In a recent reading, I happen to come across a phrase: “Manage people as you manage business”.
It’s quite interesting to contemplate on why many leaders fail in managing their people with the same passion that they have in managing their business results.
It’s a fact that, if one manages their money as carelessly as they manage their people, they would soon be extinct. All those businessmen out there knows this very well. However, the world has changed now and soon those businesses would be extinct if they manage their talents carelessly disrespectfully.
Having worked with many businessmen, owners and having seen many different types of those leaders in my career, each one had something to offer as a learning. Those who kept people as their backbone of their business excelled beyond boundaries and those who treated people as ancillary to their financial results kept losing valuable talents while harvesting money.
“Talent management” is an art by itself and in a world full of intelligence, managing them effectively is an art many business owners and entrepreneurs have failed to value.
Gone are those days where talent stays with your business for a lifetime. When we look back at our parents or grandparents, I am sure you will notice that they have lived their life with one organization and in today’s scenario, the talents change jobs in pursuit of better challenges, growth, pride, money etc.
In a word of social media and information surfeit, today’s talents do not have time to wait for advancement and they look for quick success as aspirin curing their quench for triumph quickly. All the more reasons, today’s business need to recognize the importance of managing this high potential, highly volatile, highly restless and highly ambitious talents effectively, sensibly and above all mindfully.
If you keep counting your coins at the end of the day and keep feeling happy looking at the bottom lines going up while smacking your senior managers, your employees, it’s about time that such a business would be history.
Every employee today looks at what’s in it for him like how a business man looks at as what’s in it for him. In business, the focus tends to be more on reaping profits and filling one’s pockets. In the race of making more, some of these entrepreneurs who happen to occupy the chair of leaders by virtue of their money tend to disregard the value of human beings, the value of people relations, the value of educated talents.
“Talents are hungry for Value recognition”
Often we see businessmen, who grew from nothing finding difficult to get out of the greed of money and, however, they try to dream to be a corporate, unfortunately, what is in their DNA resist them from changing. They continue to hold on to the relentless passion for making more money, forgetting the fact that the means of earning more emanate from the best of talents that he has.
In an era of competition, survival is the challenge that any business face and the victory of any organization is on the adroitness in nurturing its talent.
Talents today need recognition, it needs loyalty from leaders, business owners and those days of being loyal to one company or devoting the entire life to one company is all gone.
It’s an exciting phenomenon to look at that if you need people to be loyal to you, extend loyalty to them as well.
“Loyalty breeds loyalty”.
How would you be loyal to your people? How do you make your employees feel the loyalty you extent? Companies like 3M are known for sharing their profits with their employees and there, of course, there is no need to worry on the lack of sense of belonging. Making your talents feel owners is the only way to make your business grow. The art of sharing is something which today’s business owners need to learn and accept for a continuous success. It’s a pity sometimes CEOs and business owners keep harping about the sense of belonging and commitment and loyalty etc. without even having the willingness to think about what they have done to ask for the belongingness from the talents.
“You reward your talent timely, belongingness will arrive naturally”
Today’s businessmen/ CEOs need to devote time to creating ideas to manage talent, in the same way, they create ideas for making more money. The love that you feel towards the business growth has to have its share shown towards managing talents. How the world would be if business giants look at Talents as their money, if they take care of talents as they do for their money and wealth?
“Love your talents, the way you love your profits”
Keeping your talents focused at results is the prime KRA of a CEO. CEOs must be assessed on how they manage their talents to performance. CEOs should be accountable to keep their leadership team together, their employees’ motivated every second.
Business failures must be considered as a shared responsibility even though people accountable must feel the heat of it. Any business downfall could be a reflection of the leader’s performance, but a CEO must take the ownership and handhold the leader of the business, must work together as a team, must understand the realities of business situations, and must be able to encourage people at a time of downward trend in business. One important aspect of talent management is to own the failures of your team and recognize successes as your team’s own achievement.
Often some businessmen, CEOs and other leaders of business tend to be emotional and their quench for more money and the fact of losing money getting to their nerves numbs them of people relationship tactics, resulting in sabotaging high-value talents, ridiculing the talents, degenerating the energies in team to pick up the loose strings and trudge forward.
“You kill talent if you mistreat them”
Sometimes I keep thinking that why these CEOs do not have the same appetite and drive that they have towards their financial results when it comes to keeping their team together, in recognizing their team, in supporting their leadership team, in handholding their team, in reenergizing their team to success. All that a CEO or a managing director require at times of slow business and at times of tough challenges is composure, self-assurance, the confidence and courage that should get conducted to the team to get their shoes on running track.
“Talents need to be inspired”
Managing talents are no easy task and it require people skills. It needs a heart and not just head alone.
Talents are a fluid commodity nowadays and easily tradeable in the market and losing one is easy which today’s leaders of business must understand and accept their existence in this competitive market.
Sometimes you lose a talent even when the talent is with you and hardly any leaders realize that. The dreadful thing to happen in a business is a talent living on your books of account but mismanaged. Talents can occupy both sides of your balance sheet and it’s high time one realizes the same for mending one’s way of managing them. Tactfulness is the key in managing talents. Respecting the talents around you is a great value that one can add to keep their talents together in business.
“A talent mismanaged can be lost even if it exists in Organizations”
By Binu Prasad
Source of Image: Google