Posted by Mary Joy Quiño
May 28, 2024
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In a generation where growth and professional development are paramount, especially in finance and accounting, companies that excel in talent management and nurture internal talent are setting themselves up for long-term success.
And as someone who has navigated through the challenges and triumphs of the industry, I can attest that when you nurture internal talent, your team not only self-sustains but is also highly motivated to achieve the targets of the organization.
This motivation comes from showing employees that achieving these targets brings personal benefits as well, thereby improving performance and reducing employee turnover.
In this article, we will explore how we recognize the importance of fostering our internal talent here at D&V Philippines.
Why Nurturing is Important to the Organization?
Nurturing internal talent is foundational for any business aiming for growth. Much like how every plant requires a unique combination of sunlight, water, and soil to thrive, each employee needs a tailored development plan to grow and reach their full potential.
When we invest in our employees' growth through training and development, the rewards are twofold: we build a more skilled team, and simultaneously, our team members feel valued and understood.
This sense of value boosts morale and motivates employees to align their personal goals with the organization's. As they grow and achieve, so does the company.
Read: The Importance of Mentorship Programs in Accounting Firms
Influences on My Leadership Approach
My perspectives on leadership and talent development have been significantly shaped by insights from various thought leaders and books, such as The 7 Habits of Highly Effective People by Stephen Covey, Never Split the Difference by Chris Voss, and Freakonomics by Stephen Dubner and Steven Levitt.
These resources share a common thread - understanding people's motivations and negotiating them to create win-win situations, a principle that lies at the core of talent nurturing.
Our Approach Towards Developing Talent
In our commitment to supporting our team’s personal and professional growth, we have implemented various programs. One of these is our “Annual Planning”, which is a part of our Performance Management Process.
This provides an avenue for the staff to share their goals and what they hope to achieve as employees of the company. In addition, we also pair our team members with counselors to help bring out their best, turning skilled employees into future leaders who inspire their peers.
A Success Story Worth Sharing
There’s this story I absolutely love. We have a team member, who excels technically but showed little interest in fostering relationships with colleagues.
Through our nurturing efforts, specifically the Performance Management Process, we identified and addressed this area for improvement and discussed it with the employee, including the benefits of taking advantage of training, event and accounting opportunities so they can learn and further improve their technical skills but at the same time gain confidence and build their network.
The result? A once timid accountant became a confident leader who is now guiding new recruits in their journey, showcasing the transformative power of employee engagement and encouraging employees to reach their full potential.
Lessons Learned
If there's something nurturing talents has taught me, it’s that there is no one-size-fits-all when dealing with people. Everyone requires a different approach, and sometimes, more than tailoring your approach, it's about picking your battles wisely.
For other leaders looking to enhance their talent nurturing efforts, remember that the cornerstone of effective leadership and development lies in understanding the unique motivations of your team members and crafting pathways that align with these motivations as well as the company’s objectives.
Read Next: 9 Strategies to Attract and Retain Young Accounting Professionals
Work with a Well-Rounded Team
At D&V Philippines, we understand the importance if nurturing talent, we aew a business process outsourcing firm specializing in finance and accounting, we’ve seen firsthand the transformative power of investing in our people’s development.
You may schedule a free consultation with us today to know more about the various ways we support and nurture our employees, creating an environment that encourages career development and helps them to provide exceptional services to you. You may also download our whitepaper, Employees to Partners: How D&V Philippines Invests in its People, to find out more about our culture.
— 'In collaboration of Angelica Garcia, a content specialist at D&V Philippines'
