Chances are you may not have heard of the term “Talent Optimization”, but this may be one of the most important concepts when it comes to developing your company’s culture. Talent optimization is a four-phase discipline that links your company’s business strategy, people strategy, and business results. The goal? To build a strong company culture that people will want to be a part of, allowing your organization to recruit and retain the best talent, while executing your business strategy, and consistently achieving your desired results.
The Talent Optimization Process
By successfully implementing a talent optimization strategy you are unlocking the human potential inside of your organization through the alignment of talent, culture, and strategy.
This remarkable competitive advantage will provide a boost in productivity and flexibility. You will find that you can efficiently connect business strategy to business results when the right people are in the right seat, and they are empowered to execute the strategy.
According to the Predictive Index State of Talent Optimization Report for 2021 only 55% of businesses surveyed had a talent strategy in place. While 98% of teams in talent optimized companies found they were able to work together and efficiently solve the challenges they faced throughout 2020. This helped bring much-needed stability to many companies who faced a new virtual work environment and many other logistical challenges of conducting business with remote teams. Given the current environment, many forward-thinking businesses are now making talent optimization one of their top priorities in 2021.
Talent Optimization consists of four phases: Design, Hire, Inspire, and Diagnose. This blog series will do a deep dive into each of these disciplines and how they can benefit your company when properly implemented.
The Four Phases of Talent Optimization
Here is a high-level overview of what to expect in the next several blogs in this series.
- Design Phase – helps businesses map their business strategies to the organizational structure and teams they currently have in place. It helps leaders understand their teams’ current strengths, and potential blind spots. In the Design phase we will unpack the concept of “who’s in the room, who’s in the building, and who’s on the street”. These tools and concepts help leaders at every level identify and solve the talent challenges that often get in the way of building high performing teams.
- Hire Phase – helps companies evaluate and better understand the people they are looking to bring into their organization, ensuring they are the right fit for the company’s culture, and the job they are being considered for, before making a hiring decision. In the Hire phase companies will create job profiles based on data from other high performers already in the organization. Utilizing behavioral and cognitive assessments, organizations can quickly evaluate potential new hires, and create interview guides to help the hiring manager ask probing questions that will explore job and cultural fit for the specific candidate being evaluated.
- Inspire Phase – can best be described as the “coaching phase”. This helps both team leaders and individuals work on improving communication and awareness. In the Inspire phase, individuals and teams can see how they fit into the organization, and how their job or team contributes to helping the company execute its strategy and achieve results.
- Diagnose Phase – is your feedback loop. In this phase companies measure employee engagement through an anonymous survey. The company receives granular feedback about the organization, providing insights into areas they are excelling, while uncovering opportunities for improvement.
Using these four phases, in conjunction with and expert in talent optimization, provides companies with a defined and iterative approach for unlocking the human potential inside their organization. By establishing a consistent feedback loop to evaluate their “people” metrics, while living a “get better” mindset, companies will not only see improved employee engagement, but will also see an improvement in organizational efficiency.
Let’s Get Started
To help companies unlock the human potential inside their organization JACO Advisory Group has partnered with The Predictive Index to aid businesses on the path to talent optimization. Predictive Index™ is a scientifically valid, EEOC compliant, tool that provides behavioral and cognitive assessments which provide remarkable insights into the natural behaviors of your employees as well as new hire candidates. These insights show leaders at every level how they can guide employees, providing motivation which will help them do their best work, while aligning their interests with the business’s strategy. All of this will help create a common language for your organization, enhancing cooperation, productivity, and flexibility for your business.
Want to see how talent optimization can give your business a competitive edge? Contact us to schedule your 1:1 Talent Strategy Session. This 90-minute virtual talent strategy session will provide you with valuable insights on how you can utilize talent optimization to build “dream teams” within your organization. This strategy session is designed for senior leaders that are looking for ways to unlock the human potential inside their organization.
What you will learn…
* YOU – Your leadership style and preferences.
* YOU + OTHERS – How you work with others.
* YOU + OTHERS + WORK – How you lead teams to execute on strategy.
About JACO Advisory Group
JACO Advisory Group (JACO) is a management consulting and advisory firm, specializing in growth strategies and transition planning for mid-market, closely held, and family-owned businesses. We help clients with strategic planning, business development, operational performance, talent optimization, succession planning, and restructuring & turnaround management.
Our team’s collection of experiences provides us with a variety of tools to help our clients develop and execute the strategies they need to maximize value for all the stakeholders of the business. We provide strategic leadership and seamless management of all engagements from kick-off to completion. JACO partners with and becomes an extension of every business we have the privilege of working with ensuring that your needs will be met, and your company’s values honored. To learn more about JACO Advisory Group, visit www.jacoadvisorygroup.com