The Weak Link in Predicting Business Success

Talent decision analytics pay off across every business metric!

weaklinkbusinessclimberBy Sheryl Dawson, CEO Dawson Consulting Group

No function is more disciplined in analyzing data relevant to business success than business development. Their financial, operational and market analyses are comprehensive and rigorous to ensure the best investment decisions for their investors. On the other hand, evaluation of leadership, organization and culture is subjective at best.

While many case studies demonstrate that the health of an organization’s culture and quality of leadership are top predictors of success, measuring those critical factors has been more an art than a science. Korn Ferry’s July, 2016 Briefings includes the article, Why Boards Make Bad Decisions, which emphasizes the importance of having a sound succession plan and the right team in place for ongoing success. Yet, measuring leadership fit and cultural health has been the weak link in predicting success for businesses across industries!
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LeBron James, Team Building and Assessments

LeBron James, Team Building and Assessments

The Business Lesson LeBron James Learned (hopefully)

The 2015 NBA Finals went to six games. The day before the sixth game, when asked if Cleveland would win the game and tie up the series avoiding elimination, LeBron James replied “No. Cleveland will win because I am the best basketball player in the game.”

This was a bold statement, but as my father used to say , “It ain’t bragging if it’s true” and I believe LeBron was not bragging. In game six of the 2015 NBA finals, James again poured out with 32 points, 18 rebounds, and nine assists, but the Golden State Warriors hoisted the Larry O’Brien Trophy after finishing and the Spurs clinched the 2015 Finals in Cleveland.

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Win the Race for the Best Employees

Race for Employees

Are you winning the race for the best employees? Today’s labor market is highly competitive. The skills needed to perform the work are increasing and the qualified applicants to fill the positions are decreasing.

Talented workers are mobile and are changing jobs more frequently than ever before. There is a shortage of qualified workers and yet unemployment remains at unacceptably high levels. Improvements in efficiency and productivity within all industries have reduced the number of employees needed to meet customer demands, yet employers are struggling to find employees ready and able to work for the pay and benefits they can afford to offer.

The people who are talented are already employed and many prospecting employers are actively recruiting them to switch jobs.

You need to not only attract but retain the best employees to win the talent race. Pay, however, is only one factor when trying to attract or retain talent, and not, according to most studies, even the most important consideration.

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Nervous about Filling Your Talent Pipeline?

nervous about filling talent pipelineAre you getting nervous about how to fill your talent pipeline during the next few years? If you said no, you may want to consider the cold hard facts of what we are facing. According to the Pew Research Center, 10,000 baby boomers will reach retirement age every day from now through 2030. In addition, staggering statistics abound; 50% of U.S. government workers are eligible to retire and 55% of registered nurses can be expected to retire between now and 2020.

While unemployment remains high, finding skilled workers to fill open positions is among the top challenges in virtually every organization. As the economy improves, top talent will have more choices and attrition will accelerate. In addition, “X” and “Y” generation leaders will require us to evaluate our approach to career progression/options, work-life balance and global factors. This, along with strategic uncertainty, the impact of social media and data overload, and the increasing velocity of business, indicates mounting people challenges ahead for businesses large and small.

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DESP… Pick the Right Employee

ESPMany organizations use various tools and techniques for identifying their talent pipeline. Some use a “nomination approach,” while others use traditional tools such as a performance and potential matrix, a tool used by managers to identify high-performing individuals who are potential promotion candidates, creating lists of probable candidates.

DESP: A New Approach to Traditional Succession Planning Models

We suggest that a more comprehensive and objective approach with four key components, or “pillars,” will provide the rigor and discipline to produce a solid and fluid pipeline of talent. The “four pillars” are the critical components to be considered with any strategy.

Each has its own set of contributing factors, and collectively they produce a solid foundation for execution. We refer to this as the “DESP” model.

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