Work

Hidden Talents Part 1: Talent, Retention, And The New Realities

06.09.2008 | Chris Bailey

Before diving into the idea of hidden talent, we should take a step back and examine the current understanding of talent. Before 1997, the concept of talent was pretty much exclusive to the entertainment industry. That changed when McKinsey published their seminal study called The War for Talent. Whether or not you buy into whether there’s continues to be a war or not (particularly with our current sensitivities toward actual war), I think we can agree with the central thesis: that a post-industrial era company’s most vital asset is not bricks, widgets, or equipment; it lies in the intangible qualities of the company’s people.

Yet, if that’s true then why do so many organizations typically do a lackluster job at attracting, managing, and engaging talent? The answer lies in the persistent use of old school human resource practices and industrial age thinking about employees.

The Struggle to Attract and Keep Talent
The interesting trend is that recruitment continues to outpace retention when it comes to attention and innovation. But then, that shouldn’t come as a surprise. Getting something (or someone) new has always been sexier than trying to keep them. I learned that in a past-life working in nonprofit association membership management. When I compiled my monthly member data reports, my Boards and Executive Directors always asked first about the growth statistics. “How many new members did we get? Which recruitment effort worked the best? Etc, etc, etc.”

However, for all of this attention and innovation, employee recruitment often continues to be disconnected from the issues of retention. Think of the typical sales cycle within most companies: marketing creates a branding image and sales continues to build on this image to close the deal. What happens if this carefully crafted image turns out to be more myth than reality? You have some very pissed off customers on your hands (think: JetBlue, Microsoft Vista, General Motors for some recent examples of unrealistic branding). The very same thing happens in organizations. New talented employees are lured in by slick employer branding only to find that the reality of working there is quite different. Again, pissed off employees who are feeling disenchanted and devalued.

And this feeling isn’t exclusive to newer hires. If organizational changes are made that negatively disrupt that initial branding or a more recent employment experience (think job description changes or management shake ups), then you can expect a similar type of disengagement. The fact is that if left unengaged, your people will be shopping their themselves and their talents even in not so good economic times. Michael Gregoire, President and CEO of Taleo Corporation recently wrote:

Today’s workforce is in control. Employees want to understand how they are connected to the company. They want to know how they can progress. They want to work at a place that fits their lifestyle choices. As employers, we have been placed in the unenviable position of needing to market our companies to our employees each and every day. If we neglect to engage our own employees, those who are frustrated can surf hundreds of job boards to see what other opportunities await.

A Refreshed Look at Talent
While talent is often defined as a natural aptitude or skill, I take a wider view of it. It’s not just about raw intellect or strictly defined as having an Ivy League education. I see a talent as something unique to an individual. I also see it as a gift; a gift given to each of us that we can use in service to others. Some of these talents are immediately evident, particularly those that match up with our job descriptions. But we know that job descriptions, while necessary, can be limiting unless employees are given the room to explore outside of their boundaries. Each of us have been endowed with talents that not only energize us when we use them, they are an organization’s prime source of innovation, passionate enthusiasm, and competitive remarkability. In short, these hidden talents are one of the critical elements in creating a culture of high employee engagement that leads to long-term organizational success.

This week, I’ll be exploring hidden talents, why they are important, how to surface and use them in work, and ways to embed them in organizational culture. I’m looking forward to the rich dialogue we’ll cocreate together.

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3 Responses to “Hidden Talents Part 1: Talent, Retention, And The New Realities”

  1. Mark Salinas Reply

    Finding talented individuals is challenging enough, but to keep talent is more of a daunting task. Very good post!

    Mark Salinas
    Insights on the World of Business Management

  2. Steve Roesler Reply

    Hi, Chris,

    Back on the comment circuit after a week conducting meetings involving, in great part, the issue of talent. As you know, this is my favorite area and the one in which I spend the bulk of my consulting and coaching time.

    Here’s what I’ve concluded: The issue of retention is not actually at the top of the minds of those who run organizations. It may be on the list of proper things to say, but it’s not at the top of the list of things to do.

    What is at the top of the list? The numbers. And more importantly, the short term numbers.

    Retention is an issue that HR/OD types have raised as a legitimate one because of their unique viewpoint and connectedness to the total organization. From our viewpoint, their should be a war for talent and an effort at retention. However:

    When you are one of a half dozen or so people at the top of an organization who earn 6 to 7 figure bonuses for delivering increased profitability, you do what the rest of us do: You pay attention to what you get rewarded for.

    Retention costs actual money. That may not be a rewarding thing, regardless of the expertise and institutional knowledge harbored within certain individuals. In fact, those are the people who are probably costing the most as a result of their longevity and related salaries.

    It’s not attractive–but it’s true.

  3. Chris Bailey Reply

    Steve, thanks for the dose of experience and reality. I think one area where folks like us can get discouraged is when we realize that our advice is not being heard by executives even though we make all these impassioned arguments for why retention is so vital to the organization’s health. But you hit it squarely on the head when you remark: “You pay attention to what you get rewarded for.”

    Somehow we have to work to change the conversation from short-term profit focus to a long-term people focus (and with our economy the way it is, that’s going to be quite a feat). It’s overturning decades and a few centuries of business thinking but – and feel free to call me crazy – I think we’re a hell of a lot closer to creating functional organizations today than yesterday.

    I hold fast to the ideal that great organizations that understand the value of people are like magnets for the best talent. They believe that people drive profits and not the other way around. So…what must we do to help executives make people and retention one of the top things on their list? Or do we need to be like the Ghost of Christmas Future and show them how things are going to be if they don’t alter their thinking and actions?

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I help business leaders and their organizations improve how they relate to their customers, employees, and other critical stakeholders. It’s born out of my belief that individuals crave meaningful relationships and want to be involved with companies that connect with them personally. I’m devoted to helping organizations discover the unique qualities that make them remarkable.

I’m currently a Master’s student at the University of North Texas studying business anthropology.

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