Top talent is a competitive advantage. According to McKinsey & Co., in highly complex jobs, a great candidate could be as much as 8 times as effective as an average one. So, is it not obvious that all companies would bring top talent and literally unleash their potential, to take the business to great heights? Well nothing could be further from the truth.
Here is what plays out in reality with many organisations who fail to either attract top talent or harness their potential:
- Not Mandated - High impact roles are often not called out separately - some organisations do this but many fail to. High impact roles require a different treatment in terms of criteria, search, recruitment engagement, compensation, and career path design. Failing to design a high impact employee value proposition means crippling the organisation's chances of attracting top talent.
- Familiarity trap - Most companies would rather settle for a familiar candidate than to really find the best one. For one, it is considerably lesser effort and cost to do so, but also it is easier on the optics. A candidate known to the company is easier to sell internally and has a natural buy in, and it is not uncommon to hear "known devil is better than unknown angel" being passed around as justification.
- Under-confidence in the employer brand - Many employers are prisoners of their own design. They do not believe that they can attract top talent. This stems from the fact that they have always "played it safe", and relied on "known methods" to attract talent. This therefore becomes a self fulfilling prophecy unless they choose to engage with "experts" who can help them find and woo the best. Stellar professionals do search for greener pastures to get out of saturated organisations, make credible impact, and build a legacy which they can call their own.
- Sub-optimal effort - Imagine this scenario; Management has clearly identified that a role needs the best available talent - impact of which will drastically change the fortunes of the company. They have also earmarked a handsome budget for the role. However, as the next step the search is delegated to the "usual source". Fatal mistake. It is imperative that a different recruitment process be carved out for attracting and engaging top talent. Failing to plan this is failure to recruit. Other reasons will quickly substitute for why the best candidates are not coming forth, and objectivity will soon be lost in the organisational fog.
- Latitude to be different - One of the most important reasons a great professional will stick around is because she is allowed to be different. Whether it is openly dissenting in meetings, or getting exceptional approvals for key hirings or trainings - star performers love to have it their way. Of course, everything is ring fenced within the organisational imperatives of budget and governance, but these things are sacrosanct for the high impact individuals to run at full tilt. You don't get a derby horse and not give it a full track to run!
Ambition itself is a competitive advantage, in that "motivation" is not a state of mind but a key competency. Especially, if one can nurture it throughout one's career, one becomes a leader with experience and drive. Companies need the propellant energies of these leaders to leap frog their own growth, disrupt and transform. But like charity, change begins at home. Organisations need to understand the psyche of the apex talent and accommodate for the exception. Companies need to change how they imagine their conversation with top talent pre and post recruitment, become more enchanting to not just court but also have a productive marriage with top talent.
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About the author: Gaurav Chattur is Managing Director for Asia Pacific with a leading executive search and talent consulting firm called Catenon. He has rich experience in Strategy, Management and IT consulting with organisations such as Cognizant and Infosys. Gaurav is an MBA from ISB, Hyderabad and an engineer in Electronics & Telecommunication. He is also a career coach and writes actively for leading publications on issues related to talent and human resources.
Manufacturer of Electronic products
6 个月In general the problem was known but the way you have described the reasons of failure to attract the top talent, status and remedies become crystal clear.
Well articulated Gaurav !!! We often find companies are not investing in hiring top talent ( and it may be their inability because of the reasons mentioned by you) nor are they truly investing in High Pots in an aggressive way. Both these situations are holding back the max potential that companies could reach. There is an urgent need to correct the situation.
IT International Executive with a solid track record helping teams and organizations deliver results beyond expectations. Problem solver, get things done, team player. Insurance & IT Consulting, solutions and services.
6 个月Sometimes they want Top Talent but they just offer normal jobs and nothing special to attract top talent.
The insights offered are sharp and well-founded, highlighting the paradox where companies understand the immense value of exceptional candidates but fall short in their recruitment strategies and talent management practices. #leadership #leadershiproles #catenonindia