CFOs Discuss Talent Management Strategies
A recent panel discussion at an Argyle Executive Forum conference for CFOs revealed insight into talent management. Among the participants were:
• Bruce Nolop, a retired CFO and the panel discussion's moderator
• Cliff Lange, CFO, Boston Mutual Life Insurance
• Carim Khouzami, CFO, Baltimore Gas and Electric
• Mark LeClair, Senior Vice President, Volt Consulting Group
• Frank Boykin, CFO, Mohawk Industries
These finance executives shared a great deal of wisdom. Highlights included a discussion of what Cliff Lange calls the "four I's of talent management" which are: intellectual skills, intensity, interpersonal skills, and integrity. Lange listed the I's in reverse order with intellectual skills representing the starting point. ". . . similar to learning how to skate for a hockey player," Lange explained. He said that integrity is the first and most important I on his list because an employee could be extremely smart, intense, hard working, and get along well with others, but if that employee lacks integrity or isn't trustworthy, that would hurt the business.
Another talent management theme involved keeping employees engaged by rotating them in different positions. Carim Khouzami said that Baltimore Gas and Electric rotates its employees, pushing them out of their comfort zones. He said it makes for well-rounded employees who are excited about work and the opportunities offered to them.
Frank Boykin chimed in, saying that one of his divisional CFOs moved into sales (at the vice president level) and another moved from financial planning and analysis to operations. Lange said that if you let people shine and use their strengths while downplaying any weaknesses that aren't holding them back, employees won't leave – even for a job with better pay or a more impressive title.
The panel also discussed the economy's affect on talent management. Boykin said that Mohawk Industries has placed more emphasis on communication and now holds quarterly global conference calls. Lange said he tells his team that they get to choose to be an innovator, early adopter, late adopter, or resister (in the face of change) and then presents the opportunities that are available for the innovators and early adopters.
Another discussion centered on developing soft skills such as interpersonal skills. Boykin said his group uses mentoring and occasionally professional coaching. Khouzami likes to include junior workers in meetings, exposing them to how senior employees conduct themselves as much as possible.
As far as the use of behavioral assessment tools go, some panel members use them, some don't. Khouzami made it clear that tools are just that, tools, and that they don't have the final say in the decision. Lange prefers to ask candidates a series of revealing questions to get insight into behaviors, interpersonal skills, and integrity.
These are but a few highlights of the panel discussion. Keeping Lange's four I's (intellectual skills, intensity, interpersonal skills, and integrity) of talent management in mind during the hiring process could be a winning strategy.
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