IMPROVE THE SELECTION PROCESS WITH AN EFFECTIVE ASSESSMENT

Finding and retaining top talent is always going to be a priority for organizations that want to stay competitive. There are a variety of assessment tools available for recruiters and HR departments to make the process easier, more streamlined and more efficient. Still, as with any tool, each will have its positive aspects and potential drawbacks. In order to be sure that the goals of the hiring process are being met, it is imperative for companies to have a strategy regarding assessments before selecting tools and methods.

Whether it is for selection of external talent, development of internal talent or for use in succession planning, organizations need to take an integrated approach to assessment and must be able to answer the question: Why and how are we going to leverage assessments to attract, develop, and retain talent that drives strategic business outcomes?

WHY TALENT ASSESSMENT METHODS MATTER

The business expense allocated to cost of employees tends to be the largest overhead expense in every company or large organization while also providing one of the best competitive advantages. Optimizing strategies for hiring and retaining top talent is crucial as the process should lead to an overall improvement of employee performance by finding the best matches for individuals and positions while reducing the total cost to acquire and keep top talent on board.

The assessment process must also align with and help shape support the current culture of the company. Whether the organization is experiencing a culture transformation overhaul or has already achieved a productive and successful culture, recruiting the best candidates who are the right match for the company is critical to building lasting relationships with top talent, so they stay with the organization.   This is a core element of becoming an employer of choice which delivers engaging employment experience for your current and future employees.

Simplifying the hiring process is another important function of talent assessment, as a long selection process can create extra work for the recruiting team while also reducing the likelihood of capturing candidates who are in high demand. As a result, the remaining pool of candidates is likely to be of average or weak potential as 57 percent of job seekers lose interest in a job if the process takes too long. A slow hiring process can also damage your company’s image as an employer as candidates become frustrated by lengthy, complicated processes and share their experiences online with other job-seekers and may deter top talent from applying at all.

START WITH AN ASSESSMENT STRATEGY

Before deciding on a specific assessment tool figuring out how to assess potential candidates, every organization should have a definitive plan to ensure that goals are reached, and this strategy must be agreed upon by key stakeholders and leaders in the company. For each opening, the specifics of the job — tasks, duties, core competencies, behaviors, skills and traits — must be spelled out so it’s clear to hiring staff and candidates what is required for the position. Next, the circumstances around the hire need to be determined. What is the available budget for the assessment process? How quickly does the position need to be filled? How many applicants are expected? Will internal assessment tools be used, or will tools be purchased from an outside vendor?  How will the assessment be integrated with other talent management practices and tools?  Will the assessment be used for both selection and development?  How will you get managers to understand the link of the assessment process to talent acquisition and talent development efficacy?

Then it’s time to determine how candidates will be assessed, starting with core competencies and skills. This area will vary based on the position being filled and how critical particular skills are, but in most cases, focusing on the most critical competencies that must be present upon starting should be the main goal. Not all skills and abilities are easy to measure, and others can be learned by the right candidate on the job. It can be helpful to build a success profile that details the critical skills and attributes that are most important to success in the position, along with an understanding of how the position may change over the next several years to ensure that the long-term goals of the company are being addressed.

Determining which tools to employ during the process should also be part of the strategy. Tools should be reliable enough to show the true competencies or deficiencies of a candidate while taking into consideration differences that are due to other circumstances such as errors, anxiety, administration methods, and conditions in testing areas such as noise or temperature. Tools should also have high validity, or have a strong relationship between the performance on the assessment and how that will translate to on-the-job performance.

It is also critical to understand how candidates will react to the assessment process. We have already covered how top talent and candidates in demand tend to drop out of lengthy processes, but even those with reasonable time frames can also be a deterrent when used ineffectively. Organizations should be aware that the assessment process is also a time for candidates to gather information on the company, and they want to feel like the process is fair, and that they’ve had sufficient opportunities to show their competencies. For these reasons, it’s usually best to put technology to work early in the process to work through large volumes of applicants quickly and efficiently to screen out those that are missing required skills, experience and education and to bring those likely to be top performers to the head of the line. That way, time and labor-intensive processes can be used when there are fewer candidates to evaluate.

ASSESSMENTS FOR DEVELOPMENT

Although assessments are mainly associated with the selection process, they are becoming increasingly useful for employee development to ensure that skills gaps are identified and then closed. Such assessments can be particularly helpful for organizations that make significant investments in training and development to both fine-tune training programs and to make sure the right people are getting the training they need rather than deploying training department or company-wide.

Periodically assessing employees is one way to measure their ongoing collection of skills and abilities and to provide feedback as they develop their careers. It’s clear how these assessments benefit the organization, but they can also help individuals reach their personal goals as they strive for positions with increasing difficulty and responsibility. By comparing the current skills and abilities of an individual with what is required for the next step up the ladder, it can be easier to take specific steps to acquire the necessary knowledge for the next promotion.

ENSURING AN EFFECTIVE ASSESSMENT PROCESS

To get the best results from any assessment process, especially those that are technology-heavy, it is important for applicants to have a realistic understanding of the process, the reasons behind different selection tools, and why different skills and competencies are important to the position. Candidates should feel like they’ve been given ample opportunities for asking questions and giving feedback. Ultimately, every individual should be treated with consideration and sensitivity during the process and all hiring decisions should be communicated promptly to be respectful of the applicants and to protect the organization’s reputation as an employer.

Contact us to learn more or to get started.

HOW TALENT STRATEGY IMPACTS BUSINESS PERFORMANCE IN THE CURRENT MARKET

Whether recovering from an economic downturn, reopening after a pandemic, or managing through any type of crisis, waiting too long to discuss the future and planning your talent needs will impact the sustainability of the business and retention of valuable contributors. The key question business leaders need to be asking is, do we plan for short-term recovery or for long-term, change-resilient sustainability?

Organizations that want to stay competitive in today’s market need to take an integrated approach when developing their people (talent) strategy, including alignment with the overall business strategy. Companies must find that dynamic place where business strategy and human strategy meet. This includes developing a sustainable pipeline of talent and effectively managing this talent. This growth mindset will drive innovation, employee retention and achievement of business outcomes.

However, there are some obstacles that need to be overcome. Both the workplace and the workforce are changing. There is a new mix of employees, including Generation Z, rapidly rising millennials, Generation X taking over the C-suite, career swappers, gig workers and people re-entering the workforce. Each is emotionally and intellectually ready for a new way of working and all have different needs or expectations. This new workforce operates under a new employment contract. They no longer want to just “come to work.” They want to be part of something – purpose-based work that is mutually beneficial for their company and aligns with their personal values. 

There are a number of talent processes that organizations can leverage to build an integrated talent strategy. Here are a few of the most common.

·   Workforce Planning (based on the organization structure and business objectives): This core process helps identify skills gaps. It should include critical role identification based on business needs, talent forecasting, critical talent assessment and staffing model planning.

·   Capability and Competency Management: This establishes a foundation for all elements of talent management including creating job profiles that align core competencies, expected behaviors, desired experiences and important skills for key positions in the organization.

·   Talent Acquisition: This includes sourcing candidate pools, assessment, building and communicating the employer brand, recruiting, selection, onboarding and developing a process for talent mobility.

·   Leadership Development: The organization must identify and develop skills gaps in their leaders and then leverage development programs, coaching and other practical experiences.

·   Career Management: Continuous development of the professional staff and emerging talent is key to building a sustainable and diverse pipeline of talent. This area is often lacking resources and is undervalued but is key to helping supply the pipeline of future leaders.

·   Performance Management: This begins with goal alignment and clarity around expectations of performance. Leaders then need to coach and support the growth and development of their teams to maximize efficiency and performance results.

·   Succession Management: This includes identification and development of key talent for critical roles in the organization. The output is a succession plan that should address both the senior and middle levels in the organization.

·   Total Rewards: Rewards must align with the overall approach to talent management. It is critical the correct behaviors and performance are rewarded.

All of these elements must connect with each other. This is where integration comes into play.  If they are out of alignment, it will cause stress in the organization and confusion for both leaders and employees of the company. The result is people simply “checking the box” when they complete required steps versus truly valuing the practice for what it brings to both self and the organization.

5 STEPS ORGANIZATIONS CAN TAKE TO CREATE AN INTEGRATED TALENT STRATEGY

1. Define a Talent Management Philosophy. It is important to acknowledge the challenges faced by the organization from a talent perspective, how these align with the overall business strategy and what needs to be done to address these challenges.

2. Identify the Critical Talent Management Processes. Talent strategy includes succession planning, performance management, onboarding and retention, talent development and coaching, diversity and inclusion, leading change and workforce planning, and many other elements. The key is to identify which are the most important to the success of the business.

3. Incorporate a Talent Management System. Technology simplifies processes and exposes the organization to valuable data to assist decision-makers. There are various talent management systems available in the market. Some are offered as part of the larger enterprise resource planning platform and some are boutique independent systems.

4. Activate Talent Review Committees. Talent management must be the accountability of the organization, not human resources. The goal for these committees is governance and leadership. They should focus on talent management progress and overall success of the organization, while also identifying potential risk and mitigation strategies.

5. Dynamic Scorecard of Talent Metrics. Identify a balanced outlook for leading and lagging indicators. Start by identifying talent metrics that link to business outcomes and retention of key talent. Be sure to integrate diversity and equity factors into your talent metrics.

The journey to a “game-changing” talent strategy is rife with complexity and ambiguity. How can strategy and culture connect? How can the strategy be global and local at the same time? How can leaders be more agile and constantly open to shaping direction of the organization? Too many organizations end up making zero-sum decisions when faced with such challenges.

The important thing is to start. If you want to talk through how to take the first steps, contact us.

Beyond the Skills Checklist: Selecting the Right Talent

Every team is only as good as its players, so it only makes sense for organizations to reach for the cream of the crop when recruiting new members. On the other hand, many hiring managers may not understand just how much of an impact a few superstars can have especially when comparing productivity in the workplace. According to one report, high performers are up to 400 percent more productive than average performers. In other words, one superstar can be as productive as up to four average teammates. That’s enough of a difference to make finding these bright spots a high priority during the hiring process but we all know it’s not as easy to accomplish as it sounds.

High-Performers are Rare

In a perfect world, you would fill your ranks entirely with superstars and your organization would be well on its way to ruling the world. Of course, there are not enough A+ players to fill every vacancy, and there’s usually no need to, either. Top performers make the biggest impact in medium and high complexity positions, and they are unlikely to be satisfied with low-complexity positions that do not offer enough long-term challenges. Plus, B players are often reliable, talented, supportive individuals who also have an important role to fill in any organization and may find it easier to adapt to different cultures, environments, and sets of challenges. Still, acquiring skilled, quality talent remains one of the top recruiting challenges, and the struggle to avoid filling key positions with lackluster talent is drawing the time to fill a position to several weeks or more. Organizations that are serious about winning the competition for these superstars need to find an advantage, and there are several areas on which to focus.

Change Starts from Within

Before you can start sorting through applications and interviewing candidates, it’s critical to first identify what it is you are looking for. This may seem obvious, but too often the definition of good is limited to educational background, work experience, a handful of skills and compelling references. The trouble with this approach is that candidates can (and probably should) stack these in their favor. From puffed-up resume lines to a carefully refined list of supporters willing to provide an excellent reference, the standard list of good traits will, at best, provide you with a small pool of people who meet your basic requirements. However, are any of them the perfect fit for the pivotal roles in your company? How can hiring managers tell the difference between two candidates who tick all the boxes on paper?

No matter how driven, qualified, experienced, and brightly shining any candidate is, if he or she doesn’t find your company culture to be a good fit for their career and personal needs, that person will never be a star in your organization. The right candidate may be short a few skills or missing experience in a technical area, but time and training can take care of such deficiencies. Finding candidates whose energy, personal strengths and career goals align with your company’s objectives and workplace culture is far more important, as those characteristics tend to be inherent in the individual rather than acquired by experience.

For companies that already have a solid culture foundation, one that is defined, understood, accepted, and championed by the entire team there is a distinct advantage when competing for top talent as you’ll already have deep insight into some less-tangible qualities that you should be looking for in your top players. For organizations that do not have this foundation, that becomes the starting point. In the short term, look to your current roster and identify peak performers to create a profile: which qualities, characteristics, and strengths make them stand out from the crowd while also remaining perfectly matched for their position and your company? Then, set a long-term goal to tackle the project of defining your company’s culture.

How to Identify Top Talent

The first step is to develop a success profile that captures not only the skills and experience desired for a candidate and what the expectations of the position are, but also the contextual elements that will help identify candidates that will be a good fit rather than just qualified for the job. These contextual elements, the less-tangible and more personality-based factors are often the defining features of people who will make a good fit for your team. According to a report from the Harvard Business Review, a variety of personality types are required to make the team strong so there is no one right answer. Instead, organizations must identify and define what is necessary for the role, then find the person who meets that description. Beyond technical competencies, success profiles should include the following:

• Behaviors. What observable behaviors are required for success in the role? These actions and activities should result in effective performance and contain important competencies necessary for success in the role.
• Experiences. Which jobs, roles and situations should an individual have engaged in throughout their career? Look for specific accomplishments from the individual and don’t limit the scope to only things learned on the job.
• Traits. What are some tendencies that will influence the behavior and actions of the individual? This should essentially answer the question, Who are you? Some of these traits may include things like being results-oriented, relationship-focused, pragmatic, risk-tolerant (or averse), rule-following (or disruptive). Again, there is no right or wrong answer: it’s about what’s needed to fill the role.
• Motivators. Which values, purposes and aspirations will shape the career and life choices of the candidate? The common interview question of where a candidate sees themselves in 10 years scratches at the surface of this fundamental element of a good fit. Understanding the driving factors behind these aspirations will help you see if the goals of the individual align with those of the organization.

Hiring for Purpose

A baseline set of skills and experiences will always be an important component of the talent selection process as most organizations need candidates who can hit the ground running once hired. However, hiring managers must look beyond these lists and look for an alignment of goals, motivators and characteristics to find a shared purpose. Seek to find alignment behind your organization’s “why” and the candidates. In fact, one survey found that 89 percent of executives said a sense of collective purpose drives employee satisfaction. In other words, once the baseline competencies have been identified in a pool of candidates, look for the one who has just as much to gain in satisfaction as you do in productivity.

Want to Attract and Retain Top Talent? Agile Leaders are Key.

Attracting and retaining top industry talent is both a priority and a challenge for businesses that strive for sustainable performance results. To be competitive, companies must position themselves as an employer of choice, a destination where best in the industry will not only contribute their skills, but also continue learning and growing lest they seek greener pastures elsewhere. How can employers cultivate the type of workplace that will attract top talent and keep them around for the long run?Agile leaders are the key.

What Top Talent is Looking For

Talented people want more than a competitive salary and robust benefits; they want a place where they can feel good about their contributions to the company. They want challenges, an opportunity for growth, and to work in an environment that is positive and supportive. They desire a company with purpose. In their annual Pulse of Talent report, Ceridian partners with Nielsen to find out what roadblocks are preventing top talent from being acquired and what’s driving them to leave a company once hired. One of the most telling facts to come from the 2017 report is that nearly 40 percent of high performers are actively job hunting. Whether that’s good for your company (you’re hiring) or not so good (your talent is trying to leave) is up to you to evaluate.

From the 2018 report, among the top five reasons given for leaving a current employer are a lack of interesting work, no opportunities for growth and poor relationships with managers. Thirty-nine percent of respondents said they were looking for a new position because they wanted to tackle new challenges; 32 percent reported changing jobs was necessary to advance their career. Salary is another top motivator, but one that’s easily resolved by employers committed to retaining the best in their industry.

Finding purpose played a major role in whether talented individuals chose to remain with their current employer or move on to another. Of those who said their company practices their stated values, 90 percent said they were satisfied with their current position. For those who said their companies did not practice stated values, only half were happy with their jobs. More telling is the fact that half of those surveyed could say they felt their work impacted business goals. Of those who could answer in the affirmative, 92 percent were satisfied with their job.

Once salary requirements are out of the way, the biggest roadblock to attracting and retaining top industry talent boils down to the culture of the workplace, and those who influence the culture the most are those in leadership positions.

How Agile Leaders Solve the Problem

Agility is defined as having the ability to move, think and understand quickly and easily, qualities that would be assets in just about any situation. Applied to leadership positions, agility describes those who develop healthy relationships, demonstrate an instinctive ability to coach others and bring a deep sense of integrity to a company. In other words, they hit all the points that talented individuals are looking for when selecting a position and deciding whether to stay there for the long run.

Let’s start with integrity, one of the most important qualities of an agile leader. Integrity demands that leaders operate with a commitment to a consistent ethical resolve, that office politics aren’t running the show and that responsibility for mistakes will be taken. For that 90 percent of employees surveyed above who were happy with their jobs and said their companies practiced what they preached, integrity is the core value that drives one to behave in accordance with his or her beliefs.

Next, there’s an instinct for coaching others, and with that, the innate desire to empower others while removing obstructions to their success. The ultimate goal for agile leaders is to advance others, not themselves, as agile leaders are keenly aware of the reflection upon themselves when their teams have a chance to shine. For those 39 percent of employees who want to change jobs in search of new challenges, their tenure at the company can be rescued by an agile leader who knows how to keep their teammates continuously learning, growing and advancing to new positions within the organization.

Then there’s relationship building, another core quality of agile leaders. Skilled relationship builders have the ability to influence their teams and not just lead but inspire others to follow. Agile leaders are naturally encouraging and compelling; they are a confidence catalyst for the hesitant and the uncertain. They are not in competition with their peers and subordinates; instead, they are driven to bring the entire organization to success together and motivate others to find joy in the accomplishments of their teammates. In short, agile leaders cultivate loyalty.

An Environment of Dedication

Leaders who demonstrate agility in their roles are adept at meeting business goals in their everyday tasks. But, more importantly, they create a workplace environment where people feel challenged and supported, where they are inspired to learn new things and share that knowledge with others. They cultivate satisfaction among individuals and demonstrate how to share in the achievements of the team. Agile leaders are the key to creating an environment where the best of the best not only stay on board but join in the quest for excellence for the entire organization.

Learn more about the qualities to look for and develop in your leadership team members by downloading our free white paper, The Six Qualities of Agile Leaders.

How to Build a Sustainable Talent Pipeline

Being prepared to fill vacancies in top leadership positions is a critical priority for the future success of any organization, as retirement and executives who leave to pursue other opportunities are inevitable. A sustainable talent pipeline is one that is ready to produce candidates for open positions quickly, as top talent is continually being identified and prepared to take the next steps. Rather than scrambling to accommodate last-minute notice or even having a few weeks for a planned departure, successful organizations are focusing on succession planning by creating a talent pipeline that starts with middle management and continues through to the executive level.

The Capacity for Leadership

The purpose of succession planning is to eliminate the irreplaceable. In the event of a surprise resignation, organizations that are unprepared can suffer from a domino effect caused by the immediate need to fill a high-level leadership position, and the cascading gaps down the succession line as individuals are shifted up. Companies should also not be rushing to create a succession plan on the fly or relying on a single promising individual to fill any positions, as the future is always filled with the unexpected.

Along with future considerations, a company that is focused on employee growth and development is more competitive in terms of recruitment and retention. By creating a workplace that attracts top industry talent and investing in ways to keep that talent around for the long run, organizations will expand their overall capacity for leadership and possess an engaged workforce that feels valuable to the business and is committed to its long-term success.

Building a Sustainable Pipeline

The first step in building a sustainable talent pipeline is to identify the key roles in your organization and define what success looks like in each of these roles. This list should extend well beyond the executive suites and include all levels of management in the company. Including as much detail as possible is important to both identify individuals within the organization that meet the criteria already and to develop promising talent with the right skill sets to achieve readiness. It will also help identify areas of crossover from one position to another so high potential people can be prepared with a range of competencies.

Once you know what you are working toward, the following steps should be taken to build a strong pipeline:

• Aligning Organization Expectations. Succession planning should be part of the broader business plan and focus on the company’s current and future needs. When the succession process is aligned with the long-term needs of the business, then it will be flexible and robust enough to withstand the changing nature of today’s business climate.
• Performance Calibration. Employees need consistency in terms of evaluating their individual progress and in understanding the expectations for roles of increasing responsibility. Performance calibration has the goal of improving the fairness of performance reviews by defining a standard set of criteria with which to measure employees to achieve greater satisfaction among the ranks with compensation scales, promotions, and succession decisions. The calibration process should also standardize the definition of high performance, so managers can optimally justify ratings and identify high potential candidates for development plans.
• Talent Reviews. This process should be distinct from individual performance reviews and engage a specific model for defining and recognizing high potential individuals who may be ready to join the succession pipeline. Those identified should have a record of high performance across many challenges, and this performance should go beyond technical competencies. Talent reviews should seek those who are resilient, agile, and ambitious, along with being a good personal fit for the company’s mission, not just it’s goals.
• Experiential Development. The only way to ensure that a talent pipeline is sustainable for the long term is to incorporate development into the process, and leadership development must be present for all management positions, not just the c-suite. Once high potential individuals are identified, action plans should be created to boost their skills and experience in preparation for positions of higher responsibility. Plus, as people are moved into middle management positions that are on track for higher placement, they should also be equipped with the skills they need to support their teams and to develop the newest team members to keep the pipeline full. Experiential learning is vital here, as classrooms and seminars have low retention rates while a hands-on method not only has better information retention, but also helps individuals build skill sets faster, more accurately and with greater engagement.
• Measure Impact. The best succession plans are continuously monitored and improved to ensure that goals are being met. The ability to quantify the results of succession planning will not only ensure better results but will also provide the justification for budget managers to continue devoting company resources to the talent pipeline. Each organization will have its own metrics that are based on specific goals. However, factors such as tenure, readiness and engagement can help to gauge abstract concepts, and concrete numbers such as production rates and revenue can give financial perspective. A big-picture look is necessary to see how the pipeline is functioning overall, but a detailed examination of an individual’s progress or a team’s progression can also be a source of demonstrating the impact of development actions and how the activities have driven success rates overall.

The Rewards of Preparation

Succession planning and the development of a talent pipeline have clear implications for unavoidable circumstances such as retirement and resignation. What’s more, when employees are given development opportunities with clear paths for promotion within the company, the company will also benefit from a more engaged, productive, and profitable workforce. In other words, in preparing for the future, companies will yield visible gains every step of the way.

If your organization doesn’t currently have a sustainable talent pipeline, or if you’re unsure whether your current process is strong enough to safeguard your company through an everchanging business landscape, we’re here to help. Contact Michael Grubich at 262-786-9200 or via email at mgrubich@lak-group.com, if you have questions or to schedule a consultation.

Integrated Talent Reviews: How to Achieve High Results for the Company & Employees

Establishing a strong, effective, and scalable leadership pipeline is complicated, but organizations that achieve this are better able to stay steady in a rapidly changing economy. According to one survey, more than half of the respondents said their company uses a succession management process for only the most senior executive positions. What’s more, only 12 percent said these programs were integrated with other talent management initiatives such as performance management and employee development. 

If the cliché that employees are a company’s greatest asset is true, then talent review and succession planning must be considered critical activities for any organization. Senior-level executives use these sessions as a high-level analysis of both business and employee performance with the focus being on the growth of the organization and current or future positions that individuals within the company may be ready to fill.

Sounds simple, but companies that get this process right not only have a strategic advantage over their competitors, but also have employees who are more engaged and productive.

Improving the Effectiveness of Talent Reviews

While individual performance reviews should inform the talent review process, every company needs to have a specific model for defining and recognizing potential that is distinct from performance. For example, high-potential individuals should have a record of high performance across many different challenges rather than just high levels of competency in some areas as you’re looking for people who are smart, resilient, and ambitious along with technically competent. 

Key identifiers of an individual’s overall fit should be defined as well. An individual’s personality and capability should match the company’s unique requirements and goals. Ability matters, but when the person is also a good fit for the company, a higher degree of satisfaction and commitment is often achieved which leads to better retention rates overall.

Employee reviews are an activity that should be done frequently so the person feels continuously informed on his or her growth. Talent Reviews and succession planning do not necessarily need to happen as often or as consistently. In many cases, an annual process is sufficient, as long as the action plans developed from such meetings are regularly reviewed to make sure progress is being made.

Performance Calibration is Key

Taking steps to ensure that managers are consistent and fair when evaluating performance is critical. If the objective is to differentiate high performers and high potential individuals from those who are average or poor, then the process of assessing and rating employees must be calibrated so your organization is using accurate data during talent reviews and succession planning activities.

Performance calibration also helps to standardize the definition of high performance for the entire management team. By creating a set of common guidelines and language with which to evaluate employees, managers will be better able to justify their ratings as well as identify development plans for the future. 

Calibration also helps improve the overall fairness of the process. Employees should feel as if they have been evaluated using a standard set of criteria, so they are more satisfied with compensation scales, promotions, and succession decisions. When employees feel they are being treated fairly, greater satisfaction and retention can be achieved, and complex legal challenges stemming from potentially inequitable decisions can be avoided.

The Importance of Aligning Succession & Development

Ideally, an integrated succession management process that includes leadership development and emerging talent development would be present for all management positions–not just executives. Succession management should also be aligned with the business strategy and in line with talent management goals and activities.

When viewed from this broader perspective, it becomes clear that aligning development with succession planning is the only way to proceed. Once high potential individuals are identified, action plans can be put in place to be sure the employee improves his or her skills and experience in order to be ready to fill future positions as well as remain aligned with the future plans for the company.

Measuring the Impact

Being able to quantify the results of talent development and succession planning is more than just being able to recognize improvements or results. These activities use important company resources and therefore a measurable ROI is necessary.

Choose which metrics mean the most to your organization. Factors such as tenure, readiness for promotion, and employee engagement levels can help quantify more abstract ideas, and production rates and revenue will put dollar values in perspective. A big-picture evaluation is often necessary, but it can also be helpful to take a micro view and evaluate the impact that development activities for an individual manager or that manager’s group have had for the company overall in terms of production or revenue.

Leveraging Outside Facilitation

It is human nature to make connections with the people we work with and organizational politics are an inevitable part of every company, even those that work hard to achieve neutral environments. Internal human resources departments may struggle to overcome some of these factors; bringing in a neutral third-party facilitator can have clear benefits.

For example, a neutral facilitator isn’t going to be worried about challenging the ideas of senior leadership if it will benefit the long-term outcome of the company while managers may back down from such confrontations. Others may have difficulty maintaining calibration standards or may lean toward including people on a succession list even if that person does not honestly have the potential to advance in the company. 

A fresh, data-informed approach from a third party will ensure that your high standards are being met, that decisions are being made based on achieving business goals, and that the right individuals are selected for development opportunities and succession plans.

Finding Success with Better Talent Reviews

Integrating talent management systems such as performance, assessment, development, and succession planning is what leads to the greatest success in achieving high-impact talent management. The significance is clear for employees who have higher job satisfaction and upward mobility, and for the organization that can meet or exceed its goals through increased retention and productivity.

If you have any questions surrounding talent reviews, or you would like to review your current process to ensure your company and employees are best positioned for success, please contact Michael Grubich at 262-786-9200 or via email at mgrubich@lak-group.com.