Allocating talent is as important as allocating capital
While deploying capital is hard, dealing with people is even harder. Success as a business leader depends more on your ability to acquire and maximise human talent than any other skill. Many of the CEOs we speak to, admit they need to make more of an investment in people. All agree its important that they get this right, and ensure it is closely monitored and measured.
Once employees are on board, the CEO needs to realise that each person is a unique individual with differing strengths, weaknesses and expectations. Spending time developing high performing teams will pay huge dividends for CEOs and their shareholders. This includes spending regular time with direct reports to discuss overall performance, identify where additional talent is needed, and determine which employees need improvement or can be groomed for future leadership positions.
If gaps are identified, a properly thought out talent strategy should be designed including identifying and pipe-lining potential talent from outside the organisation.
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