That’s a question I always ask clients. Quite simply, if you haven’t you can’t expect to be sustainably competitive or to achieve outstanding growth.
How do you know you have the right people?
A good place to start is by rating your key people, on a scale of 1-10, where 10 is outstanding. What determines “outstanding”? Well that depends on your standards and expectations, but it would normally mean they are not only very competent in the role, but they also consistently exhibit the behaviours that are at the heart of your culture and display the leadership qualities that best encapsulate what you want for your business.
If any of your key people are not at 8 or above, that should trigger urgent consideration on your part as to whether or not they are coachable to the level you need. If they are, then you can develop and implement a plan to make it happen – and if you are not sure how to go about that, then get external help from a high performance development coach. If you conclude they are unlikely to make the grade then your action plan is more direct – prepare to find their replacement.
A further, complementary test is for you to consider this scenario: if you had to fill that role tomorrow, would you hire the person currently in post or look elsewhere? If your answer is to look elsewhere then you know you need to take action.
I have used both tests with clients to great effect. Quite often, it’s the trigger for them to commit to actions they have been putting-off for too long. Don’t fall into that trap – it can become a serious cost to your business.
Jack Daly, a US-based entrepreneur and highly successful business leader says, from his various experiences – including building a financial services company from 3 employees to over 750 in 18 months, “the most expensive time in your life, as a manager, is the time between when you truly lose faith in someone who works for you and when you actually do something about it”.
The right people in the right roles are the catalysts for change, the exemplars of your culture and standards and the ones that energise and motivate everyone else.
