It’s no secret that the success or failure of any modern company is driven by the quality of its people. This was the basis for the “War for Talent” concept developed by McKinsey and Co. in the 1990s. But the “war” has since evolved into a new endeavor, as a mission to not only obtain but also retain that coveted talent.
A stellar recruiting philosophy is no longer enough. To ensure success — especially in a highly competitive industry — a company must have measures in place to continually cultivate, challenge and satisfy its most promising talent.
Determine skills beyond paper qualifications
Education and experience are often viewed as key determinants of a candidate’s ability to perform a job. It is also imperative, however, to define personality traits and unique skill sets that will work well within an organization’s culture and business model, and that will allow the candidate to thrive once hired.
For example, creativity, adaptability and a passion for in-depth problem-solving are characteristics that, while not always immediately apparent on a resume, may be a key factor in the difference between a good candidate and a great one.
Defining these more abstract qualifications for your particular company and developing an interview technique to screen for them is no doubt a difficult endeavor. But it is also one that will pay off exponentially.
Customize each challenge
Often, high-potential employees are underutilized in roles that don’t best suit their particular strengths and/or personal motivations. This can lead to frustration for all parties involved.
Instead of collecting talent for talent’s sake, it is critical to analyze a star performer’s best fit within your organization.
In any industry, there are an infinite number of problems to be solved or processes to be improved upon. These can be customized to best suit each individual. The right breed of talent craves this kind of challenge, and will find tremendous satisfaction in the pursuit of a tailor-made goal.
Create opportunity ASAP
Newer talent is particularly sought after in highly competitive industries. It is extremely important to nurture these individuals, and to provide coaching and other educational opportunities. Team structure can play a pivotal role here.
Pairing new talent with more senior team members is a great way to further the new hire’s education while also exposing senior members to a different, fresher approach. Immediately providing this kind of guided opportunity for new talent helps them to develop relationships within the company, find mentors and ultimately become more engaged with and committed to the company for the long term.
Set the stage for greatness
Identifying and developing employees’ strengths and customizing challenges to capitalize on their unique skill sets creates the opportunity for greatness to be achieved. The desire for greatness and belief in its possibility will not only lead to professional fulfillment, but also to groundbreaking solutions that can transform a company. Productivity will abound, and satisfaction for both the individual and the organization will inevitably follow. ●
Name: Misha Malyshev
Title: CEO and founder
Company: Teza Technologies
Teza Technologies is a science- and technology-driven global quantitative trading business. The company is headquartered in Chicago with offices in New York and London. Misha earned his doctorate in astrophysics from Princeton University in 1998.
How to reach: Teza Technologies, (312) 768-1600 or www.teza.com