While the demand for experienced leaders is high, companies find it challenging to manage talent strategically. The three key areas to ensure success are discussed in Talent Scorecard – How to ensure your company is managing talent strategically: • Align business and talent strategies • Look ahead, not behind • Track the talent profile

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TALENT
SCORECARD
How to ensure your company is managing talent strategically
ompanies worldwide Align business and talent
C
Track the talent profile"
are struggling to find strategies" Every aspect of Talent metrics should be
and retain the caliber the talent strategy should established, tracked and
of leaders their businesses link directly to the business acted upon as part of the
need. The increased market strategy and its execution. business portfolio. They
intensity and demand for Anything not directly should garner the same
top-shelf, experienced leaders linked is probably working attention as other bottom-line
arrive at a time when our against the core strategy metrics. Talent metrics are
population of potential leaders by consuming time and not second-class measures -
is declining. Stagnant hiring resources and confusing they are a vital part of your
in the early 1980s has resulted managers about what is business portfolio and the
in fewer experienced leaders most important. Once the best indicator of your future
available. On top of that, U.S. business plan is formulated, capacity to execute.
census data indicates that the the first question to ask is, Ignoring or ascribing
population of potential leaders "Are the current people second-class status to
is shrinking. processes ready to hire, talent metrics is a good
In short, we have a develop and manage leaders way to be caught off-guard
challenging to support this business in midstream. Decision-
business plan for the next three to makers should have a "talent
environment five years?" Make sure that scorecard" to monitor the
and fewer the competencies for which quality of available talent
experienced you are hiring match the and track gaps in key talent
leaders to skills that leaders will need pools. These data can be
navigate it. to execute the business used to adjust hiring and
These plan. Ensure that leadership development practices
challenges development is based upon and to drive individual
represent values that support where accountability for enabling
opportunities to the company is headed. the business strategy.
fundamentally No matter how brilliant the
change and Look ahead, not behind" strategy, it takes people to
measurably Develop tomorrow's leaders execute it. It is too easy to be
improve for tomorrow's challenges. captivated by plans to secure
how talent is Talent management additional market share or
managed. We should be based on tap new markets but fail to
must treat talent where the company is ask, "Do we have the people
management going, not where it has to get the job done?" and
as a business been. Most performance "What will it take to ensure
imperative management effort is we have the talent we need?"
and bring it to oriented toward evaluating Require each business in
the strategic past performance. While the enterprise to provide a
planning table- understanding how a person talent strategy commensurate
where it belongs. has just performed against with the operating plan for
Whether starting new current expectations is executing their business
companies or preparing the important, it is equally strategy. Without an
leaders oftomorrow, the important to ensure that equivalent talent plan, the
most successful companies leaders are assessed against business strategy becomes a
hire great talent, make sure the future demands of the false promise. Do not approve
that talent is aligned with business - three to five business plans that fail to
the company's strategy and years down the road - not address finding, developing
culture, develop that talent just the challenges being and managing talent to
aggressively and reward that faced today. execute the strategy. «
talent well, in alignment with
their desired culture and
LESLIE W. BRAKSICK, Ph.D., is co-founder of CLG Inc. (www.clg.com) and author of "Preparing
future strategy.
CEOs for Success: What I Wish I Knew" and "Unlock Behavior, Unleash Profits." Braksick consults
To manage talent
with top executives and their boards on issues of executive leadership succession and effectiveness
strategically, organizations
and strategy execution, including merger integration. Reach her at Ibraksick@clg.com.
must do three things:
6 Smart Business Pittsburgh I February 2011
an eg