This leaves objectives 1 and 2 for serious and effective planning. Retention and attraction are the bread and butter of a LEDO. Its efforts must be focused on these two objectives.
Most LEDOs put their strongest efforts into the attraction objective. It brings the best press and is easier than retention. To focus on retention may mean going head-to-head with existing, inept management which has no desire to change. Nor is it likely that an existing business believes the LEDO has the experience and know-how for meaningful growth advice.
All this puts our friends at the GM-EDC sitting with a strategic plan that looks good, but has only one truly actionable objective. Bring in something new to prove your worth or start surfing the web for new jobs.
Morton J. Marcus is an economist, writer and speaker formerly with the Kelley School of Business at Indiana University. He can be reached at firstname.lastname@example.org.