Capability
Capability is about having the right people in the right places within your company to deliver your business strategy. It’s about ensuring that the business has the right combination of people knowledge, skills, and ability that allows your company to fulfil your vision and goals. While building leadership and management capability is essential, an analysis of skills at all levels of your company is required to support you identify and address future skills needs. Understanding how to attract and retain key skills and talent is a critical element of building capability.
Building leadership and management capability
Building and sourcing the right skills and talent at each stage of your business growth will be critical to the success of your business. As your company evolves, you may find that the management capability required to lead your business will change and you will need to add new strategic and functional skills. Management capability can be strengthened via external recruitment, internal promotion, offering training and development opportunities or accessing external expertise through a non-Executive Director, consultant or mentor.
Understanding and addressing key skills gaps
As your company grows it will become necessary to build and add new skills across your business. A “training needs analysis” helps you map your current skills base against your anticipated business needs. You can utilise a number of options to help you address skills gaps including: upskilling existing staff, attracting school leavers through apprenticeships, offering internships and graduate opportunities, and positively promoting your company to potential candidates.
Attracting, retaining and developing talent
Taking a proactive approach to how you source, attract and retain talent within your business will help you scale faster and deliver sustainable business results. This starts with the development of an Employee Value Proposition (EVP) that will attract potential candidates. It should also include initiatives that engage and reward current employees along with opportunities for them to learn and develop.