Talent and What You Can Learn Get the Most Bang With Limited Training Bucks Life After Layoffs Attract Specific Talent Groups Performance Management: Its Time Is Now Helping the Helpers Advertisers’ Index Editorial Resources Full Potential

Talent Management - January 2009

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