Developing a business that’s successful and profitable takes money, time and energy. However, you can have endless deep pockets and all the tangible resources imaginable, but without the right talent, a business won’t be as successful as possible. A high-potential employees program enables HR to strategically foster and grow talented individuals within your company, ensuring viable leadership succession and a strong foundation for growth. The right HiPo development programs help you identify and cultivate these rare talents.
The first step in creating a successful high-potential employee program is understanding what high-potential employees are and why it is so important to develop them.
In their Harvard Business Review article, “Are You a High Potential”, Douglas A. Ready, Jay A. Conger and Linda A. Hill describe HiPos as possessing the following characteristics:
This combination of traits makes HiPos ideal candidates to guide your company into the future. But it also means they need the right guidance and training to keep their vision and goals reconciled with those of your business. Left to their own devices, they can easily get derailed and go rogue. The master trainers at Turnkey Coaching & Development Solutions understand the psychology of HiPos. We can help you build an effective high potential leadership program that strategically grooms them to steer your company to long-term success.
According to an international survey by the Corporate Leadership Council, approximately 75 percent of companies are concerned about staffing leadership positions in the future, with almost two-thirds of all companies identifying themselves as ineffective at identifying potential leaders. Does the use of high potential employee development programs make a difference? A Hewitt Associates study of large companies in the United States shows that the answer is yes. When companies deliberately identify and train HiPos, their total shareholder return (TSR) goes up, sometimes dramatically. TSR continues to increase when companies track the progress of their high-potential employees, performing regularly in the 75th percentile. Not surprisingly, HiPo employees who've been properly identified and trained tend to be promoted more quickly than other employees. Whether this is a result of excellent selection at the identification stage or on-target training and development programs is moot. Whether nature or nurture lies behind their success, the value of HiPo development programs is apparent.
Our high potential employee assessment and HiPo development programs are nothing like the run-of-the-mill leadership programs you've likely sent your employees to before. We do not host one-day or one-week events where your company leaders mingle with executives from other firms and listen to so-called "trainers" rehash the same hackneyed leadership clichés that, by now, are probably seared into your brain.
Instead, we evaluate your company and its specific needs; then, we build a program from the ground up to meet them. We customize every program using high potential employee development best practices, including:
Your hi potential employees get the opportunity to work with master trainers who specialize in developing high-potential employees. They have helped many businesses get the most out of their workforce and create seamless transitions between generations of leaders. Our master trainers HiPo program experts put their knowledge, experience and vast resources to work for your business.
One of the reasons companies struggle to discern between high-potential employees and other high achievers is that they sometimes look the same, especially if all you consider on a regular basis are performance metrics. In fact, a potential HiPo that hasn’t been developed is actually likely to have lackluster performance metrics, especially if they’ve done the same task for some time and are bored with the work. At Turnkey Coaching & Development Solutions, we encourage executives, managers and HR staff to look beyond performance metrics. Through regular communication and working side-by-side with your staff — and even participating in team development programs with them — you can better identify individuals who have traits associated with HiPos. Some traits to look for include:
Traditional day or week-long high potential employee development programs might seem like an easy way to develop your high-potential employees — after all, that's what other companies are doing, right? — but think about how many such programs you've attended in your career. Then ask yourself, "Am I really a better leader because I attended a few formulaic leadership conferences?"
If you want real results, you need a customized HiPo employee development program custom-built just for your company and with high potential development programs best practices. That's what our master trainers and certified coaches at Turnkey Coaching & Development Solutions have to offer. Typically, we work with both large and small groups of high potential employees to create a comprehensive training and HiPo development program crafted around your goals that prime your business for success.
What kind of background do your master trainers have?
Many of our master trainers have 10+ years corporate experience, thousands of hours of executive coaching, and have served as corporate executives themselves or had Fortune 500 companies as clients. In addition, many of them hold advanced degrees such as MBAs and Ph.Ds.
What kinds of results can my company expect?
The goal of our high potential employee assessment and development training programs is to first establish the results you hope to achieve and then design our program to offer the best chance of seeing those results. Perhaps your organization seeks to reduce turnover, or improve innovation, or perhaps your executives are within retiring age and you want to ensure a ready-now bench of competent leaders. We can design a high potential employee development program to address these needs and more. In fact, many of our clients have reported increased productivity, better organizational strength, cost reductions, higher bottom-line productivity and many other positive results.
How much does a high-potential employee development program cost?
Because we custom design each program based on the client's individual needs, it is impossible to quote an exact cost up front. What we can tell you is this: We offer a variety of participation levels that let you choose the intensity and duration of the high potential development program based on your budget and the time your organization has available to invest.
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.
with a comprehensive employee development program delivered by Turnkey Coaching & Development Solutions. Call us today for a complimentary consultation – 281-469-4244.