A significant challenge most growth companies face in trying to get out of No Man’s Land is upgrading the talent in the organization to propel such key drivers as product/service innovation and process improvement.  In an escalating way, customers are demanding more from their suppliers; technological advances are presenting opportunities to you, and your competitors, to perform tasks more efficiently and effectively. To the frustration of many entrepreneurs, it sometimes seems that people with the necessary skills and experience just aren’t available in the market place—at least not at a price you can afford.

Talent Must be a Focus

Developing talent has to be a strategic focus. It requires continual attention from the senior management team.  I believe that by making career development a priority and actively demonstrating its importance, management can create a more rewarding workplace for employees.  They will work harder and smarter and be better able to see how their development contributes to meeting the strategic goals of the enterprise.

The process of developing talent should begin at the strategic planning stage.  It is extremely important to define, as precisely as possible, what human resources will be necessary to execute the strategy.  As important as is the number of individuals needed (and whether the function is outsourced or kept inside the organization), you must define the knowledge, skills and experiences to be possessed by the key individuals who will be executing the strategy.    That result will need to be compared to the inventory of knowledge, skills and experiences existing in the organization in order to determine what is lacking.

Management will need to determine if the organization has the ability to develop the missing levels of knowledge, skills and experience. If not, it will have to “buy” what is missing, either through outsourcing (including part-time or “leased” employees) or by recruiting talent outside the organization.  The requisite steps will need to be outlined in the strategic plan. They have their ramifications in cost and timing and these must be carefully considered.

Easy to Say, Hard to Do

What I’ve outlined so far is easy to put into words but is difficult to execute.  It is necessary to define, as completely as possible, the specific knowledge, skills and experience that are necessary in each key position in the organization.  To the extent possible, each factor should be “measurable”—whether quantifiably nor not.  

An inventory will need to be conducted (and periodically updated) of the knowledge, skills and experiences existing among the management and key employee group.    It may be necessary to interview employees to gather this information to create a baseline.  Consider using the same questions, as appropriate, used in interviewing outside talent.

After documenting the inventory, a “gap” analysis should be done to determine what is missing--followed by an analysis of what steps will be necessary to deal with the “gap.”  For example, what continuing education programs may be necessary (and at what cost)? Will requirements for new hires need to be redefined to bring in a different caliber of talent?  What type of internal development plan is necessary to build missing experience levels?

Talent development i.e Management is one of the 4 Ms of the No Man’s Land framework and part of the No Man’s Land Diagnostic. It is a key ingredient for propelling a growth company forward. It doesn’t happen by accident. Every entrepreneurial CEO must ensure that their people have the skills to compete and win in an ever more challenging marketplace.

image credit: New Foundation