Mentoring and developing the talent in your organization is one of the most lucrative activities you will undertake. This is because as Laurie Bassi and Daniel McMurrer put it, “For many companies, employees are the only source of long-term competitive advantage.”Â
When researchers talk about measuring the return on Human Capital Management (HCM), they’re talking about the impact these mentoring and talent development activities have on the bottom line today and the profit outlook for the future.
Businesses go under every day because of lost battles with cash flow that spring from poorly performing teams. Turnover brings the cost of training, resourcing, and workload maneuvering. During the transition, many companies see dips in customer satisfaction, employee retention, and recruitment. Innovation takes a back seat to survival, and the net result is year after year your company doesn’t reach its potential.Â
Like living month to month on a tight paycheck, your company’s competitive advantage is vulnerable to mistakes, missed opportunities, and sub-par performance. Instead of stabilizing and expanding existing successes, your team keeps going in the ring to fight for a dwindling pool of half-satisfied customers.Â
Stabilized workflow, consistent performance, and innovation toward growth won’t happen in an annual seminar. The kind of finetuning required to unlock the potential and excellence of your team happens in the trenches of daily work.Â
Here's how the QLT framework would help you Guide and Course Correct:
- How to utilize tools like regular C-squared roundingÂ
- How to provide supportive coaching to get to the root of issues, set expectations, and create an action plan to course-correct
- How to adjust processes, resources, or responsibilities as needed through course corrections to set the employee up for success