Teachable Moments #3 - See Beyond to Gain Beyond

A Chief Financial Officer (CFO) asked the Chief Executive Officer (CEO): "What happens if we invest in developing our people and they leave us?"

The CEO replied: "What if we don't, and they stay?"

In this instance, the CEO demonstrated how a true leader should behave.

Dare to invest in developing team members. Look beyond the immediate figures on your bottom line, and you will uncover intangible gains that are far more valuable.

If they stay after being developed, fantastic! You now have your people equipped with the necessary knowledge, skills, and attitudes to perform well for your organisation.

If they leave after being developed, it’s not the end of the world. Contrary to the common perception of loss or failed investment for the organisation, there is much to be gained beyond that.

First, by doing so, you demonstrate the values your organisation holds dear, affirming that a people-focused culture is alive and well. You also maintain the moral high ground.

Team members will generally appreciate the time, money, and effort invested in them, which is likely to transform them into ambassadors for your company. This means they will carry a positive impression of your organisation, potentially sharing it with their colleagues, friends, and family, and even encouraging others of good calibre to consider joining your organisation.

Nothing beats word of mouth, and this could help attract many more talented individuals in the future.

I am a classic testament to this. I began my hospitality career with Four Seasons. This amazing company, which lives by its Golden Rule—"Treat others the way you want to be treated"—provided me with wonderful memories of working in a people-centric organisation. Although I eventually moved on, I continue to hold the organisation in high regard, recommending many others to join them. Honestly, if a suitable opportunity arose again, I would raise both my hands!

Finally, true talent management is not necessarily about keeping all the talent to ourselves. Developing them well and then losing them can be a great way to earn back that talent in the future, after they have gone out into the world to accumulate valuable experiences that would not have been possible solely within your organisation.

If you do not develop them, even if they become successful elsewhere, they may not choose to return. For those who stay, you can be assured that the savings you scrimped on not developing them will not cover the costs you will incur otherwise.

Be a leader who develops leaders. Remember, a candle loses nothing by sharing its flame.