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Tuesday, February 3, 2015

Talent Management--Post #3--The Right People

The Right People. Corporation execs make decisions 70% of the time based on only one alternative to choose from, and they make errors 52% of the time. Can have choice overload—we’re better selecting from 6 offerings than from 24. Too many alternatives are as bad as too few. Checklists work! Surgeons have found checklists, just like the ones pilots use, work very well in preventing errors. Simple stats based on performance measures can better predict success than intuition. In fact, emotional intelligence (managing self and others) is the most important factor in predicting success of execs. Performance is less portable than we believe. Performance = processes, products, people and politics—most of which you can’t take with you. Assess “fit” with your culture, people, and strategy when hiring an outsider. In an uncertain world, adaptability—especially in non-linear environments—should count bigtime, just like performance. Don’t compromise on values, cultural fit and potential. Egon Zehnder has developed several general high-potential traits (motivation, curiosity, insight, engagement and determination) as well as 8 leadership  competencies: Strategic, Market insight, Results oriented, Customer focused, Collaborative, Develops talent, Team leadership, Change leadership—based on a massive study with McKinsey that was validated.

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