How the Best Managers Recognize and Foster Talent
Those that make excellent managers tend to be well-versed in their industries, have a track record of success, and like the opportunity to lead. However, they must also cultivate another talent management ability to be great leaders.
Successful team management requires identifying and developing talent before others (both internally and externally), helping people reach their full potential, and locating the best person for each position and the ideal job. So, in a nutshell, successful managers are also terrific talent agents.
Although it may look simple, becoming a successful talent agent may be challenging. It calls on us leaders to be less dogmatic and abandon some tried-and-true but antiquated personnel selection methods. Unfortunately, most of us continue to hunt for qualified individuals in the exact (incorrect) locations, or we accept the conventional wisdom that the "best hire" is the "greatest cultural fit." These methods impede the pursuit of variety (demographic and cognitive) and, in the end, stifle innovation and creativity.
Though there may not be an "optimal" method of talent acquisition, we can do better than our previous methods of finding and selecting candidates have allowed. My colleagues and I have thoroughly examined what makes a skilled and inept boss, and we've come up with seven science-based recommendations to assist you in modernizing your recruiting practices and honing your personnel management abilities.
1. Plan.
Strangely, interviewers frequently probe candidates about their long-term career goals and objectives, while managers seldom reflect on their five-year talent strategies. While most executives are clear on the talents they need now, much less examine whether or not the prospective employee's background is compatible with the company's long-term goals. If you have clarity of where you want to go, your efforts should be directed at locating an employee with the knowledge, skills, and talents necessary to get you there. Avoid assuming that the people you have now will remain constant. You have to think about the big picture while still getting things done.
2. Assume the proper characteristics.
Managers commonly err in two ways when assessing employees' abilities: (1) placing too much weight on a candidate's credentials, hard skills, and technical ability; and (2) placing too much weight on their prior performance (even when they lack solid measurements). Within 15 years, the World Economic Forum projects that 65 percent of current occupations will be obsolete. Thus, policymakers should not put too much stock in the education status quo, which focuses on getting students ready for careers that already exist rather than those that may be created in the future. We may not know what those occupations will be, but it's evident that those with specific "soft skills"—such as emotional intelligence, motivation, and adaptability—would have an easier time getting them. These characteristics form the basis for learning new things. These rudimentary skill features will likely become much more valued as AI develops.
3. If you don't have to be outside, don't.
Too frequently, businesses go outside for help when they may find what they need within. In addition, there is an inconsistency between the salaries of internal employees and new hires, although the former are often paid more. As a result, it pays to explore within before casting a wider net for qualified candidates. The ability to comprehend the culture and handle the politics of the business is a significant factor in why internal recruits have a greater rate of adaption and success than their external counterparts. Furthermore, they are more likely to be dedicated to their employer. In addition, when promotions come from inside, morale among the rest of the staff rises.
4. Be open-minded.
Most managers tend to recruit those that remind them of themselves. This habit hurts diversity and slows down the productivity of the team. The likelihood of forming groups with complementary skill sets, those with distinct and even opposing characteristics, decreases when we recruit people who are just like us. One can only think inclusively about talent by welcoming those different from themselves and their colleagues. But we believe you should go beyond that and applaud those who question the status quo. If you recruit individuals who will keep doing things the same way, you'll be stifling the engine that drives progress: change. It's common knowledge that businesses with a more diversified pool of potential employees do better financially.
5. Follow the evidence.
Everyone, even management, makes terrible choices. Even though this is an essential factor in the prevalence of prejudice in the employment process, few people are willing to admit it. Studies have shown that managers prefer exaggerating a candidate's performance reviews than confessing they made a bad hire. Those of us holding positions of authority need to be very introspective and skeptical about the results we get from making confident choices. For example, when appointing a new employee, it's vital to establish performance targets that can be quickly evaluated to compare your assessment of their work with that of others. Similarly, before nominating someone as a high-potential employee, you should arm yourself with valuable facts and evidence to guarantee that your judgment is fair and rational, even if time shows you incorrect. Finding new and improved methods for making mistakes is more important than getting it right when spotting talent.
6. Consider alternative viewpoints rather than one single idea.
We live in a society that frequently celebrates independence and independence from others. However, practically everything of lasting worth has been the outcome of a group effort, resulting in people from diverse walks of life combining their skills to create something more significant than the sum of its parts. To this end, it's essential to consider not just the individuals in your talent pipeline but also the makeup of your team as a whole, asking questions like whether or not they'll get along, whether or not they'll complement one another, and whether or not their functional and psychological roles match those of the team. All the members of a strong team serve a distinct purpose, much like the organs in the human body. This makes each member unique while making the whole greater than the sum of its parts. Talent scouts know that team success requires members to put the group before themselves.
Exceptional managers and talent agents have an uncanny knack for seeing potential in others who may not otherwise. Therefore, it is vital to encourage professional development in all your staff members. You must make every effort to assist a worker who is having difficulty, regardless of how difficult their situation may be. The function of the manager, in short, is becoming that of a coach. This requires developing the skills necessary to give constructive criticism, such as the fortitude to have tough conversations and take action in the face of subpar results. To keep ahead of the demand and ensure your current employees continue to be an asset for the foreseeable future, you must anticipate their future needs for talent. Our study finds that nearly half of all employers have trouble finding the skills they need, suggesting that their talent planning methods are insufficient.
To sum up, knowing your material regarding human resources is crucial for success as a manager. Fortunately, decades of study in industrial-organizational psychology and management have resulted in a robust science of talent management. However, this scientific knowledge is meaningless if its practical applications are not understood. And remembering the potential and skills of your staff members at all times is the most crucial component of this procedure. It's unlikely that any other variable will be as important when trying to assemble a high-performing team.
About Jim Woods:
Jim has a passion for accelerating talent across organizations. While this passion has fueled his work in leadership assessment and development, it has crystallized in the area of Diversity, Equity & Inclusion.
Jim's experience spans many industries, including public, finance, consumer, retail, pharma, industrials, and technology. 'Organizational & people agility,' 'design thinking,' and 'digital transformation' are some critical themes Jim works with clients on across the globe.
His consulting experience includes assessing, training, coaching, and developing leaders. In addition, he has delivered work in defining competencies and success profiles, designing and conducting assessment centers, integrating talent analytics, and designing and facilitating development roadmaps.
Jim is a certified coach and facilitator for Woods Kovalova Group's virtual leadership assessment and development tools, including leadership accelerators and WKG Potential. Jim holds an MS degree in organizational development and human resources. He served as an adjunct professor at Villanova University; taught fifth-grade math and science.