Do You Know the Talent Management Recipe for Success?
Most people leaders admit that the talent management recipe for success is elusive – especially for high growth organizations. we believe that the goal of talent management is to create and sustain organizational excellence through people — by attracting, developing, engaging and retaining the top talent that makes sense for your business strategy and unique organizational culture.
Done right, effective talent management can differentiate your company from the competition in both good and bad times. Done poorly, inconsistent and unaligned talent management methodologies can grind your company to a halt.
If you are looking for a sustainable and profitable talent management recipe for success to help grow your business, there are three critical factors that need to be in place – Strategy, Culture and Talent – and all three need to be inextricably connected and aligned.
Your Strategy Must Be Clear Enough
Our organizational alignment research found that strategic clarity accounts for 31% of the difference between high and low performing companies. Successful leaders know that strategies must be clear enough for people to commit to them. Likewise, talent management plans cannot succeed unless they are purposefully linked to the strategic priorities of the business.
Fundamentally, strategy is about making hard choices and focusing – almost ruthlessly – only on the areas with the greatest leverage. If your strategy is inconsistent, unclear, or not being successfully implemented across the company, you have some strategy design and cascade work to do before you can focus on an effective talent management plan for success.
Your Culture Must Be Aligned with Your Strategy
Once your strategy is clear enough to act, you must ensure that your culture is aligned with your strategy. We define workplace culture as how work gets done on a day-to-day basis. Your culture can either help or hinder your ability to execute your strategy.
Cultural alignment accounts for 40% of the difference between high and low performing companies in terms of revenue growth, profitability, customer loyalty, and employee engagement. Your culture provides the glue necessary for any talent strategies to stick. It is a mistake to invest in big talent management initiatives before your culture is aligned with your strategy.
Your Talent Makes It All Work
While we believe that the purpose of creating a differentiated talent management strategy is to drive organizational excellence, we were surprised to learn that Talent only accounted for 29% of the difference between high and low performing organizations. While it makes sense that even the best people can get derailed by unclear strategies and misaligned cultures, we thought that talent would have a bigger impact.
While it is still true that organizations can ill afford to hire wrong or to lose current players that matter, we now know that your strategy must be clear enough and your culture must be aligned enough for those talent management strategies to pay off. Once your strategy and culture are aligned, building a high performing workforce has four main building blocks:
Then define the profile of a successful candidate and the organizational culture in which they need to succeed. Selecting new employees is one of the most critical decisions an organization can make. Invest the time required to get the job profile right, conduct thorough behavior-based interviews, hire smart, and increase speed to productivity and engagement with a quality on-boarding program.
Our research of over 800 training measurement projects has shown that only 1-in-5 people change their behavior from training alone. Start by identifying the specific business metrics that you want to improve with your key business stakeholders. We call this the Metrics-to-Move™.
Make sure that you identify key business and learning objectives, agree to leading and lagging success metrics, calculate desired targets for each metric, complete a high-level business case that aligns with company priorities, and draft a high-level project, communication, measurement and change management plan.
In other words, treat training like any other business initiative, not an employee benefit.
The Bottom Line
If you want your talent management strategy to create organizational excellence, start with the business strategy and the organizational culture. Then you can confidently create an aligned plan to meaningfully attract, develop, engage and retain top talent. That is the Talent Management Recipe for Success.
To learn more about how to get the most out of your talent, download The 3 Areas that You Must Get Right for Your Talent to Perform at their Peak
4 Keys to Keeping Talent Up to Date
Why Employees Change Their Mind
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.
HR Manager, BU Radiology Informatics
LSA has become the gold standard in team building and management training at Genomic Health! I have a hard time finding facilitators that come close to their level of customization, expertise and experience.
Director of Human Resources
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
What a refreshing change from the half-baked psycho-babble you normally get from training and consulting organizations. LSA gives you the practical and results-oriented assistance you need to define and reach your goal. They provide a results driven plan – not just a temporary fix. They are great to work with, and even more importantly, they “get it!”
Vice President 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.
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
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.
Senior Marketing 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.
Vice President of Human Resources
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
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
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
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
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.
VP of Human Resources
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.
Director of HR
We partnered with LSA to pilot a customized behavioral interviewing program to help ensure that we continue to hire the best and brightest as we continue to rapidly scale. LSA’s ability to understand our business and our unique culture combined with their desire to ensure that the best practices framework truly fits our performance environment and is highly adopted by our people is a real blessing. Most other firms want to just ‘give you training.’ Not LSA, they are focused on helping me hit our hiring forecasts and attract A players.
Director of Global Recruiting
Download key published insights and tools from industry experts highlighting best practices in the areas of talent, strategy and culture.
Want to know how you stack up against leading organizations? Receive a complimentary benchmarking analysis courtesy of an LSA Expert.
Get up to speed on timely solutions critical to your business. Published by LSA Experts based upon client feedback and key industry trends.
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.
Stay up to do date with the latest information on how we help high growth companies align their culture and talent with strategy.
Real world consulting and training approaches from LSA projects, providing insights on how your company can outperform the competition.