Recognize This! – Research shows talent deployment matters more than the raw amount of talent. One effective strategy is to encourage talent networks through social recognition.
The war for talent is most often described in terms of a company’s ability to attract and retain employees with the highest levels of productivity and/or the most potential.
An assumption of that “war”- given that talent is a scarce resource – is that the company with the most talent will be successful. Recent research has tempered some of that assumption, taking a closer look into how talent actually relates to organizational success.
Summarizing some of that research on the Compensation Cafe, I wrote about how the “deployment” of talent matters much more than the raw amount of talent. Highly successful companies differentiate themselves from average companies by clustering their talented employees around critical functions and roles.
I went on to discuss some of the potential implications of that research. One explanation of why clustering is effective can be summarized as follows:
“Teams and networks of talent drive success. When talented employees are clustered around critical areas, there are more opportunities for those networks to grow, for collaboration to occur, and for relational ties to strengthen. If one talented employee can have a large impact on a core area, then the impact of a team of talented employees might be exponentially greater.”
These internal “talent networks” can be a critical factor in ultimately driving success, particularly when they are cultivated and encouraged through human-centered technologies.
Social recognition is one such solution that can help an organization to deploy its talent in networks, especially when paired with complementary practices like continuous conversations, coaching, and feedback.
Recognition moments themselves serve to strengthen the relationships and collaborations between talented employees, as they work across functions and areas to do the critical work of the organization. The data and analytics provided by a social recognition platform offer leaders visibility into these networks in real time. They can pinpoint where interactions and collaborations are having impact, through existing teams as well as less formal collaborations that would otherwise be hidden from view.
How does your company empower talented employees to connect and succeed?
About Derek Irvine
The VP of Client Strategy and Consulting at Globoforce, Derek Irvine is one of the world’s foremost experts on employee recognition and engagement, helping business leaders set a higher vision and ambition for their organizations. As a renowned speaker and co-author of "The Power of Thanks" and "Winning with a Culture of Recognition," he teaches companies how to use recognition to proactively manage company culture. Derek holds a B.Comm and Masters of Business Studies from the Smurfit Graduate Business School at University College Dublin.