Think like marketer to develop great people for winning team

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This article was published 06/01/2024 (651 days ago), so information in it may no longer be current.

Professional sports teams know that drafting or acquiring top players via trade is only part of the success equation. Once you have the talent, your winning game plan must include development of the players to ensure they have the necessary skills to excel in their game assignments.

Similarly in business, the second step towards positioning for success is the development of the talent you attract to your organization. Last November I wrote about how leading companies use a marketing strategy to attract their talent. In my experience, applying marketing principles to guide your staff development pays off in spades.

In marketing, leading companies apply the 4Ps (product, place, price, and promotion) to ensure a rigorous and comprehensive approach to creating, developing, and delivering products that their customers value. Products have a life cycle that includes four stages — launch, growth, maturity, and decline. The stage of the life cycle impacts the tactics companies employ and competitive responses that have been observed for decades. Knowing there are market changes driven by new competitors and changing customer demands requires adaptability of the product. Just like professional sports teams, marketers must monitor internal and external factors to determine when, and if, to make changes to the product line or player lineup.

If you apply this concept to your employees, you will see a similar evolution during their careers. Professionally trained and supported employees deliver superior value for the company at every stage of their employment life cycle.

Applying this marketing mindset will help your organization provide a fulfilling work experience. It is expensive for your organization to hire and train staff if you do not develop them so they embrace the challenges of their job. They need to believe they are contributing value to your company and your customers. If not, you will be replacing them with a high frequency which is expensive and counter productive.

Successful organizations know that employee development, just like product or player development, must be a structured approach. When you create an exciting and supportive environment for your team, there is a higher likelihood that employees will be more engaged in their work and stay longer. Just as a company’s products have a life cycle that changes as the product matures, employees will follow a similar path as they learn about the products and customers they serve. During an employee’s tenure they learn, grow, and innovate to become more valuable. This translates into a happy workforce over a longer period of time that results in company success.

If you care about developing terrific employees, consider these important marketing lessons from some of the successful companies I have worked with over my career.

First, accepted best practice is to hire for talent and train for skill. After hiring your talented employees, training for skill means that each company has a unique requirement for their employees’ development. These requirements depend on your industry category, associated level of competition and position within your industry (are you a market leader or one of many alternatives for customers), and your vision for the future (what do you want to become). Knowing these components help guide the alignment of the individual development plans and corporate annual plans. Successful companies know this is a partnership between the employee and the company. The corporate needs are linked with an employee’s skills and abilities and vice versa. Think deeply about the skills that must be developed in your company to achieve your goals, not just for today but for your future.

Second, leading companies ensure there is a strong support connection between managers and employees. While each employee starts with a plan, they need to have the support, coaching and discipline to achieve the training goals. Companies I admire the most ensure that their managers are also trained so they can support their employees.

Finally, leading companies ensure they evaluate and monitor corporate and individual progress regularly to determine if adjustments need to be made. Just as with product management in relation to the life cycle curve, regular assessment is necessary to identify factors that can impact company and individual results. When the customer needs or wants change, or a competitor conducts a truly disruptive action, leading companies know they can rely on their properly developed employees to initiate the appropriate action to remain successful.

Too often employees and their organizations look short term instead of long term regarding employee development. Experience tells us there are many variables impacting corporate and individual performance over time. Building a solid foundation for employee development and adapting as necessary ensures that you are always well-prepared for any situation that might arise.

Tim’s bits: Every leading company delivers superior value to their customers. They achieve this by first delivering superior value to their employees. Your winning game plan includes ongoing skill development, support, and constructive feedback for employees. In this way your employees can achieve their full potential and continue to deliver superior value to your customers.

Tim Kist is a Certified Management Consultant, authorized by law, and a Fellow of the Institute of Certified Management Consultants of Manitoba.

tim@tk3consulting.ca