The ROI In People
The numbers are in. Great products and services, coupled with solid financial and technology systems and controls, are not enough to succeed in today’s competitive marketplace. To be the best, a company must have the best leaders, best people and the best culture all fully aligned through the best talent processes. The end goal…beat the competition. The proof:
The share price of the Fortune’s “100 Best Companies to Work For” outperformed the S&P 500 group of companies by 99%...a success ratio of 2X the profit margins and 3.5 times the revenue.
Boston Consulting Group
Unfortunately, for small to mid-sized fast growing or stable companies:
There’s a problem that … (they) often don’t see coming until the damage is done. Namely – they don’t recognize until it’s too late just how much value is being lost owing to immature talent development, retention, evaluation and recruitment processes.
Bill Millar, Forbes Insights
So it would obvious then that talent is critical to success. So why the absence and often resistance to the implementation of great talent processes? Research shows the reasons to be:
- Prioritization
- Pace of change
- Owners and Managers have no formal experience in organizational performance
- Damage being hidden by success in other aspects of the business
- Fear of change
To acquire, mold, motivate, and engage a winning team, a company would benefit by allying itself with a trusted and experienced business partner knowledgeable in how to develop a talent strategy that works. Cornell Global is such a partner. We are industry agnostic, targeting typically start-ups or young companies, family or privately held companies, and middle market private equity portfolio companies with revenues $300M or less. Our mission...to drive business valuation through people!