Great organizations make small but important improvements in their internal process every year
Five Principles of Attracting & Retaining Talent
1. Know your talent. The leaders of top companies spend as much as 25-30% of their time getting to know their future talent, reviewing their performance, and engaging them in important projects that test and prepare them for increased responsibility.
2. Avoid myopia. There is a natural pride in home grown talent, but it is potentially a blind spot to think your people are ‘best’. Continually test that assertion. Create opportunities to see competitor talent in action. Bring strong talent in from the outside as a way to continually benchmark and challenge your people to step it up.
3. Regularly review and invest in best practice. Great organizations make small but important improvements in their internal process every year.
4. Talk about the importance of your people and their contributions. Its obvious but not often enough practiced. Great leaders consistently remind their people that they know and appreciate the importance of employee effort, ingenuity, and commitment.
5. Teach your executives to be better leaders. So often we forget that leadership is a profession. You wouldn’t seek the advice of a lawyer who wasn’t keeping up with changes in the law, or a doctor that doesn’t regularly attend classes on the newest techniques. Management is no different.