Business success trickles down from the top. Enthusiasm starts at the upper echelons of a company, and it spreads through the ranks, empowering department managers, salespeople, customer service reps and other vital staff members. Because of this, it is vital to ensure that your executive roster remains filled with competent talent over time. When people retire and vacancies present themselves, many companies opt to fill them by placing ads on external sites, hoping for an influx of gifted applicants. Unfortunately, studies have shown that businesses stand a better chance of long-term success by training and developing potential leaders from existing high-potential employees.
All your employees are valuable, useful and vital parts of your business, and without them, your company would cease to exist. High-potentials are upwardly mobile employees with the capacity to move easily through the ranks and positively influence the staff members they manage. Also known as HiPos, these unique individuals are relatively rare and achieve consistently good results under challenging circumstances. When correctly identified and trained, HiPos can help shape the future of your company for the better.
Most industry leaders believe that all employees benefit from competency development training programs designed to help them harness their talents. High-potential employees are frequently already in charge of other people — or they’re earmarked for management positions — so HiPo development programs usually have a positive effect within your company. High-potential Development programs work like this:
Stage One: You identify your HiPo employees and create a list of potential course objectives and attendees.
Stage Two: You implement a custom-built high potential development program in which participants benefit from one-on-one mentorship, individual feedback and development planning, face realistic challenges during simulations or shark tank style workshops and gain access to multidisciplinary training opportunities.Stage Three: Newly energized and inspired, HiPo employees drive growth and move your company forward.
According to Forbes, approximately 95 percent of high-potential employees report feeling committed to the company they currently work for. Even with that commitment, as many as 21 percent still report looking for another job. Why would HiPos seemingly engaged with your organization look elsewhere? One reason is that an unchallenged HiPo becomes a bored and unhappy employee; even if they agree with your mission, feel compensation is more than enough and enjoy their workmates, they may feel unfulfilled without challenge and development opportunities. Organizations that actively work to identify and develop high-potentials in the ranks can cut that number by as much as 7 percent. When they’re identified and provided with opportunities, such as HiPo development programs, talented employees don’t just thrive — they can also help lead others.
Forward-thinking organizations set themselves up for success by providing well-constructed, high-potential employee development programs for their high-performers. By offering your HiPos a plan for managing their careers and creating a path for promotion, your organization not only builds more competent employees but cultivates a greater probability of business success. HiPo training programs make your most promising employees and leaders more effective by teaching them how to leverage their natural talents. In turn, HiPos generate new ideas, encourage other members of staff and generally strengthen your business from within.
During high potentials leadership program, trainers frequently tackle the following topics:
When equipped with the above three skills, high potential employees bring even more to the table and your business benefits accordingly.
High-potential individuals look for many of the same basic benefits as everyone else when they read through a job posting: decent health insurance, high-quality training programs, advancement opportunities and a well-equipped workspace. Unlike many other applicants, however, HiPos examine prospective employers carefully and look for very specific additional perks. Both external candidates and internal candidates do this, so if you’re looking for HiPo prospects, you can use this checklist to bait your employment posting accordingly:
Support Your Future Growth with an HiPo Management and High-Potential Leadership Development Program
You can actively retain existing high-potential employees and make your company more attractive to external HiPos with a tailor-made executive potential program. At Turnkey Coaching & Development Solutions, we craft a custom high-potential leadership program based on your company’s needs, mission, competency requirements and budget. We train, coach, and engage your executives and potential leaders in proven methodologies that will hone their innate talents and enable them to collaborate successfully with other top-ranking leaders and stakeholders. An effective high potential development program will not only help you retain and develop your HiPos but ensure they return to their positions with fresh inspiration and a desire to contribute, innovate, and collaborate.
If they’re exposed to the right potential development training program, high-potential employees thrive no matter when they’re identified.. Developing high potential employees requires thoughtful consideration of where they are in their careers; as newcomers may require a different approach than an employee with more experience. Thoughtfully designed high potential leadership programs treat these two HiPo types differently to ensure optimal development.
Early-stage high potential employee development programs may combine 360 feedback, coaching, and mentoring with technology-enhanced learning tools and group-reinforced training methods. When they’re caught early, HiPos usually develop quickly and often provide their parent companies with years of service.
Late-stage HiPo employee development programs require greater sensitivity in the set-up phase. It’s important to foster engagement by leveraging the experience of more senior employees. When encouraged through recognition and personalized learning goals, more experienced employees often help create a rich learning environment.
Taking time to fully customize a program is considered an important high potential development best practice and by taking advantage of the group’s collective wisdom, high potential programs for employees can achieve impressive results.
In short, company owners should invest in both early-stage and late-stage high-potential employees to cultivate success.
Q: Why should I give high-performing employees special attention?
A: All employees benefit from excellent training courses, and business leaders looking to achieve real success should invest in every employee. By identifying high potential employees and crafting a plan to retain high potential employees, HiPo development programs create a succession strategy and ensure the underlying structure of a company can survive beyond the current executive team. Additionally, in a rapidly changing business environment, employees require specific training and encouragement to ensure innovation, interpersonal effectiveness, and the other leadership competencies required to create a lasting competitive edge.
Q: What is the payoff of a high potential assessment and development program?
A: During high potential training courses, attendees learn how to hone their instinctive skills and how to communicate effectively with others to achieve success. When training programs conclude, attendees emerge with new enthusiasm, fresh ideas and vision for the future. More specifically the ROI of retaining high potential employees yields reduced employee turnover costs, knowledge capital retention, and greater returns due to employee engagement and competency.
Q: What do effective high potential employee assessment and high potential leadership development programs look like?
A: High potential leadership development programs vary depending on the participants, the company goals and budget. High potential employee development programs best practices include leveraging more experienced HiPos and customizing the program to be strategically aligned with the long-term goals of the organization. Best practices include using relevant high-potential assessment tools and online 360 feedback tools, personality assessments such as the DiSC or MBTI plus individual development planning, coaching, mentoring, shark-tank style capstone projects and group coaching, to name just a few options. TurnKey Coaching & Development Solutions specializes in custom-engineered high potential talent development programs that deliver multifaceted learning opportunities to help participants advance.
It can be tempting to believe that high-potential employees simply succeed by themselves, but, in fact, they benefit greatly from targeted learning and development. A carefully constructed high potential development program can help gifted individuals stay on track, stick to long-term goals and make the most of their abilities. Moreover, well-conceived HiPo programs help truly talented employees advance into fantastic leaders you can count on as your company evolves. In short, when you make a relatively minor investment into your most promising employees, you’ll likely receive big dividends later on.
with a high potential employee development program built with best-practices and proven models. Turnkey Coaching & Development Solutions is here to support you. Call us at 281-469-4244 today.