What Are Your Talent Vulnerabilities?
March 29, 2019 at 12:00 AM
by Katalyst Group
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Earlier this year at an impromptu team gathering, a story made all of us sit up and take notice. 

During a colleague’s planning meeting at Spanx, the team was asked, “What could a competitor do to put us out of business?” Despite all the potential answers, the team landed on the same conclusion: They could steal our Head of Product Development.

The biggest threat to their success was not losing a client or customer, but a critical team member. We see that reality in action with our clients every day.

And, last month at the eTail West conference in Palm Desert, a session moderator asked the room, “How many of you plan to be at your same company in 5 years?” In a group of 2,000+ mid to senior level professionals, only 20% raised their hands. So, the thing most disruptive to your business might not be a new SAAS or technological innovation; after all, how would your business fare if 80% of your employees left over the next five years?

We’ve heard the mantra – our people are our most valuable resource. But are we taking that to heart and nurturing our internal teams, or are we more focused on attracting external talent? 

Your best talent strategy comes from first unearthing your vulnerabilities, and you can’t be afraid to ask the tough questions. Wouldn’t you hate to lose someone because you were an absent landlord?

It’s time to really think about your existing team –

1.      Who do you know is frustrated?

2.      Who don’t you want to lose?

3.      What conversation do you need to have that you’ve been avoiding?

4.      Are there any culture vampires?

5.      When’s the last time you had lunch as a team?

6.      When’s the last time you gave positive feedback?

7.      Who needs a vacation?

This isn't for the faint of heart - make an honest assessment of your talent. Invest in the individuals you can’t afford to lose. If your people are truly your most important asset, what kind of TLC do they need?