Why Acknowledging Talent is Crucial To Survival in Business

One of the leading management experts in the world, Peter Drucker, said "Increasingly the success, indeed the survival, of every business will depend on the performance of its knowledge workforce."

Yet companies are letting talented business women walk out the door every day.

The solution should be clear, find a way to keep them or lose your competitive edge. A large company cannot afford to be without talent. The problem is, old style management treats all employees the same. Instead of acknowledging unique differences, they encourage people to blend in and fit the mold.

Change must occur rapidly or these companies will continue to lose talent, particularly women. The reason for this is that women are tired of the rat race and they're starting to become vocal about it. It's showing up everywhere in women's magazines, bookshelves, radio shows and television commentaries.

Women are tired of doing all and being all without any recognition.

Tom Peters wrote about a National Association of Women Business Owners (NAWBO) survey conducted to find out how women were acknowledged at work. The results were...
28% said verbal
2% said monetary
3% said tangible rewards or incentives
43% said a combination
24% said praise isn't often awarded.

That is why so many women are starting their own businesses. They simply see no point in toiling away for hours to produce results that are never acknowledged.

It's a new day. Women will start new businesses and women will be successful simply because they understand the value of providing emotional support, that feeling of satisfaction from simply being acknowledged, combined with pay for performance to keep their good employees.

Will existing large corporations catch on? Time will tell.