As we head deeper into uncertain economic times, business leaders are reflecting on how to weather-proof not only themselves, but their organizations from the storm. It is times like this that the strong will survive, and ultimately thrive. Being proactive about how you handle all aspects of your business, from customer service and support, financial management, inventory, to your talent management initiatives is imperative. All these factors play an important role in your success. With so much focus on the day-to-day operations of your business, many leaders fail to recognize that developing and retaining talent will become an increasingly urgent priority. This priority will only be accentuated in the case of MVPs (Most Valuable Performers), the 5% to 10% of people at the top of the talent pyramid who deliver extraordinary value to the organization — in many cases, two to three times more value than their less gifted colleagues. They are the heart and soul of your organization and are an essential part of your survival and success strategy. How are such people best developed? How are they best retained?

The questions are closely related, since one of the surest means of retaining MVPs is to provide them with opportunities for career development and challenge. In large part, retaining MVPs is a matter of developing them. In response, a number of successful organizations are pioneering comprehensive approaches to developing MVPs and High Potentials that integrate coaching with formal training and planned on-the-job experience.

Coaching the MVP- A Strategy for Long-Term Success

Here are some real-world approaches that have been successfully pursued by many organizations. The approach involves five central elements, all of which can involve coaching to a greater or lesser degree.

Assessment and Development Plan Creation

Integrated MVP development programs invariably begin with formal assessments and the creation of a far-reaching development plan. MVPs need to be identified using standard or customized assessment tools, and development plans must be prepared to address needs revealed by assessment.

Formal Training

Almost all integrated development programs for MVPs involve formal training that goes well beyond assessment and development planning. It can involve instruction in such topics as company values, strategy, client needs, leadership, technical skills, and functional skills, to name just a few. They are unique and customized to the individual's specific needs.

Action Team Learning Projects

As the name suggests, MVPs work together in teams on a set project that can last as long as several months. The purpose is twofold: to set some of the organization's most talented people to work on tasks of real importance for the company and to provide MVPs with experiences that will contribute to their professional growth.

Coaching

Coaching can play an important role to support individual MVP development. In fact, coaching is better able to focus on the MVP's specific needs and to concentrate on long-term success. It is often used in targeted ways to help prepare the MVP to meet particular company needs.

On-the-Job Development

As part of an integrated plan, on-the-job development typically entails exposing MVPs to a carefully designed program of job experiences. This can involve setting MVPs to work on a succession of projects or placing them in a succession of jobs that broaden their thinking and competencies.

Give your MVP talent strategy some thought, particularly in light of the uncertainty that we are facing and the challenges before us. A comprehensive development program integrating coaching offers numerous benefits for both MVPs and the organizations that employee them. Development provides MVPs with better business and leadership capabilities and makes them more adaptable to the accelerating rate of change. Organizational benefits can include increased productivity, lower turnover and stronger overall business results. The investment you make in your top performers will manifest itself in a variety of success and create a true win-win for everyone.

Jeff Moffatt, Vice-President, Client Services

Right Management

To contact Jeff, e-mail jeff.moffatt@right.com or call 613-230-1311 ext. 234

Right Management is the leading global provider of integrated human capital consulting solutions. We offer much more than advice. We partner with our clients to help them achieve sustainable business results. Our four areas of expertise include talent attraction and assessment; leadership development; employee engagement and alignment; and career transition. Right Management is a wholly owned subsidiary of Manpower Inc.

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