Melissa Freitag, Director of Recruiting at SBI, takes a look at the importance of talent review and having the most talented people embedded in your business.

It is essential for organizations to have the most talented people embedded in their businesses. Without their greatest assets, there is risk for major losses across the board. Key elements in preventing such loss are the:

 

  1. Approach
  2. Framework
  3. Timing of senior talent reviews.

     

     

 

 

Consider a 30,000 ft. View of Your Organization

 

Take a step back and look at the existing executive team as if you’re looking at them for the first time. In many cases, the talents, the skills and people that were responsible for getting you to where you are today are not necessarily the ones that are going to most effectively propel you forward in the future.

 

Embrace the Opportunity for Optimization

 

Talent reviews are a vital element of talent management since they are your organization’s opportunity to assess current executive leadership. They drive insights that allow identification of rising stars and their strengths, but also poorly managed or under-performing team members. In theory, talent reviews should form an integral part of the people strategy and should enable your company to make best use of its resources.

 

For other SBI articles on Optimization, check out:

 

  1. Optimize Your Demand Generation Spend
  2. Optimizing Rep Assignment and Quantity – Straight-forward Analysis
  3. Optimize Demand Generation Through A/B Testing
  4. Optimizing an Enterprise Channel Strategy

     

Remember Timing is Everything

 

It is important to be mindful of the fact that reviews are usually associated with performance reviews, as well as with other activities that must take place before the end of the year. Top company practices suggest that the end of the year is a good time to review your company’s talent review; however, talent review meetings should take place several times a year. These opportunities include whenever a key position becomes vacant and when your business needs change.

 

Don’t be Afraid to Go Off-Script

 

While reviews will generally follow a consistent structure and talk track, a review setting that accommodates a change of pace can prove further success. Be open to adapting the conversation and prepared questions to allow for a collaborative, free-flowing conversation. This flexibility will make for a dynamic, productive exchange of thoughts during the review.

 

Encourage Reviews to Empower Transformation 

 

In times of mergers, acquisitions, or when integrating a new executive team, a senior talent review is an invaluable tool to ensure continued success with meeting your business objectives and succession planning. During a transformation, the talent of the C-Suite needs to be matched to the new skills required. It’s a pivotal opportunity to re-establish that you have the right people in the right roles to take your company through that critical transformation.

 

Benefits of Ongoing Talent Reviews:

 

  • To the Individual: Validly & accurately assess each individual’s personal characteristics, social & communication style, decision-making effectiveness, and management & leadership competencies. Coaching and mentoring based on individual needs.

     

  • To the Team: High potential identification and capitalizing on talent.

     

  • To the Organization: Evaluate individuals fit within your organization’s culture or for a specific role. Match the capabilities of the executive team to the objectives and requirements in the corporate strategy. Cost benefit ratio; i.e., putting everyone who is on the bus in the right seats.

     

For more assistance with Senior Talent Reviews, download the Talent Review And Succession Readiness Guide or visit myself and my colleagues at The Studio.

 

 

 

Additional Resource

 

For additional help evaluating your strategies, click here to take SBI’s Revenue Growth Diagnostic.

 

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ABOUT THE AUTHOR

Melissa Freitag

Sources top executives for SBI and our clients.

Melissa joined SBI as Director of Recruiting to source top talent for the firm. She has successfully recruited multiple professionals to join SBI and recently has been sourcing executives for many of the firm’s clients.

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