Episode 521: Bill Conaty
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The Vital Role of Talent Development in Business
How important is it for business leaders to not only identify talent within their organization, but to take meaningful action to actually develop that talent? On the flip side, how handicapping can it be for an organization to keep employees who are holding the company back from success?
Bill Conaty is a top former HR executive at GE and co-author of The Talent Masters: Why Smart Leaders Put People Before Numbers. His 40 years at GE and his time as an advisory partner for Clayton, Dubilier & Rice has made him an expert in identifying and developing raw talent at an organization.
Bill joins Greg to share insights from his time at GE, emphasizing the necessity of integrating HR with other business functions and the importance of having a seat at the table. They also discuss GE's unique HR practices, such as talent development programs, the role of corporate audit staff, and the evolution of HR through different business eras, including the impact of COVID-19 and the DEI movement.
*unSILOed Podcast is produced by University FM.*
Episode Quotes:
Candor comes first trust comes later
41:55: Candor comes first; trust comes later. In other words, we always—through our leadership development in session C, we had to say, "We always had the list of development need, one or two." And it wasn't that I needed to go to the next course at Crotonville or that I'm too tough on myself. It had to do with legitimate development needs, and you had to be able to trust the company before you could cite, you know, "I don't have great listening skills," or—and you had to feel like, "Whatever you stipulate, we're going to work with you on that." And we said: a development need is not a fatal flaw. A development need is only a development need as long as you address it. If you don't, it can become a fatal flaw.
HR Success Starts with the CEO
05:41: No matter how good of an HR leader you are, if the CEO doesn't have high expectations for what he wants out of that function, you're in for a long day.
What do we look for in leaders?
34:50: What do we look for in leaders? We started out with three E's—energy, energize, and edge—and so that's a green light, red light, yellow light. We'd go out to all the businesses, and we came away from one, and the leader had dynamite energy, could energize others, more than enough edge, and his numbers sucked. So, I said to Jack, "We assume this, but we need a fourth E, and that's called execution."
Do you need a different kind of talent master to evaluate the talent versus the values?
53:26: I think the values piece is—I think it's fairly easy to identify, but it's fairly easy to identify. If you have a real intimacy in the organization. If you don't, if you're just standing off in the distance and applauding the numbers that are coming in, you can have a real kick-ass leader that people really don't enjoy working for and probably won't work for that long.
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