Being a Leader Means Managing Talent

By: First Union | Date:

business-strategy

Being a Leader Means Managing Talent

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A recent survey showed that less than twenty percent of CEOs believe that they have the right kind of talent on their team. However, when it comes to those team members, it is about helping them to develop that talent and thus bring out the best in them. Below are four strategies for cultivating talent and in the process, becoming a stronger leader.

1. Put leadership-development programs in place

It often happens that employees do take other positions and consequently leave. Then you're left scrambling to find a replacement. This shouldn't be the case—you should have talent ready to go. With leadership development programs you not only train your employees and prepare them for future management and supervisorial roles, but you are also demonstrating that you believe in them and their potential.

2. Train managers more efficiently

Yes, your managers may have gone through a training program to get where they are, but where they also trained to be coaches? Managers need to be able to assist in the development of talent. They should be able to take an employee and foster their professional growth through coaching and potentially mentoring.

3. Be more creative in your methods

It's not solely about training programs either. Nurturing talent can be approached in a multitude of ways. From dispensing articles to watching TED talks as a group to having everyone read and then discuss a motivational book for example—these are all effective ways to address potential weaknesses or gaps and thereby further help employees along.

4. Reward development

Everyone likes to be recognized for doing a good job. So when an employee does stand out, when they do dynamically complete a project, whatever the circumstance, make sure you take notice. They will be inspired to do, even more, rise to greater heights the next time. Not to mention, this helps motivate the other members of your team as well.

We love working with companies who understand how to nurture talent. First Union Lending is here to partner with you for whatever project you may have coming up. Call today to see what business loans might suit your firm's needs.

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