Talent Management and Executive Coaching; Cincinnati, Ohio – Why is talent management so often ignored?
Talent Management and Executive Coaching; Cincinnati, Ohio – Why is talent management so often ignored?
The senior management of companies has three main constituents – shareholders, customers, and employees. All too often, they see them in that order of importance. We see an incredible focus on short-term goals – the next quarter’s earnings report. Even a focus on customer has become secondary to the continuous drive for better financial performance, which translates to bigger bonuses, and a higher stock price for executive stock options and restricted stock units (RSU’s).
Employees are viewed in last place as somewhat of a commodity that can be used and discarded. Even the best talent in the organization is seen as being replaceable. After all, there is always more where that came from. And they may be able to be replaced with better, younger talent at a lower cost. And that investment in talent management takes away from the bottom line. So why do it?
The smartest companies recognize that a wise investment in talent management actually enhances the financial performance that has become so important in today’s businesses. It is far LESS expensive to enhance the skills of existing employees than to replace them. Even the brightest new employee will take years to regain the core business experience that the older employees have. In the end, a thoughtful, extensive talent management program is one of the most important steps that can be taken to enhance financial performance, customer service, and employee satisfaction.
