Talent is Not Enough. You Need to be a Speed Factor.
The current challenge is to identify where you can be a ‘speed factor’ in your position, product and market and continue to build on what you have to increase your impact in a company or organization.
Every day as I walk into my office I face the dual phenomenon of calls from talented people who do not have a job and of clients who are struggling because we can’t find the right talent. There once was a time when a good sales person was a good sales person. Now when clients call us they want a good sales person but with solid product and application knowledge and proven success in a specific market or channel.
There is no way around it. Companies want people that will come in and hit the ground running. They want great talent with experience in the position, the product and the market with little room for a learning curve. It has become more difficult, for both talented people and companies to match, as each one of those elements become more and more specialized.
According to Delloite Research in 1998 the average time to market for a new product was 18.1 months and on average a company’s revenue from new products was around 21%. In 2007 the average time to market had dropped to 12.8 months and the average revenue had increased to 34%. The reliance on new products and innovation is evident in every single industry. As Jason Jennings’ book title reads “It’s not the BIG that eat the SMALL, It’s the FAST that eat the SLOW”.
Fast and the speed of having ‘been there, done that’ is currently shaping the demand for talent. Fast learning is very important, but with a strong, solid knowledge and experience base.
The current challenge is to identify where you can be a ‘speed factor’ in your position, product and market and continue to build on what you have to increase your impact in a company or organization.
Jose Ruiz is a Principal in Heidrick & Struggles’ Monterrey office and is a member of the global Industrial practice and specializes in recruiting in Mexico for US companies with a strong focus on bilingual and bicultural candidates.
Heidrick & Struggles International, Inc., (Nasdaq:HSII) is the leadership advisory firm providing senior-level executive search and leadership consulting services, including succession planning, executive assessment and development, talent retention management, transition consulting for newly appointed executives, and M&A human capital integration consulting. For almost 60 years, we have focused on quality service and built strong leadership teams through our relationships with clients and individuals worldwide. Today, Heidrick & Struggles’ leadership experts operate from principal business centers in North America, Latin America, Europe and Asia Pacific. For more information about Heidrick & Struggles, please visit www.heidrick.com
The need for speed is evident everywhere. ‘Speed factor’ is a critical dimension when evaluating new candidates but it applies equally to current team members. Talent in and of itself is never enough – results rule the day. These days everyone should focus on how to deliver better results faster.
As always, very interesting topics! I fully agree w/your article, and would only add that the “been there, done that” should not be a “check box” task, but instead talent should truly understand the drivers, the effects vs. desired outcomes, and the implications on every role so that this accelerated contribution can be delivered! With time, resources also learn how to reapply faster! An interesting thought for future reflection could be … how is company culture built to incentive a ‘speed’ behavior?
Curious… how does Apple rate in product time to market,? A big part of Steve Jobs’ success has been giving his people the leeway, space, and time to be creative and hone a product to perfection prior to release.
Suzanna
HealthQuiz.info
Agree with your observations. Also, as the talent pool is no longer exclusive of a recruiting firm and becomes readily available on a global basis, the recruiting process has to change while the talented professional faces a real challenge in proving his/her past performance. These challenges represent a great opportunity for all organizations engaged in the staffing industry. Market niche or general staffing with “cloud technology” most likely will get short term pressure as demand starts to rise for high performing managers with world economic recovery.