Short-term pain, long-term gain

Perhaps we can compare the universe of talent to what’s happening in the football arena. Like the recent purchase of Manchester City by Sulaiman al-Fahim, the pressure on organisations to fight their way through these tough times means that it is those with the liquid clout who can summon up what is required to pay for the world’s best ‘players’ – the top talent. Strategically the way forward becomes more short-term in view.

Maria Yapp of Xancam Consulting (Workshop, page 22) offers a comprehensive guide on how these companies can navigate a successful path through this economic downturn. As Yapp explains, like al-Fahim, the wealthiest people in the world know that when all around them are selling, it is probably the best time to buy. An economic downturn presents a prime opportunity in hiring or developing talent that will deliver long-term and superior returns in the future. A good example is the recent Lehman bankruptcy and mass redundancy, where Barclays have made a beeline for newly unemployed talent in areas where Lehman had a stronger position compared to Barclays Capital, the bank’s investment banking arm.

BAT have an extremely comprehensive long-term plan for their talent. Sigrid Erdmann (Profile, page 8) discusses how important it was for the organisation to have a measureable and sustainable leadership pipeline. And this didn’t mean sending British ex-pats out to run the show overseas. It was imperitive that the company developed good local talent – ensuring sustainability.

Erdman also talks about the challenges of cracking gender diversity in the senior management positions – a challenge that Tesco are also addressing. In their case study (page 16), Tesco’s Lorna Bryson discusses how they have set up a Women’s Network to help women become more represented at senior level. What Tesco’s have found is that it is not just about promoting a culture of diversity but about empowering women to take responsibility for their career development.

Our cover story (page 12) addresses the issues around talent abroad – both the pros and cons. The huge market opportunity presented by growing populations, particularly in Asia, means there are enormous rewards to be had from not just the job experience top talent can achieve but also the tapping into previously unearthed locally-based talent.

It is all about looking at the returns over the long-term. Organisations, and similarly the Premier League, will only flourish if the youth/apprentices are given the opportunity to develop and shine: quick fixes won’t work.







Katie Pattullo
Editor