A big part of any company's success is having the right people in the right seats. Ideally, your business currently has top talent filling its leadership positions. Unfortunately, those people aren't going to be around forever. People retire, move, change careers or branch out on their own. This presents your company with a dilemma when it comes to bringing in the next generation of leadership. You can recruit talent from outside, but no matter how qualified the candidates, there's always the risk they won't mesh with your company's culture. That's why your best option is identifying current high-potential (HiPo) employees and grooming them to take on leadership roles in the future. By establishing a high-potential development program, you can ensure the transition from each generation of leadership to the next is as seamless as possible.
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.
When they’re given a clear path to success, most high-potential employees feel highly focused and remain much more committed to their employers. With that in mind, one of the best ways to keep HiPos in your company is to engage them: give them more authority — and more decision-making power — when they’re ready to rise. Because HiPos value development opportunities, high potentials leadership programs also come into play, and the most successful executive potential training programs use a specific process to select participants and design the approach.
Identify High-Potential Employees Accurately
According to 10 years of data gathered by Gartner, HiPo employees are high-performing individuals who also share three distinct characteristics:
Assess Your HiPo's Motivational Profile
All high-potential individuals are gifted and make valuable human assets, but the most successful HiPos have a very particular motivational profile:
HiPo Engagement Is Key
Out of all the qualities listed above, engagement is arguably the most important. HiPos who show high levels of engagement usually stay in their roles — even in times of trouble — and also tend to complete HiPo programs successfully. When individuals complete high-potential assessment and development programs, they are much more likely to rise to the executive level. HiPos enjoy inspiring others and helping the individuals they’re in charge of achieve success. High-potential individuals are hugely influential wherever they’re found, and their positive contributions often help balance out negativity within organizations. Full of ideas and driven to find success, they improve overall morale and encourage others to excel. Imagine where your company could go if your pipeline were full of ready-now, fully developed HiPo individuals?
Tailor-Made HiPo Development Programs to Help Drive Success
Some business decision makers opt for cookie cutter HiPo training programs, but these strategies don’t always provide as much value as they initially proffer. Far more effective than pre-manufactured courses, tailored HiPo development programs help gifted individuals excel in their roles and prepare for executive positions.
Here at Turnkey Coaching & Development Solutions, we design high potentials leadership programs with our clients’ companies in mind and customize each component to be an ideal fit for the employee levels and experience, your budget and your strategic goals.
Each high potential development program will be tailored to your choice of proven, best practices including:
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.
Studies have shown that companies who choose to invest in their people — particularly their HiPo employees — do better, both in the short term and in the long term. High-potential individuals who receive training are much more likely to stick with their employers and tend to feel more inspired when new challenges arise. In turn, they inspire their peers and the staff members they’re entrusted with. In conclusion, when you choose a tailor-made HiPo development program and apply it to the right individuals, your initial investment rapidly pays for itself.
at your business with a unique high potential leadership development program from Turnkey Coaching & Development Solutions.