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.
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:
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.
High-potential individuals look for many of the same basic benefits as everyone else when they read through a job posting: decent health insurance, high-quality training programs, advancement opportunities and a well-equipped workspace. Unlike many other applicants, however, HiPos examine prospective employers carefully and look for very specific additional perks. Both external candidates and internal candidates do this, so if you’re looking for HiPo prospects, you can use this checklist to bait your employment posting accordingly:
Support Your Future Growth with an HiPo Management and High-Potential Leadership Development Program
You can actively retain existing high-potential employees and make your company more attractive to external HiPos with a tailor-made executive potential program. At Turnkey Coaching & Development Solutions, we craft a custom high-potential leadership program based on your company’s needs, mission, competency requirements and budget. We train, coach, and engage your executives and potential leaders in proven methodologies that will hone their innate talents and enable them to collaborate successfully with other top-ranking leaders and stakeholders. An effective high potential development program will not only help you retain and develop your HiPos but ensure they return to their positions with fresh inspiration and a desire to contribute, innovate, and collaborate.
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.
at your company with a custom-created High potential leadership program from Turnkey Coaching & Development Solutions. Call us today at 281-469-4244 for a complimentary Organizational Development Consultation.