When discounting chain Lidl was about to enter an Eastern European country’s market, a leading supermarket was facing disruption. To solve this, the company heads asked its store managers to improve its talent management practices, so that the high employee turnover ratios could be reduced. While this worked at the store level, there was no major change at the profitability of the company. The supermarket chain merely managed to reduce its corporate training costs, but no discernible increase in its revenues. This clearly proves, that it is nearly impossible for team leaders to wear both their ‘people hat’ and their ‘profitability hat’ together. The leader is never infallible, but like any other position, would have his/ her flaws. The X360 is a tool used to unmask such blind spots in a leader. Post company transformation, it is a common occurrence to see the profitability- oriented leaders lose a lot of old hands. Organizations must thus get humanized using this process.

Source:https://knowledge.insead.edu/leadership-organisations/how-leaders-can-maximise-their-impact-10711

Uploaded Date:06 February 2019