Talent – One of the Greatest Keys to Success
November 6, 2019
2 minute read – In a past edition of our c. notes, we discuss the Key Competencies of a Strategic C-Suite Team. While in the c. notes we focus on 7 key competencies, in this blog we spotlight the second competency – being adept at choosing, developing, and engaging talent that supports the desired business model, positions the credit union for the future, and allows appropriate time to think and act strategically.
One of the greatest keys to success is that strategic executives surround themselves with talent they know will get the details right, so that their minds can be cleared to consistently think strategically about the business. And equally important, they take action as appropriate.
Strategic executives lack hubris. They don’t feel the need to be the smartest person in the room. Therefore, they surround themselves with smart, creative people and are laser-focused on developing and mentoring the right talent. This mindset alone has proven to be a critical step in engaging talent. They also expect that their team members lack hubris and act in the best interest of the team and the credit union.
Developing the right talent gets a lot of air time in many businesses, yet far too often action is not taken. Why? Because it is difficult and personal. One common reason – some team members who have served the credit union well for many years may not be keeping up with the new competencies and pace of change the credit union needs. Strategic executives make the gut-wrenching decisions to trade out players, timely and with respect. They recognize that by keeping players on the team who can’t fulfill their roles, they jeopardize the entire team and risk losing the talent that is really needed. Facing these brutal facts is especially important when the job market heats up.
Equally important, a strategic executive is integral in building cooperative relationships across departments, where what happens in one area of the organization is supported and enhanced by what happens in another area.
The antiquated method of siloed departments and siloed projects across departments slows progress, hinders change, and imperils the health of the whole organization. In stark contrast to prior expectations, the strategic executive engages departments across the organization and helps everyone see a clear, big picture through a blend of collaboration, communication, and teamwork.
Read to learn more about the other 6 Key Competencies of a Strategic C-Suite Team.