By Tom Moore, CEO and Co-founder of WithYouWithMe
What are Traditional Talent Incubators and are they effective?
The traditional view of talent incubators has been to develop an intra-company solution for employee development, new product value creation and long-term retention. The focus of internal programs has always revolved around leadership programs, mentorships and to some extent graduate recruitment.
Unfortunately, although the majority of these programs have generated positive returns, they are labour intensive and can be very costly to run thus limiting the amount of companies or organisations who can develop a program. In addition, as organisational priorities change and internal lobbyists shift positions an organisation’s taste for an internal incubation program might disappear or become infrequent resulting in lost dividends.
Secondly, as a result of a push towards leaner internal human resource structures and tighter recruitment budgets there has been a growing trend of cultural analysis and internal development programs past placement to ensure the employee is not only the right fit for the company but they are in for the long term. But leaner human resources team structures and more criteria for applicant selection can be a costly and creates financial barriers for startups and small businesses to attract top talent and continue to be competitive.
So if employee idea creation and internal talent incubation programs have generated successful results for employees and organisations at an expensive price tag why do people still leave? I think the answer is simple; The focus of current program focus is still on achieving the organisation’s outcomes and not the individual’s goals.
The formula for Talent Incubation Programs to be successful should first focus on helping an individual identify their purpose, pathway and develop them to achieve that vision overtime. Unfortunately for organisations, due to the rise of company switching for promotion or profile broadening to satisfy growing selection criteria to achieve executive roles a Talent Incubation Program must now reside outside the company with an external provider.
A Talent Incubator Provider is an organisation which nurtures and develops individuals to create a pipeline of skilled and developed talent. The Incubator develops talent for specific industries, providing companies the opportunity to tap into a developed talent pool that is sponsored by industry mentors. It allows organisations to take advantage of and foster individual development and drive and avoid infrequent or expensive internal programs.
Why WithYouWithMe is a Talent Incubation Provider?
The growing problems discussed above and the need to support veterans transitioning to industry was the fuel behind WithYouWithMe’s fire to evolve from a mentoring service to a full Talent Incubation Provider. WithYouWithMe identified that mentoring was only part of a much bigger picture to help people reach their purpose.
WithYouWithMe operates two Talent Incubator Models that develop and up-skill talented military professionals to transition successfully into industry. We help by translating rare, highly valuable skills veterans possess to help transition to the corporate sector through our Company Incubator Model to drive culture, leadership and strategic thinking in organisations.
We are also injecting highly talented and experienced military leaders into our Industry Incubator Model which delivers a developed military pipeline directly into small-medium enterprise fostering greater growth, competition and innovation in small businesses.
Throughout both our incubator programs, all of our participants conduct a Professional Profile and Personality Assessment which ensures WithYouWithMe’s unique job-fit algorithm allocates them to right career pathway and translates their military position and experience into industry skills. Once on a pathway, our participants are allocated an individualised up-skill program to develop the needed ‘hard skills’ for career growth, receive the guidance of a personal mentor in industry and are finally tested through work experience programs.
To foster community and individual growth our return model will take participants through stages of growth from “Veteran to Worker”, “Worker to Executive” and “Executive to Director”. This ensures our pipeline not only returns but effectively supports the development of new participants improving efficiency.
By operating an online and pathway driven Incubation Model WithYouWithMe aims to remove the burdens, costs and labour required to run an internal program and open incubation models to startups and small businesses. By also operating company solutions, we will deliver a constant pool of developed applicants to meet workforce requirements who are culturally suited and tested prior to placement lowering costs and deployment time frames.
In conclusion, as the Australian workforce becomes more transient and individuals focused harder on personal growth and self-worth we shouldn’t try to run programs to take make short-term organisational return but invest in the long-term personal growth of an employee through industry talent incubation so when they leave, they come back and come back skilled.
At WithYouWithMe we encapsulate this idea in our vision where we develop the right path for right person to ensure the right fit for right company. If this program is of interest to you, please reach out for a discussion with our Talent Incubation Solutions team to conduct an Incubator Assessment via our site https://withyouwithme.com or send me a message to start employing highly developed military professionals in your team.