Driving Business Success with a High-Potential Employees Program in Downey, CA

Bolster Internal Talent With a High Potentials Leadership Development Course in the Downey area

Many companies spend sizable portions of their yearly budgets on recruitment, hoping to find star players hidden in the stacks of resumes they receive. When opportunities for growth are limited, internal key players leave to seek better prospects elsewhere. It’s a vicious circle, but it can be broken when businesses learn how to identify high-potential employees and invest in their development. Business owners who opt for customized HiPo training programs improve their companies’ structures, making them more resilient against industry change.

High-Potential Employees Defined

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.

HiPo Development Programs Explained

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.

Identifying High-Potential Employees

In a recent study by the Harvard Business Review, 98 percent of companies surveyed said that they deliberately identified high-potential employees. However, half of respondents said that they spent less than 10 percent of their time actually developing those potential future leaders. If the HBR study is a reliable indicator of the wider marketplace, then we can conclude that a sizable proportion of all companies don’t adequately leverage their existing talent bases. The first step on the road to high-potential employee development is HiPo identification. Though different companies have different criteria they use to ID talent, most businesses agree that HiPo personnel share the following characteristics:

  • They outpace and outperform their peers in a variety of work-based situations
  • They achieve superior results and simultaneously exemplify company values
  • They are upwardly mobile and display healthy ambition
According to the same Harvard Business Review survey, most businesses place the top 3 to 5 percent of their most gifted employees in the high potential category.

How HiPo Development Programs Benefit Your Business

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:

  • Mechanisms for success. Managers who truly believe in the phrase “the ends justify the means” need not apply to a high potential training program. In the HiPo employees universe, methods count as much as results, and bullying isn’t a part of the curriculum.
  • Decision making. In the business world, calculated choices frequently have to be made on the fly. Innate talent is useful, but pragmatic decision-making skills sometimes must be taught.
  • Self care. Because they’re driven by the desire to excel, many HiPo employees push themselves too hard. When they’re taught to pace themselves, high-potential individuals perform more consistently, get sick less often and avoid exhaustion.

When equipped with the above three skills, high potential employees bring even more to the table and your business benefits accordingly.

When companies are able to identify high-potential employees, HR professionals and those involved with talent management can reduce dropout rates associated with people leaving the company and also save money on wasted resources and needless expenses.

When you can use a high-potential program to target these employees, this results in satisfied individuals who are more likely to stay with the company over the long-term. Of the current crop of millennial workers, who made up 53.5 percent of the labor force in 2015 according to U.S. Census Bureau data, 91 percent said they plan to stay at their current job fewer than just three years. With such high turnover rates, it’s vital that companies first identify talented individuals and then invest in HiPo leadership programs to combat attrition. When a company is able to engage in accurate high-potential employee development programs, they benefit from:

  • A stronger bench of high-potential employees to fill key positions
  • Shorter learning curves when transitions are made
  • A larger pool of key talent and flexibility within it
  • Consistently high performance from a steady supply of talent

Systematic high-potential employee identification also erases the perception from other employees that high-potential employees programs are not applied consistently, or that only a few employees are targeted for HiPo programs. To ensure high-potential programs are applied consistently and that appropriate participants are identified from all levels and departments, companies can engage in the following steps:

  • Ensure existing leadership understand what HiPo employees look like
  • Create a mechanism by which leadership, HR, and other stakeholders can tract potential HiPos
  • Pay attention to both performance metrics and an employee’s interaction with team members, leadership, customers, problems and the work in general; metrics alone do not accurately identify HiPos
  • Invest in high-potential employee training programs to best cultivate HiPo talent
It’s certainly easier said than done, and that’s why your company can benefit from a high-potential leadership program to help you identify specific criteria, find ways to make it measurable and learn how to assemble a talented pool of high-potential employees. Keeping high-potential employees engaged within your organization is important, because 55 percent of these key potential leaders are prone to leaving your company if they don’t feel engaged. Participating in our high-potential program helps ensure your most talented employees don’t decide to take their expertise and knowledge elsewhere.

When to Implement HiPo Development Programs

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.

  1. 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.

  2. 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.

HiPo Programs: The FAQs

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.

Businesses frequently hold hidden gems in their ranks: high-potential employees who could move all the way up to executive level if they were given the right type of training, coaching, and mentoring. High-potential leadership programs give these gifted individuals the specialized attention and coaching they need to develop their innate talents and lead teams to success. Such targeted training programs pay for themselves over time as recruitment and turnover costs go down and profits increase as your company structure, strategic readiness and competency improves. In the end, your HiPo employees and your company both benefit equally.

 

Give your high-potential employees the learning opportunities they need

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.

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