How To Hire The Right People And Set Them Up For Success

In the new book, Talent: The Market Cap Multiplier, you’ll discover how seven companies from around the world reinvented the talent management process to become better functioning companies and talent engines that drive impressive growth.

Dig into Talent to learn the case studies of Johnson & Johnson, Hemnet, Argus Media, HireRight, Vishal Retail, Depop and Oak Street Health.

Authors Anish Batlaw and Ram Charan provide you through these case studies a guide for how to take a data driven approach and playbook to identifying, hiring and investing in the right people, placing them in the right roles, and then setting them up for success.

Anish Batlaw

Ram Charan

Batlaw and Charan share these insights with us:

Question: How do you identify, recruit, and support high-performing executive talent?

Batlaw & Charan: We start by developing a scorecard that captures outcomes we expect the incumbent to deliver over 18-30 months as well as the key competencies and experiences the incumbent will need to be successful. It’s critical that the scorecards be very specific and not include vague terms like “curious” or “very smart,” which are too generic.

We source candidates through our Talent Bank (which is our repository of vetted execs in the cloud) and quite often work with our preferred search partners.

Candidates are interviewed by a panel and referenced extensively. During reference checks we like to validate the experiences and achievements that candidates highlight in the interview, and which gives us confidence in their ability to hit the scorecard.

Question: What are the most important things to look for in a candidate when selecting a CEO?

Batlaw & Charan: Track record of success that is relevant to the company’s aspiration and strategies. Demonstrated potential to learn and adapt. You need to consider not only what a candidate did, but how, in great detail.

Set Direction: Clear and compelling vision; make decisions with speed and conviction.
Keep Customers at the Core: Immerse into the customer’s experience and always consider customer satisfaction and retention.
Build and Energize Organizations: Lead with integrity. Build “A” teams and make tough decisions. Build a culture of extreme collaboration.
Drive Execution: Prioritize and align resources and drive radical accountability. Integrate Strategy, Talent, and Operating Plan

Question: How has the pandemic affected companies getting the right leadership team in place to reach the company’s growth goals?

Batlaw & Charan: The standards on how to lead in these uncertain times is much higher than ever before. At the same time the demand for talent has accelerated in the context of the “great resignation.” This has created the perfect storm!

Question: Why is it so difficult for companies to recruit the right leadership team?

Batlaw & Charan: Companies need to develop leadership teams in the context of the long-term strategy and outcomes expected.

Hiring and development plans need to be rigorous, and data based; and one needs to be highly disciplined when executing critical talent initiatives.

Talent reviews (quality and quantity) need to be tightly integrated into the Operating rhythm of the company. Most companies pay lip service to this practice. It needs rigor. If businesses review financial plans on a monthly basis, they should be reviewing the talent plans on a monthly basis as well. By creating a rhythm around “talk talent,” companies should ensure that “A” players are in the most critical roles. They should also continually recalibrate if the leadership standards align with the business challenges.

Thank you to the book’s publisher for sending me an advance copy of the book.

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