Great managers are typically experts in their fields with strong performance history and an interest in being in charge. But to lead effectively they need to develop another skill – talent management. The ability to see talent before others see it, unlock human potential, and find the best employee for each role.
In short, great managers are also great talent agents.
Think ahead
Oddly, prospective employees are often asked during job interviews what their five-year career aspirations are or where they see themselves in five years; yet few managers ask themselves what their five-year talent strategy is.
Most leaders know what kind of talent they are looking for at the moment, but far fewer think ahead to figure out whether or not their new hire has skills that align with their long-term strategy.
If you know where you want to go, focus your efforts on hiring someone with the skills, abilities, and expertise you will need to move forward.
Don’t go outside when you can stay inside
Firms often hire externally when they could source better talent from within. Scientific reviews show that external hires will take longer to adapt and have higher rates of voluntary and involuntary exits — yet, they are generally paid more than internal candidates.
That’s why it’s valuable to look for talent internally before you search outside your organization. Internal hires tend to have higher levels of adaptation and success rates than external hires, not least because they are better able to understand the culture and navigate the politics of the organization.
They are also more likely to be loyal and committed to their company. Further, promoting internal candidates boosts other employees’ engagement.
Think inclusively
Most managers tend to hire people who remind them of themselves. This tendency harms diversity and inhibits team performance.
The only way to think about talent inclusively is to embrace people who are different from you and others already on your team.
The engine of progress is change, and change is unlikely to happen if you only hire people who perpetuate the status quo. We all know that companies with a diverse talent pipeline tend to have better financial results.
Be data-driven
Every human — managers are no exception — makes bad decisions from time to time. But very few are interested in acknowledging this, which is why hiring biases are often so pervasive.
Research shows that hiring managers would rather inflate performance ratings than admit they hired the wrong person. Likewise, before you nominate someone as a high-potential employee. Arm yourself with solid data and evidence to ensure that your decision is fair and sensible, even if the future proves you wrong.
Talent identification is an ongoing process of trial and error, and the point is not to get it right but to find better ways of being wrong.
Think plural rather than singular
We live in a world that often glorifies individualism and bemoans collectivity. However, almost everything of value that has ever been produced is the result of a collective human effort. People with different backgrounds coming together to turn their unique talents into a high performing synergy.
On great teams, each individual is like an indispensable organ in charge of executing a specific function. Making each part different from others, and the system greater than the sum of its units.
Make people better
No matter how skilled your employees may be, you still need to help them grow in new ways. In sum, being a great manager is, in large part, about being an expert in talent matters.
And the most important part of this process is to never stop thinking about your employees’ potential and talent. No other factor is likely to make such a big difference when it comes to building a high performing team.