Thursday, September 29th, 2022

Continuously Developing Great Talent

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Leadership/Management Development System: Developing Talent

Continuously Developing Great Talent
Overview:
The complex process of management is simplified when you realize that you manage things (money, information other hard resources) and lead people. The art is to understand how to use management information as a leadership tool for continuous growth and development. Ultimately, it is a tool for your managers to become self-managed and to identify problems and turn them into opportunities or to identify and maximize opportunities. In great organizations this becomes a basic form of mutual understanding- the goal of all communication. In family businesses it is essential to have objective means of measuring performance.

The closed loop- using management information for development and growth

The necessary ingredients: determine where you are going, how to get there, how to remain on task and how to recognize that the task or goal is accomplished and the quality of the achievement
• How to set goals that are meaningful
• How to measure goal achievement
• How to develop action plans to achieve goals
• How to development of feedback systems
• How to use feedback productively to positively promote growth and learning
• How to conduct an intervention or a review of progress toward goal achievement

The Closed Loop System is the basis for measuring performance and continuous improvement. By implementing this process, any manager will increase their effectiveness as a leader.

The Closed Loop Process: A process of continuous improvement

So in four easy steps, here is an explanation of how the Closed Loop Process can provide your organization with a way to continually improve and continually move closer to its ultimate vision.

Step 1:
Develop your action plan
• Establish quantifiable objectives and obtain agreement on those objectives
• Set the timetable for achievement
• Develop the key methods or actions to reach all objectives in logical sequence
• Define early feedback (check-points on progress)

When you develop the action plan with all these elements, you’re beginning to avoid the trap of Management By Crisis (MBC). MBC is when all you do is continuously bounce between action and results, putting out fires in reaction mode. Without the ability to plan, meet a timetable and reach objectives, reaction management rules the day. Certainly, without an action plan there is no opportunity for continuous improvement.
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Step 2:
Take action: To make things happen, action needs to take place. Most successful owners are excellent at taking action. Instill in your management team the need to act every day in ways that will bring the company closer to those agreed upon goals and objectives.

Step 3:
Deal with the results of actions: What you do with the results of your actions is critical for creating an atmosphere of learning and continuous improvement. Managers and leaders are developed in the next step as they learn to think critically and engage team members to recognize not only success, but also problems.

Step 4:
Evaluate, adjust and continue: Here’s the key to leadership. Compare what you planned to have happen (from your action plan) with the feedback from actual results. First examine what worked well in your plan and what adjustments you made consciously to your plan when implementing. Then review what in the plan did not work or was not implemented. Finally, sum up key points from what worked well, as well as what did not, and decide on what you will reinforce because of its positive impact. Decide what changes you will implement to make your plan and results more favorable. This is the same process we used in training and would be the same process used for formal performance reviews. Understand and implement the Closed Loop Process and you will become a better leader and developer of talent.

The closed loop process engages people and provides an opportunity for people to be appreciated. It is human nature to want to be a valued part of an organization and be part of a learning and growth environment. A simple reproducible leadership-management process like the Closed Loop could transform your organization.

Once you understand this process it can be adapted to formal and informal performance reviews, as well as, training new and experienced staff. This is a basic skill for all people in leadership positions.

Interested in learning more leadership/management skills request our EBook- “Secrets of How to Build A Great Organization” by emailing bclinton@businessness-wise.com include you name, company and position and you will receive your free copy loaded with leadership information. This is a must read if you are a business owner!

Comments

One Response to “Continuously Developing Great Talent”
  1. admin says:

    I am glad you enjoyed this article on developing talent. Please continue to read and feel free to add personal stories concerning applications of sound practices in developing talent.

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