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.
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.
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.
HiPo programs can help businesses plan in advance for future vacancies created by retiring executives. When businesses take advantage of existing internal talent, they reduce the need to hire and train external candidates. The small initial investments company owners make in custom high-potential development programs pay off very quickly. Lower recruitment costs and optimized business structures lead to larger profits and a widespread increase in employee morale. To sum things up, high potential development programs help businesses both in the present and in the future.
and ensure steady leadership for the future with a high-potential development program from Turnkey Coaching & Development Solutions. Call us today at 281-469-4244. We look forward to learning about your goals and providing our complimentary OD consultation services.