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The Boomer Bulletin - 2013
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Top Talent Challenges - TDA To The Rescue!

Posted By Sandra Wiley, Monday, July 08, 2013

On August 19 and 20, 2013 the Boomer Technology Circles Summit will take a wonderful twist when it adds the Talent Development Advantage (TDA) track to its agenda at this valuable annual event.  Talent in our firms continues to grow in importance and every firm attending in 2013 should have representation in this area.  Why?  Let’s take a look at the top talent challenges almost every firm in our profession is dealing with today.

1. Attraction and Retention of Staff:  We want our employees and new hires to be motivated to stay with us and grow into future leaders.  In order for this to happen, we must commit resources to training and mentoring. The crunch is upon us and it is not going away soon.

2. Generational Struggles:  Creating a firm value proposition that appeals to multiple generations is tough, especially when we are still struggling with simply understanding what each generation really wants. With four generations in today's workplace, most firms are struggling to create an employee experience that appeals to individuals with diverse needs, preferences and assumptions. How are you creating a compelling employee value proposition for the firm?

3. The Top Talent Pipeline:  One of the biggest potential threats to firms today is a lack of future leaders.   This is in part a numbers issue—the Gen X cohort is small and, as I like to say, precious. But it's also an interest issue—many members of Gen X are simply not particularly excited about being considered for these roles. In the leadership academy I teach, there is a lack of participants who have a desire to move to a partner position.  

4. Intellectual Capital Transfer:  The looming retirement of a significant portion of today’s leaders in our profession leaves many wondering, how are we going to replace their knowledge?  Client relationships, technical expertise, rainmaking capabilities and sheer knowledge of how to run the firm is hanging in the balance.  Most firms are struggling with how to make this transfer of knowledge happen.    

5. The Departure of the Mid-Level Manager:  Every firm I know has had one of their "best and brightest” leave.  Some firms are still suffering from these departures. While some mid-level managers are indeed going to other firms, many are leaving for private industry or even completely new careers.  These managers are who the firm has invested in heavily and have planned to move to higher level roles with the hope that they will be future firm partners.  

6. New Benefits for A New Generation:  Firms must re-design their strategies to attract and retain the younger staff members.  The challenge of calibrating talent management practices and programs to attract and engage our young interns and staff is critically important. The most important words to wipe out of our vocabulary are "we did not do it like that when we were getting started in this profession.”  Just two words, "move on!”

7. Creating New Opportunities for Second Careers:  Many firms are creating a workplace that is open to Boomers in their "second careers."  I am not talking about keeping partners on the payroll indefinitely, but finding creative ways to allow them to use their years of wisdom to stay productive and bring value to the firm could be a huge lift for the firm.  Age prejudice still exists, but smart firms are looking for ways to incorporate the talents of Boomers.  In many cases, this requires rethinking roles and work relationships.

8.  Developing the Professional Administrative Team:  Nothing is more frustrating to me than to hear a firm talk about their professional staff and then say, "oh yeah, and our administration department”.  The lack of knowledge for what professional Operations, Human Resources, Marketing, Learning/Training and Project Managers can do for our firms is sad. Firms that understand this really have a strategic advantage.  The development of these administrative professionals will elevate your firm and take you to entirely new levels of success.

Why should you be registering one or more people to attend the Talent Development Advantage on August 19-20, 2013 in Kansas City, MO? Just re-read #1 through #8 above!

Register Now!

Tags:  Talent Development 

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