Are you confident in your talent evaluators?

by Michael on June 22, 2010

And with the 1st pick….

The NBA draft is around the corner and it’s time for the talent deficient to pay large sums of money to add young talent to their organization. Ultimately, organizations are investing this money based on the “skillful” evaluation of talent from scouts and the general manager within the organization. There are many parallels between the draft and the employment market in general. As an executive of a company or NBA team, below are some questions you must ask yourselves:

YES/NO:

1)      Are we confident in our talent evaluators?

2)      Do we have the right coach in place to get the most productivity out of our new addition?

3)      Have we carefully vetted the potential candidate pool to figure out the best fit for our organization?

If the answer to any of the above questions is no, then perhaps its time you re-evaluate who you are letting shape the future of your franchise or company.  Some metrics you can use to evaluate your current process for your company include: turnover rate, percentage of new hires who end up being “A” players and cost per hire.

As our economy continues its shift into a knowledge based economy, several trends have emerged. Principal among those trends that has gained increased traction is the use of generational specialist to identify, engage, and lead individuals within their generational class. For example, millennials (big buzzword I know) have a certain preference in terms of how they are recruited and managed as compared to baby boomers. Is your firm utilizing a one-size fits all model or are you working with specialist?

Much like an NBA team has college scouts, European scouts, and professional scouts your firm should model themselves after the best NBA franchises (think Spurs, not Grizzlies). After all, the company or teams that are best at evaluating talent usually end up on top. As John Wooden noted, “Failure is not fatal, but failure to change might be.”

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