The Value of Talent
By: Dennis CareyGoogle “talent” and within three seconds you will be connected to 154,000,000 results. Since the Merriam-Webster dictionary is number one, let’s begin there: “the natural endowments of a person, a special often athletic, creative, or artistic aptitude. Also, general intelligence or mental power: ABILITY.”
Athletic talent is mentioned first because it’s obvious: Who can dispute the talent of a Tiger Woods or a Michael Phelps? Success in athletics is defined in precise terms: a scorecard of records, competitions won, and records set and broken.
Executive talent is a little harder to define, but you know it when you see it.
As an executive recruiter, I have interviewed and assessed over 1,800 executives in the C suite and board room over 20 years. By definition, CEO and board candidates are outstanding individuals. They have already accomplished a great deal. The question is how the alchemy of the candidate’s considerable talent can mix with the corporate culture and existing leadership to bring the firm to the next level of success.
Talent is a combination of attributes. Candidates for senior level positions are highly intelligent, well-educated, mature and experienced. Generally, they exhibit strong leadership skills, have a capacity for self-reflection, receiving feedback and making changes. The best have a strong moral compass, passion as well as grit and determination.
Talent is unique, particularly in defining the combination that is right for an organization. In these tough economic times, it’s important for investors to recognize that talent needs to be retained to make a company successful. I’ve never heard of an organization failing because of a surfeit of talent. But we have seen companies fail because of a lack of leadership talent.
I hope investors and management keep the value of talent in mind as we manage through these tough economic times.