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                            Showing posts with label talent. Show all posts
                            Showing posts with label talent. Show all posts

                            Thursday, July 31, 2014

                            Inability Of Organizations To Manage "The Flow" Of Talent Management


                            The flow, a concept developed by one of my favorite psychologists, Mihaly Csikszentmihalyi, matches the popular performance versus potential matrix that many managers use to evaluate and calibrate their employees. For people to be in the flow they need to be somewhere in the middle moving diagonally up. Ideally, this is how employees should progress in their careers but that always doesn't happen. To keep employees in the flow you want to challenge them enough so that they are not bored but you don't want to put them in a situation where they can't perform and are set up for a failure.

                            Despite of this framework being used for a long period of time I see many organizations and managers continue to make these three mistakes:

                            Mistaking potential for performance

                            Performance, at the minimum, is about given skills and experience how effectively person accomplishes his or her goals. Whereas potential is about what person could do if the person could a) acquire skills b) gain access to more opportunities c) get mentoring. We all have seen under-performers who have more potential. In my experience, most of these people don't opt to underperform but they are put in a difficult situation they can't get out of. We routinely see managers not identifying this as a systemic organizational problem but instead shift blame to employees confusing potential for performance suggesting to them, "you could have done so much but you didn't; you're a slacker." A similar employee with equal performance but less potential would not receive the same remarks on his/her performance.

                            Treating potential as an innate fixed attribute

                            One of the biggest misconceptions I come across is managers looking at potential as innate fixed attribute. Potential is a not a fixed attribute; it is something that you help people develop.

                            These out-performers who are not labelled as "high potential" are mostly rewarded with economic incentives but they don't necessarily get access to opportunities and mentoring to rise above their work and a chance to demonstrate their potential and make a meaningful impact.

                            Fixating on hi-potential out-performers

                            Not only managers fixate on hi-potential out-performers but they are also afraid that these employees might leave the organization one day if they have no more room to grow and if they run out of challenges. As counterintuitive as it may sound this is not necessarily a bad thing.

                            We all live in such a complex ecosystem where retaining talent is not a guarantee. The best you can do is develop your employees, empower them, and give them access to opportunities so that they are in a flow. As a company, create a culture of loyalty and develop your unique brand where employees recognize why working for you is a good thing. If they decide to leave you wish them all the best and invest in them: fund their start-up or make them your partners. This way your ecosystem will have fresh talent, place for them to grow, and the people who leave you will have high level of appreciation for your organization. But, under no circumstances, ignore the vast majority of other employees who could out-perform at high potential if you invest into them.

                            Thursday, March 31, 2011

                            It's 1999 Again: The Bubble 2.0 And Talent Wars Of The Silicon Valley

                            I have been living in the Silicon Valley for a while, and sure enough I haven't forgotten the dot com days. A few days back, on my way to the San Francisco airport, I saw a billboard by aol advertising that they are cool (again!). I also observed that parking lots alongside 101 weren't that empty. I told myself "man! this does feel like 1999".



                            The smart people - entrepreneurs, VCs, and analysts - that I talk to, tell me that we're in a bubble. They call it Bubble 2.0. Perhaps, they're right. The company valuations are through the roof. Facebook is valued around $75 billion and Color, on the launch day, had $40 million in the bank. The angel, super angel, and incubator investment deal flow is bringing all the talent to the Valley and all these young smart entrepreneurs are working on some of the coolest things that I have ever seen. But, there's a talent side that I am worried about. What this influx of easy venture capital has ensued is companies waging talent wars. For companies such as Google, attracting and retaining talent has become very difficult. Facebook and Twitter are new Google and Quora is new Facebook. The talent acquisitions that worked in the past, such as Facebook acquiring Friendfeed, have started to fall apart since the founders realized that serial entrepreneurship is a much better option that allows them to control their destiny against trusting someone else's innovation engine.



                            I like the creative ways in which the start-ups try to attract the talent. When Google launched a sting operation against bing, they took the honeypot keyword "hiybbprqag" used in the sting operation to register the domain http://www.hiybbprqag.com and redirected it to the Google Jobs page. They received a few thousand resumes that week. I am seeing more and more creative techniques that the companies use to attract talent. The value proposition for a killer designer or a super-geek programmer to work for you has to extend beyond the basics in the valley. This is especially true under current circumstances where there is a stunningly short supply of designers and developers in the Valley.



                            The talent war is for real. It's easy to get money and get started on an idea, but a real success requires a great team composition that is not easy to achieve. But, that's the reality of the start-up world and we should recognize that the people are even more important than ever before. If you think retaining talent was hard, gaining talent is much harder. I also foresee that these new millionaires will most likely angel invest their money into new start-ups. This floodgate will result into more start-ups competing for talent and possibly with the marketing budget of the incumbents. But, then, if we believe, it's a bubble, it gotta burst one day, and when that happens, it won't be pretty.

                              
                              

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