In our last article, Succession Planning – Why it matters to you, we discussed the business necessity of ensuring you have the right talent, at the right time, and in the right places. And, we outlined the steps in good succession planning, whether for your executive talent or for your key critical contributors.
This article discusses the 9-Box (or 9-Block) assessment tool, an important tool for assessing who’s on your bench. Continue reading
Succession planning is critical to the success of your business. Whether you’re running a large company or small, for profit or not-for-profit, at some time you’ll be glad you invested some time each year thinking about this. Don’t let it give you a headache, it’s not that difficult. Continue reading
In an earlier article I talked about the business case for talent management. In this article, I want to explore “performance management” as ONE critical element of an effective overall talent management process.
We all perform better when we have help setting direction and a coach holding up a mirror to let us see where we are and suggesting what we might try differently. These two simple elements are the keys to effective performance management: set expectations and provide feedback. CEOs get this from a good board of directors; most of us can remember benefiting from a good manager giving them to us; and solo entrepreneurs frequently flounder when they do without. Continue reading
Most managers I know hate doing performance reviews. I regularly hear, “This is the worst part of the year. I hate doing these.” And I hear many employees saying something very similar, “I hate this time of year. We all get the same rating so what does it matter?”
So why do it? Because companies that learn to do this well, that apply it in connection with an integrated overall strategy of talent management tied to strategic business planning, see better financial returns. The results impact the bottom line meaningfully. Continue reading
Over the next several articles, I want to explore some issues around effective and proactive talent management. My goal is to share some of the back-story to why great companies spend energy and focus here and how the several components knit together.
All organizations can do this and do it well. Excellence here is NOT limited to fortune 500 firms. Smaller companies adapt and apply the concepts of effective and proactive talent management to drive success. Continue reading
“Dad, I just don’t get what you’re saying.”
Having a daughter who’s willing to pull your chain when you’re not making sense is an interesting phenomenon. My chain gets pulled regularly. The most recent tug came in an email the other night after my post about making compensation make sense.
“OK, Dad, I read your last blog post and I don’t get what you’re saying. It sounds like you’re saying that using the “market value” is separate and distinct from having pay grades, ranges, bands etc. I think of a company using the market value to set the pay grades, ranges, etc. You seem to be saying the two concepts are mutually exclusive, and I think I’m seeing them as one in the same.”
Got me! No, they are not at all mutually exclusive. Most companies Continue reading
Pay is such a headache. Why won’t employees simply work for what you’re willing to offer? Why all the drama? Most of the challenge comes from making this subject too complicated: grades, ranges, bands, midpoints, Compa-ratios (what?!?)…
Our HR friends just make this far more complex than it needs to be. Continue reading