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.
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.
Consider that the current Baby Boomer generation - those born between 1946 and 1964 - are retiring in droves, at a rate of about 10,000 per day. This means that the HiPo employees pool is becoming smaller and younger. Your company needs to be ready to address leadership development for high-potential employees in the coming years as more managers, experienced leaders and upper-level executives retire. In one survey conducted by Brandon Hall’s Research, entitled The State of Leadership Development 2015, it was found that the challenge of developing a qualified group of professionals becomes even more challenging when you realize that 84 percent of organizations anticipate a shortfall of leaders within the next five years. Younger potentials might be too inexperienced to take on powerful leadership roles. They need to be developed, cultivated and trained so that their talents can be used in effective ways. For the right employees, HiPo leadership development programs do just that.
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.
Evaluating job performance without valid measurement criteria is impossible. That's why, at Turkey Coaching & Development Solutions, the first step in building your High Potential Employee Development Program is establishing performance benchmarks for all key positions in your company.
The Turnkey Benchmarking Process defines each job in terms of what your company expects to get out of the position. It clarifies in measurable terms what the person holding the position should be expected to contribute going forward. By establishing this criterion, we can begin to develop a vivid picture of the type of person most likely to thrive in leadership positions at your business: their talents, behavioral traits, personal skills and so on. This also helps us foster better work flow and delegation of duties within your company. With each job title more clearly defined, everyone knows their roles and the way that each position fits into the broader picture.
After Benchmarking, We Help You Identify Your HiPos
With baby boomers retiring en masse, a strong chance exists that your company leadership will receive a complete overhaul in coming years. As a general rule, the more important the position being replaced, the more costly and time-consuming to find a replacement. But there is a work-around: identifying top candidates within your company before the position opens and preparing those candidates to take over when the time comes. Our comprehensive high potential employee’s development program includes a process that enables you to identify the employees who are exceeding the benchmarks we establish together. But there is more to recognizing HiPos than evaluating their job performance. As Tomas Chamorro-Premuzic wrote in Forbes, performance is not potential. Even if you are effective at measuring performance, which you will be after implementing our benchmarking program, you also want to be sure the HiPos you identify will have the same success at the next level. The master trainers and organizational development experts at Turnkey Coaching & Development Solutions teach you to evaluate not just performance but also potential. You'll learn how to gauge possible HiPos based on a set of 23 recognized personal skills such as conflict management, leading others and individual accountability.
Our Training Is Like Nothing You've Ever Seen
What makes our high potential leadership development program unique is that it is all about YOUR company. Rather than the same old leadership program you've probably been to a thousand times, where they trot out those frenetic speakers who get you all fired up for maybe 24 hours before you forget everything that was said and it's back to business as usual, we develop a sustainable, active-learning training and coaching program from scratch that is customized for your company and is tailored to your organization’s precise needs and strategic priorities.
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.
Without the right leaders and skilled innovators, your company can't compete or grow. A high-potential development program is a proven way to find future managers and executives or develop and recognize the leadership you already have. At Turnkey Coaching & Development Solutions, we believe it's important to invest in all your people, but we also know that HiPos perform and react differently from other staff. By customizing leadership programs to account for their inherent talents, we help high potential employees hone those skills faster and most appropriately for use in a business environment. Your customized high potential employee development program may include any number of options, including your choice of the following:
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.