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IF businesses managed their money as carelessly as they manage their people, most would be bankrupt.
The reality is, no good people, no money. The great, enduring companies of the world such as GE, Unilever and Novatis didn’t become and remain great by accident. They did so, in part, by dispelling the myth that judgment of people is a “soft” art.
The authors, Conaty (former GE head of HR) and Charan (a top-end consultant) call these companies “talent masters.” GE holds three sessions each year for the review of their top talent where evaluations are rigorous and the usual buzzwords “talented”, “a strategic thinker”, “innovative” are replaced by observations and facts.
Their performance, promotability and developmental needs are analysed with a seriousness reserved only for finances.
GE corporate university’s most striking difference is that 80% of those teaching the managers are themselves senior managers.
Few companies would dare do this for fear that the lecturer’s credibility would be questioned. Teaching also provides senior managers with an opportunity to observe and spend time with the upcoming talent.
Hindustan Unilever excels in their commitment to the development of young talent by the most senior executives. They believe that this is valuable enough to warrant five or six meetings every month! Effective use is made of mentoring with written reports to the mentee after each session.
Mentors are evaluated by the mentee and if found to be adding little value or being inaccessible, will find they have reached their career ceiling.
Norvatis instituted a tough programme of self-discovery and self-understanding for, amongst others, research laboratory heads. The intention was to strengthen cooperation among people, teams and departments and this requires both an understanding of oneself and the impact one has on others.
This book is valuable because there is nothing stopping us doing the same.
Readability Light ---+- Serious
Insights High -+--- Low
Practical High ----+ Low
(Ian Mann of Gateways Business Consultants works internationally on leadership and strategy.)