**How new investors can start using a small-business mindset to maximize their wealth.** An early start in investing can be a huge advantage, but investors must quickly learn to make the most of opportunities. Thinking like a small-business owner can yield great benefits to investors' portfolios.
Make talent your business
β Scribed by Wendy Axelrod; Jeannie Coyle
- Publisher
- John Wiley and Sons
- Year
- 2011
- Weight
- 115 KB
- Volume
- 2011
- Category
- Article
- ISSN
- 1087-8149
- DOI
- 10.1002/ltl.486
No coin nor oath required. For personal study only.
β¦ Synopsis
b y W e n d y A x e l r o d a n d J e a n n i e C oyle
MaKe taLeNt YoUr BUSINeSS
M
any leaders are stalled in a know-do gap. they might have the concrete intelligence that points to a superior outcome (the know), but current momentum (the do) keeps them on their familiar course. take the case of talent development. even though talent development is a proven driver of high-performance organizations (the ones that outperform competitors in revenue growth, market share, profitability, and customer satisfaction), the know-do gap seems to be an expanding chasm.
Here's what we know. First, many leaders know that their line managers are the primary lever for significant employee growth. It makes sense. Managers continuously communicate with employees, delegate work, identify resources to get the job done, and guide employees' performance. Second, decades of research confirms that most development happens by learning through work experience. Yet many managers rely heavily on training and their human resources departments to get the development done.
We know managers are in the right place and could significantly help in the effort to develop talent. Yet for the most part we do not equip them or ask them to do the job. actually, research shows fewer than 12 percent are held accountable for developing employees. Instead managers are required to focus on this quarter's numbers and by default leave the development on the sidelines. that's a shame, particularly when many companies are spending millions on training, high-potential programs, and succession planning while getting limited return. McKinsey-in a 10-year follow-up to the 1997 War for Talentnotes that the heavy investments to date in talent management processes have proven to be insufficient, superficial, and wasteful.
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