By Dr. Robert W. Barner
Having a whole supplement of top-notch management expertise is among the most crucial wishes of any enterprise. "Bench power" bargains a pragmatic and unique method of the problem of preserving a strong and versatile "bench," a deep roster of most sensible expertise which are modern-day group gamers and tomorrow's staff leaders.
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Additional resources for Bench Strength: Developing the Depth and Versatility of Your Organization's Leadership Talent
By carefully considering these factors, this CTO will be able to ensure that changes in the drug development and production pipeline will be supported by changes to new leadership pipeline. Nine Criteria for Selecting Your CTO If it sounds as if I’ve placed unreasonable expectations on your CTO, I’d counter with the argument that it is better to start high 20 B ENCH S TRENGTH and see who comes closest to meeting your standards than pay the price for undershooting. Having said that, let’s consider three tools for assessing the performance capability of your current CTO, or CTO candidates.
Figure 2-2 shows the types of representative functions that might be included in this type of charter review. 2. Keep your CTO close to the action. I’d like to offer up two recommendations here. First, where your CTO is placed on your organization chart communicates a lot to your leaders about the importance your company places on talent management. It also influences the level of credibility that your CTO has with your senior team. Finally, to be able to effectively do his job, your CTO will need to have access to (and manage the control of ) a great deal of sensitive information, from executive compensation to senior managers’ executive assessment reports and performance appraisals.
There is an important risk factor here, since the cost of poor judgment calls in these areas is incalculable. Quite frankly, underpowered advisors can never identify or manage high-potential talent, since a mediocre talent manager can never be expected to help you identify top-notch people. In addition, because executive candidates are quick to size up the quality of a company’s leadership bench by the person who is touted as leading that company’s talent management efforts, the strength of your CTO will directly affect your ability to attract superior candidates to your company.