The Talent Innovation Formula For Transformational Marketing20 July, 2018 / Articles
Any good marketing team reviews its spending mix. But what about its talent mix?
Too often, successful companies stall because they’ve failed to keep the proper talent mix in their marketing teams. But what is the right balance between traditionalists and change makers? In our experience, we’ve found the formula used by innovation leaders can also create a marketing talent blueprint. By adopting this innovation framework, companies can better ensure the placement of the right talent to drive transformation.
This well-known recipe guides marketers in the allocation of innovation funds: Spend 70% of the budget on proven tactics, 20% on tactics proven successful in other organizations and 10% on true innovation – never-before-seen projects.
The Talent Innovation Formula: 70/20/10
In our experience, this formula represents the marketplace of marketing talent today.
70% are “The Perfect Performers.” These are individuals with a solid track record of success. They are performance oriented and they manage risk well. They’re often an immediate culture fit when they arrive on staff.
20% are “The Mavericks.” These are individuals driven by a combination of passion, purpose and performance. They are adept at working change “on the edge of the rules.” They’ll take calculated risks and likely have at least one big failure behind them (but have made up for it with a couple of huge wins). Mavericks have a knack for drawing followers because there is an excitement and thrill to the work they lead.
10% are “The Creative Sparks.” These are the true instigators. They are idea-oriented. They hate being in any kind of box and they thrive on personal risk. Rules? What rules? They follow their passion even if that doesn’t perfectly align with their business. Their career history and work style could generously be described as “spiky.” These are the revolutionaries in our midst, but they aren’t always the easiest to integrate into a large multinational organization.