Most companies know the cost of their talent, but they have no way of quantifying its value. A disconnect between talent and value is a risky business—and regrettably common.
Gaining a true understanding of who your top talent is and what your most critical roles are is a challenging task, but worth the effort.
It is imperative that Senior Executives find their own unique and best ways to link their companies’ business and talent priorities. Some executives often use hierarchy, relationships, or intuition to make these determinations.
But, does that really work?
For instance, when an Executive is asked to identify the critical roles in the company, the Executive might fail to mention the role of the Front Desk Officer, in part because the position does not appear prominent in any organization chart. By just about any other criterion, though, this is one of the most important roles in the company. The role demands a high degree of responsibility, a complex set of interpersonal and technical skills, and an ability to respond deftly to the client’s rapidly changing needs.
Identifying and quantifying the value of the most important roles in an organization is a central step in matching talent to value. These critical roles generally fall into two categories: value creators and enablers.
Value creators directly generate revenue, lower operating costs, and increase capital efficiency. Value enablers, give support functions like cybersecurity or risk management, perform indispensable work that enables the creators. These roles are often in counterintuitive places within the organization. Typically, companies that consciously set out to pinpoint them are most possibly maximizing the chance to connect talent with their opportunities to create value.
Getting the best people into the most important roles does not happen by chance; it requires a disciplined look at where the organization really creates value and how top talent contributes.
Written by Nwamaka Ajaegbu, First published in NextGen, a weekly newsletter of SBI Media Limited.