A report by the Chartered Global Management Accountant (CGMA), Talent pipeline draining growth: Connecting human capital to the growth agenda has found that failing to draw on the talent and expertise of employees can result in significant difficulties with growing the business and reaching financial targets.
CGMA surveyed over 300 CEO’s, CFO’s and HR Directors and found that almost half (43%) of respondents thought that ineffective people management had contributed to difficulties achieving financial goals in their organisations, while two-fifths (40%) claimed it had reduced their ability to innovate.
In the context of the global financial crisis, the skills, experience, development and job satisfaction levels of employees are emerging as major sources of competitive advantage or disadvantage. Companies with highly skilled HR practices achieve up to 3.5 times the revenue growth and twice the profit margins of companies less skilled in talent management.
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Managers are arguably the most important members of an organisation. Managers act as the liaison point between the workers and the strategy makers. They lead and direct staff, implement strategies and policies devised by organisational heads and provide both upward and downward feedback and advice. They are relied upon by all levels of the organisation.
So it is very important for your business that you employ the right managers.
Interviews and traditional ability measures will provide guidance in your decision-making, but there is another tool that has been found to uniquely predict performance in managerial roles.
It is called the Multi-Tasks Test.
RightPeople’s Multi-Tasks test paradigm has a long history in psychological research but has recently re-emerged as technological advances have made it possible to develop superior forms of Multi-tasks and efficiently administer this test in the average workplace.
Read on for more information about the theoretical basis for this test, the empirical research supporting it and how RightPeople can help you make one of the most important decisions you will make: who you put in charge of your business.
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