Kaizen, Six Sigma, PCMM, CMMi, COPC, LEAN Management what next? Post the recession, what will be the value differentiator in the new world order? Will it be the same old certificates in quality which will differentiate the good companies to not so good ones, or will there be new Economic Monopolies be defined. I feel the new world order will be more on who has the best talent and who has the maximum return customers will be the leader.
To substantiate this further, I think if we look at the recession history, the companies with more robust people processes, development and continued patronage from customers are the ones who thrived and survived.
Jim Clifton’s (CEO and Chairman of Gallup Organisation) recently at a MBA Degree Ceremony in my company said, “The world post economic downturn will be ruled by the country with maximum return customers or Economic Monopolies” I think this is true even to the corporate world.
What one has to do to keep the house in order for any further eventualities will be governed by the TALENT MANAGEMENT principles of the organization as well as retaining the CUSTOMER BASE which has been created. We will see war for Customers intensify more than war for religion, land or water in years to come.
What HR Can Do
The forces of the war for talent add up to a fundamental shift in the business environment, requiring companies to radically adjust the way they manage people.
1. HR can be in the forefront of instilling a talent mindset at all levels of the organization beginning with senior management – A talent mindset is the deeply held belief that building a strong management talent pool is critical to achieving the aspirations of the company. Leaders with a talent mindset roll up their sleeves and make talent their job; they continuously create, champion, and drive new ways to bolster talent. They ensure that the link between business strategy and talent requirements is forged.
2. Create a winning Value Proposition that brings scarce talent through the doors, and keeps them there – Just as a company carefully shapes its value proposition to customers, it should also deliberately craft the value proposition to its people. They should ask questions like, “Why would a talented person want to work here?” (Perhaps for a Great Company, Wealth and Individual Value Creation and Growth and Development).
3. Grow great leaders – Most companies leave a tremendous amount of human potential unrealized because their people are inadequately developed. Talented people crave the opportunity to grow, and without it they’ll leave. Growing great leaders means deliberately giving them job challenges that push the bounds of what they thought themselves capable of. At the same time, it means providing the life preservers for succeeding at “stretch” opportunities. It means giving people the candid feedback they need to grow, without the sweaty palms that often characterize these infrequent exchanges. It means weaving mentoring into the fabric of the organization – so that it is in the institution, not an appendage.
4. Differentiate and affirm – HR too often give in to the temptation to treat all their people the same. The leading companies conduct clear-eyed assessments of their talent; they differentiate in how they invest in their top performers and low performers. They shower top performers with job opportunities that excite and challenge them, and pay them for the value they create.
Finally, HR can build employer brand and reputation by embodying the identity of the company as an employer of choice. Communicate overarching goals, connect people and share expertise. In essence, the HR function now must have the ability to make a company spin in a new direction quicker.