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Why is it that smaller weaker competitors seem able to do many things better than we can? July 1

The greatest resource in any company, one that dwarfs even financial strength, is the power of its people.  When employees are involved in their organization and legitimately empowered to perform, they can evolve into a powerful competitive advantage.  Because of the unmatched potential of the human resource, it must be a paramount goal of the CEO to grow his company’s talent.  Here are some proven methods for accomplishing that:

  • By having a talent incubator inside your organization—hold on to your talented employees and find and develop more.  Just as importantly, discover the weak performers and either improve them or eliminate them. 
  • By ensuring top leaders and every manager are hell-bent on creating a “second string” that is even stronger than the “first string.”  This critical strategic objective should be included in the Business Plan as well as in each executive’s personal performance review.
  • By whenever possible, filling mid- and high-level jobs with outstanding internal talent.
  • By designing your jobs to intrigue and challenge your best performers.

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