Underperforming companies spend more on human resources per employee than top talent management organisations Equally staggering are qualitative costs: • Disruption Replacing and on-boarding takes the focus away from the business, leading to missed opportunities, poor execution, lack of direction • Uninformed decision making Lost relevant knowledge to make strategic workforce decisions to achieve business goals • Increased business risk Wrong people in wrong positions affects business operations • Low employee satisfaction Lack of professional development processes, systems and tools leads to low employee morale • Loss of intellectual capital People take tacit knowledge, relation- ships and good will with them • Poor talent pipeline Lack of professional development and succession planning signifies the
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company is not developing the next generation of leaders internally.
LEADERSHIP AND MANAGEMENT Creating a culture that embraces an effective talent management cycle begins at the top and finding the right leaders for your organisation is paramount. The types of skills and chemistry for effective leadership vary from organisation to organisation. However, the following traits are essential for any effective leader; a deficit in any of these categories could spell trouble at some point in time: • Huge capacity for work • Clear vision • Ability to communicate and persuade • Ability to both attract and retain superior talent • Belief that it is a privilege to serve, not a right • Unquestioned integrity These traits should not be confused
with key management competencies such as physical assets, financial assets, human assets, marketing, productivity,
Dolphin Enterprises improved the entire guest experience at Dolphin Stadium in Miami by breaking it into eight separate zones
innovation, social commitment and the supply chain. In charge of each core operational competency, you want people who also place a high value on managing talent.
THE HUMAN EQUATION The world of sport is driven by human emotion, the energy of the athlete, the devotion of the fan, the thrill of victory and the agony of defeat. At the end it's all about people. The sport industry executive who
understands this and manages his/her organisation with the same level of commitment that a top coach devotes to her/his athletes is heading towards great success. l
Joe Bailey is a managing partner at US- based consultancy firm Heidrick & Struggles
www.heidrick.com
SPORTS MANAGEMENT HANDBOOK 2012 69
PIC: ©
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