I asked the roomful of HR Leaders this question: Why do over 50% of your CEO’s have lists of key people/key positions, and yet <20% are doing anything to follow-up on those lists?
The room was very silent, then one lone voice offered an answer: Talking with them would mean we are making some guarantees – and nobody wants to break a promise. This is one of those things that make me go hmmmm . . . statements. I wonder what a high performer in an organization thinks of the silence?
Here are the results after I asked HR leaders to fill out the Talent Scorecard as if their CEO was doing the survey. The only two measures are 100% and <100%, because those are they only two measures that matter. 100% means you are doing the right things. <100% means that there is a person out there with a name, friends, bills to pay, skills/talents, and goals . . . that is not getting their needs met. These are basic needs. Here are the numbers.
Key Habits for Managing Most Valuable People and Roles
100% <100% 1. I have a list of key people whom we cannot afford to lose AND: 56.7 % 43.3 %
- I have checked in with them within the last month to see how they’re doing.
40.0 % 60.0 %
- I have written development plans for them.
20.7 % 79.3 % 2. I have a list of the key roles in my company AND: 51.7 % 48.3 %
- I have a performance/potential chart for people currently in each role.
17.2 % 82.8 %
- I have list of candidates in case of openings in these roles.
20.7 % 79.3 % 3. I have a list of high potentials for promotion and we have spoken with each person on the list within the last six months about his/her future. 14.3 % 85.7 %
Development programs are not a promise, they are a map. A map that provides an individual with key places they need to visit/experience over the next 12 months in their career journey. It gives an individual ownership of their development and puts the leader in the position of support. So what is the ROI of this conversation? The cost is about 2-4 hours of work on the part of the leader. Their might be some training costs, but they should be minimal given that 90% of learning happens outside a classroom. An effective development plan leverages real experiences and great mentors. What is the benefit of someone being 5% more excited about their work?
For a quick look at a performance conversation tool/development plan that works see trUTips #13