6 Ways to Use Talent as a Corporate Differentiator

Man in a Business suit picks Talent as a Corporate Differentiator

Does Your Talent Differentiate Your Business?
High growth companies use talent as a corporate differentiator.  In fact, talent accounts for 29% of the difference between high and low performing companies.

A Surprise About Talent
While talent management certainly plays a major role in attracting, developing, engaging and retaining top talent, our recent organizational alignment research found there is an optimum combination of business strategy, corporate culture and talent to maximize performance.

When strategy, culture and talent are aligned, companies significantly outperform their peers in terms of revenue, profits, customer satisfaction, leadership effectiveness and employee engagement.

The surprise…peak performance does not necessarily start with having the best talent.  So how do you use talent as a corporate differentiator?

Start with the Business Strategy
Before investing in sweeping talent initiatives, start by making sure that your business strategy is perceived to be clear, believable and implementable by those who need to execute it.  If people do not have confidence in the strategic direction or if their goals and accountabilities are unclear, your talent investments will be diluted and you will not be able to use talent as a corporate differentiator.

Strategies Must Go Through People and Culture
Once your strategy is clear enough to act, your next step is shape and align your high performance culture for your specific strategy.  You will know you are on the right path when your corporate culture is understood and consistently leveraged to get desired results.

Hiring top talent into a toxic or unaligned corporate culture is a recipe for conflict, disengagement and attrition.

Talent as a Corporate Differentiator
Once your business strategy is clear and your organizational culture is aligned, it is time to attract, develop, engage and retain talent that fits your unique situation. We define talent as the workforce that leaders build and manage to create a unique advantage their competitors cannot replicate. One good indicator of success on the talent side of the equation is observing that people who are a good cultural fit are most likely to be high performers.

Six Ways to Use Talent as a Corporate Differentiator
If you want to build top talent at your company so  it becomes a differentiator that boosts you well ahead of your competition, make sure that you put the right talent in the right positions at the right time.  Also make sure that you wisely invest in key players in the key positions that matter most.

Here is what you need to make it happen:

1.  Get The Full Support and Commitment of the Executive Team
Leadership should set the tone, provide the resources (time, money and support) and hold line managers, not Human Resources, accountable for selecting, engaging, developing and retaining the talent that will get the job done in the way it needs to be done.

While HR can certainly play an important role, line managers have a profound impact on your ability to attract, engage and retain talent.  Great leaders attract talent.  Great leaders develop talent.  And great leaders create an environment that allows people to perform at their peak.

If leaders do not consistently value and reward people as their most important resource, it is difficult to have the required talent practices in place to recognize and retain top talent.

2.  Create a Talent Planning and Recruitment Strategy that Aligns with Your Culture and Your Strategy
Know your true culture well enough so you can use your corporate values, practices and behaviors to bolster your selection process. Do not be fooled into hiring for your aspirational culture. Make sure your employee brand reflects the day-to-day realities and attracts the talent you want…the talent that fits in with your culture and is likely to stay for the long haul.

For example, a recent high growth client’s culture has been described as aggressive, fast moving, direct, confrontational, sink-or-swim, and results-oriented.  If new employees survive the first year, they tend to stay for the long haul – which is good.  But the first year attrition rate is 37% and increasing – which is bad.

The true culture is not accurately described on the company website or fully revealed in the current interview process.  A more authentic interviewing and screening process that uncovers cultural fit could save the firm both time and money as they struggle with finding adequate resources to support their 40% year-over-year growth.

3.  Be Specific about Your Expectations and Hold Employees to the Standards
To achieve high performance, you need to create and stand behind performance goals that are clear, accurate, transparent, fair, achievable and relevant. Not only do you need to consistently recognize high performers, but you must also ensure that low, non-improving performers move on so high performers stay engaged and motivated without lowering the performance bar.

Employees need to understand how their job performance is measured and believe that performance evaluations are fair and appropriate.

4.  Provide Meaningful Development
Keep employees at their performance peak with targeted learning and development opportunities that enhance the most important skills required to increase performance. For the best results, make sure that the desired performance improvements and targeted skills matter to three levels of stakeholders:

  1. The individual
  2. Their boss
  3. The business

We call this 3×3 Relevance.  Without it, your chances for behavior change and performance improvement are slim.

Employees want to know that leaders are willing to make investments to make them more successful.  They want their job to provide the chance to learn and grow.  Do you provide enough opportunities for employees to learn new skills that will help them to succeed?

5.  Measure, Review and Recognize Performance Often
Quality coaching and frequent feedback practices will encourage the behaviors you seek. As a manager, be accessible, open and straightforward as you interact with your employees. Make sure employees know where they stand and provide the unwavering support they need to succeed.

Goals and accountabilities should be clear to everyone on the team and people should feel confident that, if they contribute to the organizations success, that they will be recognized.

6.  Share the Mission, Vision and Importance of People with All Employees
Talent kept in the dark or underappreciated will fade. Keep the core purpose of the company in front of everyone so they can believe in what you want to accomplish as a company. You want your people to feel a part of the team and be confident that leaders of the organization are setting the right course.

Then, let people know how they fit into the company’s future plans.  To increase employee engagement, have a clear and explicit talent strategy that shows how the leaders of the organization are committed to making it a great place to work.

The Bottom Line
How you hire, develop and retain talent matters.  High growth companies use talent as a corporate differentiator.  In fact, talent accounts for 29% of the difference between high and low performing companies.

To learn more about how to Use talent as a corporate differentiator, download Why Talent Is Only 1/3rd of the Talent Management Recipe for Success

 

Comments are closed.

LSA’s Employee Engagement Consulting and Survey work has provided critical visibility into: how well our people are holding up under the general economic environment, as well as, the specific challenges that face biotechnology companies in their efforts to discover and develop new medicines; their level of alignment and commitment to XOMA’s Vision and mission critical strategies; how leadership practices and management systems support an environment that engender commitment, and the specific actions that our leaders can take to improve on areas that are important to our people. I highly recommend LSA’s employee engagement solutions.

Chris Wells
Vice President, HR and IT

What a personal and professional pleasure it has been to Partner with LSA. They are truly a strategic partner with Wyse. For more than 5 years, LSA has been engaged in delivering various training and development solutions for Wyse, from custom on-site programs targeting specific core competencies, to working individually with clients to build job skills, and offering invaluable services to me and my team as we continue to build our learning programs. LSA’s representatives do more than sell a product, they offer a full service solution: they understand our business, our strategic initiatives, and the needs of our customers.

Jeff Rangel
Director of HR

We contacted LSA to help us with customized management development. LSA worked with me to identify a solution that would meet our exact needs. We decided to start at the top and ran the program for our executive team. It was such a great success that we hope to roll it out companywide. We look forward to a long-term partnership with LSA Global and their team of experts.

Barry L. Byrd, SPHR
Human Resources Manager

LSA’s customized Effective Presentation Skills program has helped me elevate my presentation skills to the next level. I now have a much greater self-awareness of my presentation skills and can leverage off of my strengths while working to improve upon other areas. I would definitely recommend this solution to anyone for whom business presentations are an integral part of their job.

Jim Elliott
Senior Marketing Manager

Samsung

I have worked with LSA Global at previous companies and welcomed the opportunity to bring them in to support my new organization. We worked closely with LSA to design a solution for our Client Partner Teams and Management Training on both coasts. LSA designed a customized solution for our business and organizational culture. LSA is a quality organization, one that I’d recommend to any company looking for a first class training and consulting partner that makes an impact.

Laurie Torres
Chief People Officer

Each program is preceded by an assessment of the participants. The course is then designed to fit the specific parameters and needs of the group. The highly interactive delivery is provided by recognized experts in their fields. On the spot coaching is provided during the program and each participant receives individual follow-up after the course. Courses can be delivered in-person or virtually. Given the nature of Cisco’s business and the way we operate, these remote workshops are a must for anyone who joins our company. Their work is eye opening. Great content and fantastic delivery.

Frank J. Kuypers
Business Development Manager

For our go to training outsourcing partner, LSA provides exactly what we want. As always, they deliver outstanding work!

Elizabeth Siebert
Director, Organizational Excellence & Development

Intuit

We have worked with LSA Global for our learning and development needs and have always had great success. They helped us recently with customized Management Workshops that we held for the second time. It was fantastic, and I would highly recommend LSA to anyone that is attempting to get immediate and impactful improvements.

Mary Johnston
HR Manager, BU Radiology Informatics

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.

Robert Breckner
Firmware Engineering Manager

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.

Ken Boehm
Vice President of Human Resources

In my years working with LSA, it seems like I’ve had a personal consultant at my fingertips to help me identify just the right solution to satisfy our needs. The entire LSA team has become a trusted friend of Actel — assuring we provide state-of-the-art learning to meet our complex, high-tech business and people needs.

Linda Mitchell
Training Manager

LSA has been a tremendous asset to my portfolio, both at my current company and my past company. As an HR leader, I am always looking for ways to find external resources that can provide a solution to our management training needs. LSA does that for me. Their solutions are presented in a much more leadership-oriented manner so as to be crisp, business relevant, and easy to apply right back on the job. I will continue to augment our programs using LSA solutions.

Ken Boehm
VP of Human Resources

We partnered with LSA Global to help us invest in our people in the areas of performance coaching, diversity, and inclusion. They focused on helping us succeed and were very flexible in meeting our specific needs. LSA Global exceeded my expectations from a speed, quality, and value standpoint. I would recommend LSA Global to anyone looking for a true business partner.

Anita Luckinbill
Director, Human Resources

On behalf of Roche and my staff I would like to sincerely thank you for your help with this. The English as a Second Language (ESL) assessment and coaching that you provided for our team was a great success.

Cam Greig
Associate Director

Roche

We value our relationship with LSA Global. We came to LSA because we wanted to improve overall behavioral based interviewing capabilities of our managers to increase the probability of both hiring top talent and future leaders. LSA designed a highly customized solution for our business and culture. We are currently rolling out this solution to our leaders. I would highly recommend LSA Global as a top quality resource.

Rae Phillips
HR Project Manager - Training & Development, PHR

Evaluate your Performance

Toolkits

Toolkits

Download key published insights and tools from industry experts highlighting best practices in the areas of talent, strategy and culture.

More

Health Checks

Health Checks

Want to know how you stack up against leading organizations?  Receive a complimentary benchmarking analysis courtesy of an LSA Expert.

More

Whitepapers

Whitepapers

Get up to speed on timely solutions critical to your business. Published by LSA Experts based upon client feedback and key industry trends.

More

Methodology

Methodologies

First we identify the key metrics you want to improve. Then we assemble a dedicated team of elite experts who have successfully solved similar problems with similar clients.

More

Blogs

Stay up to do date with the latest information on how we help high growth companies align their culture and talent with strategy.

More

Case Studies

Client Case Studies

Real world consulting and training approaches from LSA projects, providing insights on how your company can outperform the competition.

More