The Importance of Unlocking Talent
Business leaders often refer to their people as ‘their greatest asset’, but yet we see many organisations not taking the time to invest in their employees. That investment needn’t be costly either, it could just be some quality time with their line manager to gain feedback or guidance, or access to training to enhance their capability.
Research shows that people now rate the “opportunity to learn” as among their top reasons for taking a job.¹ Business leaders know that changes in technology, longevity, work practices and business models have created a tremendous demand for continuous, lifelong development.
Whilst some businesses are taking steps to deliver learning opportunities to their people, it is evident this is still quite a challenge for the majority of businesses as learning development was cited as the top-rated challenge amongst HR and business professionals in the Deloitte’s 2019’s Global Human Capital Trends survey.
“Our top-rated trend for 2019 is the need to improving learning and development. 86% of respondents in our global survey rated this issue as important or very important, with only 10% of respondents, feeling ‘very ready’ to address it”
So why is this such a challenge? Especially when you consider that re-training can cost one-sixth of the cost of hiring an external candiate².
The biggest challenge is identifying the needs for each employee. It is a skill to be able to evaluate direct reports and identify what support, guidance or capability development they need to enhance their performance. That is why we support many of our clients in developing line managers to have effective conversations with their teams. Providing skills to line managers in turn makes a positive impact on their direct reports and drives both individual and collective excellence. A move towards team-based leadership usually requires coaching new leadership styles. Team members need to know how and when to relinquish control and, in so doing, to show respect for the differing perspectives and approaches of those who work for them. This helps keep all levels within the team motivated.
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