Don’t let your top talent be tempted to go elsewhere. Smart leaders keep high performing employees engaged and productive right where they are…at your organization. They are your most valuable asset and should be a major component of your competitive advantage. Do not risk losing your best employees by making the following most common mistakes where top talent is concerned:
Talent Management Mistake #1: Giving managers the sole responsibility for developing high performers
Yes, line managers are the ones who know their team members best and can identify their high potentials. But, no, they are not the ones who typically have the time or the expertise to guide the training or hone the talents of their more promising employees. Get development help from the experts…either senior managers who can act as mentors or specialized performance coaches who know how to enhance strengths and improve weaknesses that matter most for you and your business.
Talent Management Mistake #2: Assuming top talent will continue to succeed in ever more challenging roles
A few will prosper, but many will not. On average, only a small percentage of your current high performers will be able to adapt to and excel in successively more difficult roles. They may be high performers at their current job…in a role they know well and are perfectly suited for. You can’t just promote them and expect they will continue to succeed within a new context with higher expectations, greater visibility and more complexity. They need to develop the specific competencies for their new role and have the consistent support needed to succeed.
Talent Management Mistake #3: Protecting top talent from failure
The best leaders have learned how to deal with failure. They accept it as part of any career, bounce back, and reflect upon how to avoid it next time around. Give your high performers an opportunity to learn and grow from mistakes. This is how they will learn to face difficulties, test hypotheses, and rebound better, faster and cheaper than before. They need to be tested in the real world and prove their ability to grow and adapt. Do not over protect them.
Talent Management Mistake #4: Expecting that high performers are highly engaged
Unfortunately, high performers are not necessarily highly engaged employees. In fact, they often have lower levels of advocacy, discretionary effort and retention. All too often, high performers are at risk for leaving because they don’t feel that their personal goals are well aligned with the goals of the organization or because they don’t feel that their coworkers are as capable as they should be. In fact, according to our latest employee engagement research, almost 30% of high performers intend to leave their current companies within the next twelve months. This should be a huge red flag for any talent leader.
Make sure that you always know what your top talent wants and needs to stay highly engaged. Start by defining a growth path for their future and see that there is reason for them to be confident in the talents and commitments of leadership and their team members. Then ensure that there is a match between their personal agenda and the corporate goals.
Talent Management Mistake #5: Being indiscriminate in compensation plans
Top performers generally work harder and are significantly more effective than the other workers on their team. They rightfully feel they deserve to be fairly compensated for their extra effort and productivity. If you don’t find a way to compensate them above others, they will quickly become discouraged and feel unappreciated. Make sure that your high performers feel as though the rewards they receive are commensurate with their contribution.
The Bottom Line
Winning organizations know that different employees contribute differently to their success. Because of this, smart leaders do what it takes to attract, develop, engage and retain their best talent. Especially for companies that rely on their people to succeed, performance depends on designing and implementing the right talent strategy.
Avon’s success is dependent on strong relationships among our Customers, Representatives, Associates, and outside resources we hire to help us meet our business objectives. We were very pleased with the results from working with LSA Global to design and facilitate a custom program for our events management team. LSA demonstrated responsiveness, flexibility, and an innovative approach to working with us.
Senior Manager, HR Destiny Sales Region
I am very impressed with the quality of work and talent. LSA did a great job of listening to my needs and providing the exact management training program expertise I needed to get the job done.
Director, Business Planning & Analysis
I consistently look to LSA Global when I need custom programs put together for my client groups. I can always count on LSA to do a thorough needs analysis and to put together spectacular programs that are well received. Their management development and performance management expertise and professionalism make them one of my top-rated learning and development partners.
HR Program Manager
Working with LSA Global has proven to be extremely valuable and worthwhile. LSA understands our business, has deep expertise in content areas, and tailors the programs to deliver great results. The facilitator was extremely knowledgeable about Working Globally with India and her energy and passion made the session interesting, fun, and enjoyable for all that attended. The participants walked away extremely pleased along with highly useful practices and tools. I would highly recommend LSA Global to any company that has partners or offices in India.
Human Resources Business Partner
Thank you to LSA Global for their partnership and support in helping us to design and roll-out our valuable management development training program. I personally have partnered with LSA Global at four of my previous companies. It continues to be a delight working with LSA. We look forward to partnering with them at Blackhawk Networks for future training and consulting needs.
VP Human Resources
The Next Generation Management Development courses have helped me communicate more effectively with my peers and teammates. By utilizing effective communication techniques such as clarifying and confirming, and asking open ended questions, I have been able to clarify and understand information in situations where I would have otherwise asked limited questions and made false assumptions.
Firmware Engineering Manager
We signed up with LSA early on–as their 22nd Member! Since then, our organization’s learning needs have increased and decreased and increased again with the changing times. The beauty of the LSA business model is its flexibility…when we needed to supplement our own internal resources, we used LSA services knowing that we could depend on the outstanding quality of the leadership development and management training programs they provide.
LSA is an instrumental training outsourcing partner in helping us to build management capacity and strategically invest in our people. Their flexibility, depth, and breadth of expertise allows us to deliver top quality solutions that are directly tied to key business plans. Their ability to custom design, deliver, and evaluate our Management Curriculum has been excellent. They are true business partners and a pleasure to work with.
Margaret M. Mader
Vice President, Human Resources
The Managing Virtual Teams program was extremely valuable. Your consultant/ facilitator’s fundamental knowledge of Synopsys as a company provided an incredible base to build upon while tackling the complications of managing and working with globally distributed teams. My team walked away walked away with highly useful practices and tools. It was an excellent use of our time.
Vice President, Information Technology
Harmonic has worked with LSA for over 8 years. We have found their partnership extremely beneficial. We recently implemented a Management Development Program that was designed and customized to support our company’s strategic initiative of hiring, building, and retaining key intellectual property and human talent. We worked closely with LSA to target and implement the right solutions with the greatest impact. I would recommend LSA to any company that’s looking for a trusted training and development partner.
Director of Human Resources
LSA helped to meet the needs of my teams within a very narrow timeframe. My team walked away with highly useful management tools and practices. LSA saved us time in delivering the right solution for our specific needs.
Director, Software Engineering, EPG
LSA’s approach and ability to bring the best resources to eBay has been a great asset. They really focus on helping us succeed in any way they can and are very flexible in meeting our management and talent needs.
Learning & Development
PalmSource has found our relationship with LSA extremely beneficial. We worked closely with LSA to customize the right Management Training Program solution to meet our unique business needs. LSA is a quality organization, one that I’d recommend to any company looking for a first class training and consulting partner.
Vice President of Human Resources
For our go to training outsourcing partner, LSA provides exactly what we want. As always, they deliver outstanding work!
Director, Organizational Excellence & Development
I have worked with other training companies and found it to be more of a seller/buyer relationship than one of matching the right expertise to our business issues. That’s what LSA does – ask the hard questions, listen, and understand our business needs. We receive the benefit of their expertise from assistance with personal development plans to enhancing team performance, to looking at enterprise-wide challenges. It’s all about helping our business succeed as we grow. Right now, LSA is providing great ideas, a fresh approach, and valuable guidance as we develop our management team and accelerate our client relationship management results.
Director, Team Development
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