'Talent retention, development vital for business success'

Ramani KANGARAARACHCHI

The organizational culture must be open, honest and respectful of all people, to achieve success in any business, former Australian cricket coach John Buchanan told Daily News Business based on his experiences as a cricket coach.

Speaking at a seminar on 'Beyond Boundaries' at Cinnamon Lakeside Hotel last week he said the leader should know his staff as a 'whole' and establish a relationship with all of them to identify the talents of every one separately.

"Then he must educate staff to grow in person rather than just training by taking the staff outside the comfort zone continuously. Capabilities can be improved through improving all technical, physical, mental, tactical and team skills as well."

While in competition on a daily basis, staff must be able to move from micro to macro to understand and identify what skills they need to add to their current portfolio," Buchanan said. "Same as for a cricket team right people with special character should be selected when running a business with a very good and reliable talent identification system. A quality talent retention and development system is very important to run a successful business. When the business is performing at its peak it should use it as a benchmark measure," he said.

"However, these measures should be time based to provide accountability," he said. Buchanan said entrepreneurs should build a better foundation for his successor.

"This needs a clear philosophy and a vision. Then he can take his staff where they have not been before," he said.