Without the right people, an organization can’t succeed, and in today’s complex, competitive market, it’s not enough to identify staff with the right skill sets. Successful companies look toward the future and ask questions like “Who is going to lead innovation tomorrow?” One of the answers to those questions is high-potential employees, or HiPos. The designation of HiPo doesn’t necessarily pertain to how well a person can perform a specific type of task — there’s a difference between high-potential and specifically gifted. Instead, HiPos are up-and-comers with a high probability of success — which means a high likelihood of contributing to the success of your organization. By identifying and developing HiPos, companies position themselves for a brighter future.
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.
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:
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 you can use a high-potential program to target these employees, this results in satisfied individuals who are more likely to stay with the company over the long-term. Of the current crop of millennial workers, who made up 53.5 percent of the labor force in 2015 according to U.S. Census Bureau data, 91 percent said they plan to stay at their current job fewer than just three years. With such high turnover rates, it’s vital that companies first identify talented individuals and then invest in HiPo leadership programs to combat attrition. When a company is able to engage in accurate high-potential employee development programs, they benefit from:
Systematic high-potential employee identification also erases the perception from other employees that high-potential employees programs are not applied consistently, or that only a few employees are targeted for HiPo programs. To ensure high-potential programs are applied consistently and that appropriate participants are identified from all levels and departments, companies can engage in the following steps:
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.
It can be tempting to believe that high-potential employees simply succeed by themselves, but, in fact, they benefit greatly from targeted learning and development. A carefully constructed high potential development program can help gifted individuals stay on track, stick to long-term goals and make the most of their abilities. Moreover, well-conceived HiPo programs help truly talented employees advance into fantastic leaders you can count on as your company evolves. In short, when you make a relatively minor investment into your most promising employees, you’ll likely receive big dividends later on.
help them achieve career success and improve your business prospects with a custom-developed high-potential development program from Turnkey Coaching & Development Solutions. Call us today at 281-469-4244 for a complimentary OD / Leadership Development Consultation.