During the last several meetings of the CEO Round Table, we’ve invested a lot of time with leading experts to discuss “Talent Management” issues. Experienced CEO’s understand that building a high performance company centers around the recruiting, retention and performance of talented executives. In building our knowledge and insights into these critical challenges, we’ve improved our recruiting skills, launched goal and performance management initiatives among member companies and learned about the strengths and weaknesses of compensation as a high performance driver.
In my experience, few CEO’s devote the necessary time to Talent Management. They don’t set clear goals and accountability – they haven’t carefully considered their incentive programs and whether they are driving performance or acting counter-productively – and on the front end, they don’t spend much quality time preparing for interviews. Statistically, it’s been found that most candidates spend up to an hour preparing for an interview while most executives spend less than 5 minutes. Have you ever dashed to an interview, grabbing the candidate’s resume as you go so you can glance at it before you get there?
Yes, we’re all busy and on the go, yet most of us realize that it’s the quality of our people that drives much of our success. One CEO that I’ve been working with is struggling to get his arms around all of the critical issues that drive his company’s success. He’s putting out fires, dashing between meetings, fielding emails and phone calls all day but until now, with little idea about the root cause of all of the turbulence.
After we spent some time together, he realized that the gaps in his management team are major contributors to his maddening schedule. His sales manager, controller and GM are all coming up short, in his opinion, and he knows that he may need to make changes there – maybe in all 3 positions. He’s also come to accept that until he deals with those issues in an honest way, it’s going to be difficult to get off the treadmill because so much of his activity is driven by their lack of performance.
2010 Begins Soon!