Why talent can be expensive in an organization?
Every company talks about attracting the best and the brightest. If there is a problem in an organization, the first comment is generally about hiring more capable and talented employees. Some companies do hire talented employees and others find the talents within. No matter whether you grow your pool of talent organically or inorganically through a hiring process, there is for sure one element that separates mediocre companies and and those great companies. That one element can make the difference between how talent is looked at within a company and the value that talent brings to the company. That one element is, " Principal Leadership ".
At its core, "Principal Leadership" is the leadership at the top. If it is a private company, that is typically the owner, and in a more professionally run company, such as those that are publicly listed, it is the board of management. If the leadership's talent is high, then recognizing and cultivating talents is an easy job. However, when the leadership lacks sight to identify talents, then not only a talent is not recognized but also talents that become available to the company are easily lost as their value is not recognized and appreciated.
In my consulting practice, I have also observed that sometimes, talents are hired but the talents are not trusted, engaged, empowered to use their talents and skills at the highest level. This typically happens in companies where the owner is still micro-managing every aspect of the business and because of his or her unwillingness to let go of control, the owners find themselves working longer and longer hours as well as over staffing themselves with many followers rather than talented leaders. In situations, like these, the owners understandably, cannot justify paying a high compensation to those with great talent as they are not capable of utilizing those talents available to them at their highest potential. This is like buying and expensive asset such as car and not using it often and leaving it parked all the time. Anything that is not utilized properly can seem as an expensive asset and sometimes even a burden.
Talented people are rare to find but it takes a talented person to know how to recognize cultivate, motivate, empower and reward them well. If you are over-worked, stressed, easily irritated it is time to hire a mentor for helping you recognize the talents that you may already have around you and how to put them in good use.
Dr. Allen Nazeri is the CEO and Founder of Consulting & Advisory group. He has coached and mentored CEO's of both private and public companies in leadership, management and operational efficiency. He maybe contacted at Drallenci@gmail.com