Lisa E. Peternel, Operational Risk Management Expert, on How Business Leaders Can Be Champions of Talent

Business News

Lisa E. Peternel discusses the benefits of identifying and developing the talent in your office.

When business leaders are trying to improve their company’s overall success, it’s necessary to focus on the employees. Identifying and developing the talent in your office is a key component of building your workforce of the future. 

The skills needed to thrive in today’s economy are diverse and ever-changing. Employees are expected to have the perfect balance of hard and soft skills, but no one will thrive without guidance. This is why business leaders should feel obligated to be champions of talent. This means it’s not enough to just find and hire the right talent. It’s also important to cultivate the skills that empower employees to deliver best-in-class results daily. 

Encouraging Mentoring and Coaching Opportunities

A great mentor can be a highly influential person in someone’s professional life. This is especially true for those who are new to the workforce. Cultivating a relationship with a mentor or coach can be intimidating, so there is a recent trend toward companies facilitating the relationships in hopes of encouraging professional development from one generation of workers to the next.

Clearly Identifying Performance Metrics

An employee will only do their job well if they know exactly what is expected of them. This can help them identify which areas they’re thriving in, as well as any areas they need to work on. Once specific performance metrics are met, managers can raise the bar so their employees are consistently accomplishing key performance objectives that can prepare them for future opportunities, ideally within the company. 

Creating Individual Development Plans

When trying to develop the skills of your employees, the first step is realizing that each individual brings something different to the table. They also have different goals for themselves, even if many are currently performing the same job. Because of this, each person needs an individual development plan so they know which activities will help them achieve their career goals. A detailed blueprint with a realistic timeframe can do wonders in helping an employee feel empowered in their career development.

Providing Constructive Feedback

In order for a professional to grow, they must have an accurate idea of areas that require improvement. Receiving feedback shouldn’t be a negative experience for your employees. Instead, it should be seen as an important step in their professional development, allowing them to improve consistently. 

Leading by Example

Business leaders sometimes forget that the way they present themselves to their employees can hold a great deal of weight. When leadership is continuing their own personal and professional development, employees can see that development is part of the company’s culture. For employees who are constantly searching to improve themselves, this can be seen as a benefit of staying and developing their skills with your company.

Thrive Global

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