CEO’s and even Board members are often frustrated with their organization’s need to externally fill key positions. Statistics reveal that the likelihood of making a successful hire is dramatically low:
- 58% of the highest-priority hires hired from the outside fail within 18 months (Source: Michael Watkins).
- 66% regret their interview-based hiring decisions (Source: DDI)
We at The Bailey Group have heard and observed from top executives and their organizations…here are the top 8 reasons companies don’t have Ready-Talent:
1) We actually don’t know what we want and what ready-talent looks like. How much know-how, experience, exposure, skills and behaviors are needed to predict success?
2) We don’t know what we have in terms of talent. We know people’s pedigrees and expertise, but don’t know how they will fare in senior positions nor understand their versatility to lead outside their primary discipline.
3) We aren’t identifying people early enough in their career to grow and shape them before bad habits set in. Later, it’s almost impossible to get people to move laterally to obtain needed experience.
4) We haven’t identified strengths and gaps nor have we done much about it. Correction: We haven’t engaged the leader in taking charge of their career and their development.
5) We’re waiting for a development program or funds when the best learning laboratory (day-to-day challenges) surrounds us.
6) We aren’t delegating, providing necessary exposure or tough decision making experience. It’s a vicious cycle – we don’t think they’re ready so we hold back, preventing them from getting ready!
7) We are hesitant about promoting them and not sure why. Being honest, we realize that they lack confidence or executive presence or exhibit idiosyncrasies that we are afraid to discuss.
8) We truly didn’t hire all the right people in the first place. They’re lacking the potential to stretch one or two levels up. We hired to the job requisition and the skills solely for the position at hand.
Ready talent is achievable! The Bailey Group is partnering with committed organizations to help them make successful hiring choices and to build their pool of “Ready Talent.” 763-545-5997
763-545-5997
Top Eight Reasons Organizations Lack “Ready-Talent”
CEO’s and even Board members are often frustrated with their organization’s need to externally fill key positions. Statistics reveal that the likelihood of making a successful hire is dramatically low:
We at The Bailey Group have heard and observed from top executives and their organizations…here are the top 8 reasons companies don’t have Ready-Talent:
1) We actually don’t know what we want and what ready-talent looks like. How much know-how, experience, exposure, skills and behaviors are needed to predict success?
2) We don’t know what we have in terms of talent. We know people’s pedigrees and expertise, but don’t know how they will fare in senior positions nor understand their versatility to lead outside their primary discipline.
3) We aren’t identifying people early enough in their career to grow and shape them before bad habits set in. Later, it’s almost impossible to get people to move laterally to obtain needed experience.
4) We haven’t identified strengths and gaps nor have we done much about it. Correction: We haven’t engaged the leader in taking charge of their career and their development.
5) We’re waiting for a development program or funds when the best learning laboratory (day-to-day challenges) surrounds us.
6) We aren’t delegating, providing necessary exposure or tough decision making experience. It’s a vicious cycle – we don’t think they’re ready so we hold back, preventing them from getting ready!
7) We are hesitant about promoting them and not sure why. Being honest, we realize that they lack confidence or executive presence or exhibit idiosyncrasies that we are afraid to discuss.
8) We truly didn’t hire all the right people in the first place. They’re lacking the potential to stretch one or two levels up. We hired to the job requisition and the skills solely for the position at hand.
Ready talent is achievable! The Bailey Group is partnering with committed organizations to help them make successful hiring choices and to build their pool of “Ready Talent.” 763-545-5997