Losing Resources in 09? You can still develop TALENT
Doing more with less is not going to help you meet your goals this year. It's time to do more with more.
In the past when confronting tough economic times, companies talked about doing more with less. Downsizing, smart-sizing, right-sizing—whatever the term, was about producing more and better results with fewer people.
In our recent research, the bulk of our survey respondents indicated that due to the weak economy and baby boomers choosing later retirement, they did not have a talent shortage in their organizations. What I am seeing is that certainly organizations may not have the resource shortages that we all expected, but there most definitely is a shortage of talent capable of the creativity, innovation and performance that companies need now more than ever.
We know that reducing the workforce while raising expectations is downright dangerous to a company. But, in the past six months, we've seen companies amend their old approaches by layering in one more key component that changes the equation: reduce the workforce, yes, but increase the capacity of those left before raising expectations.
In a nutshell, transform your resources into talent with a deliberate application of opportunity, positioning, coaching, and feedback. Done successfully, you'll grow both performance and engagement.
Begin by:
Calling out to every manager, in every department, that no employee can remain disengaged, and therefore, performing below standards. This is the new standard—the 80/20 rule can no longer exist.
Using assignments, not just making them, as performance multipliers. Be intentional about who gets what opportunity so that more people are stretched, and provided the support and coaching they need, to take more moderate risks.
Rewarding efforts and outcomes, so that everyone can see what created individual and organizational success.
How are you doing more with more in this challenging environment? We want to hear from you in the comments.
That's an interesting position that "resources" and "talent" are not necessarily synonymous. It seems as if we are all using them interchangeably, yet we know all employees don't perform at the same level.
Posted by
Tim Sieck
03/03/09
The point Mike makes about job assignments is spot on. The job assignment continues to be the most valuable (and often overlooked) tool in a manager's portfolio. What's more, the job assignment is a developmental access point that has very little cost to the organization. This alone makes it indispensable in this down economy.
Posted by
Mike Hyter
03/03/09
Job assignments that are intended to position someone for growth, being challenged. Growth, stretch assignments create the basis for 'real' developmental progress vs. just giving someone something to do. When it's included with a manager who is supportive, it's the best way to build confidence in the person as well, which creates more thirst for learning and so on....
Posted by
Tim Vigue
03/10/09
The facinating thing about this very straightforward idea is how easy it is to get started. As mentioned above, it doesn't take a huge financial investment, and I would argue it doesnt take a huge time investment either. The good news is its self reinforcing so once you take that first step to intentionally position someone "out of the loop" for development, it gets easier to do with the next person and so on. Time to get the momentum going.
Posted by
Steve Mackey
05/08/09
What we're seeing in our business are more companies rather than cutting "cost centers" are pruning the dead weight throughout the organization. They realize this downturn will not last forever and they need to be strategic in cutting cost while remaining competitive tomorrow. This also means once identified as "top performer" in their area, staff are being challenged to step up. There's GREAT opportunity for those top performers to becoming tomorrow's leaders. As Mike suggests, we have to face the challenge and nurture the best and not just focus on today's crisis.
