How to Reduce the Risk of Reliance on Your Key Players
Mike Figliuolo
Managing Director, thoughtLEADERS, LLC?, LinkedIn Learning Author, and Board Member
Key players are great to have on your team but if you rely on them too heavily, you create risk for your organization. Be sure to diversify your talent pool.
Every team has key players . They take us to new highs. Innovate constantly. Bring powerful personalities to the game every day (why do you think they called Gretzky "The Great One" huh?).
At some point, though, they become such a huge asset that they’re a liability. If you’re not careful, you put all your proverbial eggs in their basket. Without some deliberate planning, you’re going to end up with a big scrambled mess.
Why is reliance on these luminaries dangerous? Aren’t they the ones who got you there? Absolutely! However, over time their personality takes over the company or organization. The halo effect of that founder or “hi po” associate becomes a burning flame that, if and when it goes out, the whole organization could go dark.
This dynamic happens in both large and small companies. In large companies, these are the rising stars we come to depend on and build teams around. In smaller ventures, they’re typically the founders.
What happens though when these people quit, retire or move on to another organization? If you haven’t planned for this event, you’re in trouble. The good news is there are a few things you can do to avoid a calamity (That is such a cool word – I’m thrilled I got to use it today. Related: I’m a geek).
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How can you reduce these risks? Here goes:
Read the rest of the article HERE.
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Mike is the managing director of?thoughtLEADERS, LLC?– a leadership development training firm.
Leader in Technical Content | ServiceNow
2 年Recently, I wrote a note on this aspect for our senior management. "Mitigation of KeyPerson Risk." Every word in this article makes so much sense.