talent management strategy

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Invest in your teamfor Growth.Invest in your teamfor Growth.

How to

do you really only invest in the best?

Re-sampled by Slide Comet

how much do you invest in

each individual

on your team?

$

two types of assetsthere are

time money

Money includes:

compensation, promotion, benefits, etc

Time includes:

coaching, mentorship, training, etc

of course, as with everything in business, investment assets are

always finite.

Example:

if you have 10 members on your team, $100,000 in comp, and 30 hours per week to support them, how will

you invest?

how much of your total time and money assets do you invest in your

top talent?

what about your weaker members?

what aboutEveryone Else?

What is Fair?

what gets you and the firm the highest return on those

investments?

remember, it is a fixed pie that you have to work with. so you need to

make hard choices

starsrest

first off, let’s divide your workforce into

categories.

A Typical Organization

Stars Potentials Work Horses

UnderAchievers

and, since people fall roughly into standard

deviations...

it’s a good bet that your team will distribute roughly as follows*...

Stars Potentials Work Horses

UnderAchievers

1 3 5 1

*assuming a team of 10

And their output/contribution will look something like this

Stars Potentials Work Horses

UnderAchievers

1 3 5 140% 30% 20% 10%

so how much do you spend on everyone?

Stars Potentials Work Horses

UnderAchievers

1/40%

50% 30% 20% 0%5 / 20%3 / 30% 1 / 10%

* nothing on your underachievers (ouch)

so how much time do you spend on everyone?

Stars Potentials Work Horses

UnderAchievers

1/40%

10% 50% 20% 20%5 / 20%3 / 30% 1 / 10%

so here is the logic..

Comp your Stars extremely well, and then get out of the way so that they can achieve. They just needs goals and

air cover

Stars

Time Money

Comp your Potentials above average, but invest a much greater relative percentage of your time to give them all the

support they need to become stars. This group has the highest return on time.

Potentials

Time Money

Comp your Work Horses fairly and spend some time helping them understand and achieve their goals. But let them know that while it is OK to "just get the job done," if they stretch themselves towards the Potential category, you'll respond

with greater investments.

Work Horses

Time Money

Do not comp your under achievers. Instead, spend a disproporationate amount of time to help them retrain and/or move out of the function

where they are under performing and into another function where they can become a star.

Time Money

Under Achievers

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