Fast track system brings in double benefit
RAJEEV joined as a sales executive in an engineering firm. Making deals for the company was his forte and that earned him a promotion as sales manager. Here too he proved his mettle and this made the management train him in marketing so that he could negotiate bigger deals. Today, Rajeev is the head of the marketing team in his company.
Rajeev's fast track growth in his career not only helped his career but also the company he worked for. With the trend of mass recruitments increasing, companies are finding it increasingly difficult to fill the gap between the many employees at the entry level and the few at the top. To solve this problem companies are using the fast track system for the entry-level employees to fill the management positions in the lower and the middle levels.
Companies are adopting the fast track method as a business strategy to improve the quality of their workforce and enhance growth. It also provides for a clear, tangible and reasonably fast growth track for employees. The organisation can choose the right people, retain and develop them so that they acquire the right skills and use their potential to develop the business.
Today, the trend of working for a single employee and that too for a lifetime is passé. So it is all the more imperative that companies adopt the fast track system to retain talent. Companies should make it a part of their HR and management strategy to develop employees and groom them as future leaders.
Before deciding to implement a fast track programme the management has to consider both its needs and that of its employees and design the programme accordingly.
Things like the organisational strategy, the skills needed to achieve them and the departments crucial to its success need consideration. Identifying the talent and aligning it with organisational goals will help the HR strategy and corporate strategy to work in tandem.
Employees' aspirations, especially those selected for a fast track programme are to be considered. Generally, the best talent does not like to be managed. Rather they would like to know if the fast track programme gels with their personal goals and career aspirations. The programme has to be designed taking these factors to account.
The first step in developing a fast track programme is to spot those who will be eligible for the programme. These employees generally achieve more than what is expected of them and they display above par performance and do better than what their age or experience demands of them.
The methods adopted by the management to identify such employees include 360-degree performance reviews, assessment centres, training and coaching programmes, special assignments and accelerated development programmes. Other assessment methods include competency based interviews and psychometric tests. But companies have to ensure that their assessment methods are consistent so that it is easy to select the best. There should also be transparency in the selection process so that everyone is aware of who has made it to the list. Doing otherwise will cause mistrust and dissatisfaction among employees. Also everyone should be given a fair chance to be assessed. The HR department has to take the lead in choosing employees at the recruitment stage itself. It should pick out those who are likely to meet the organisational objectives. Once they prove their worth, these employees should be given clear career paths to pursue and given adequate training.
Companies use many methods to train and evaluate those on the fast track. These include training in cross-functional areas of the various activities of the company. The fast trackers are given opportunities to interact and work with the senior management. Some companies even have leadership development programmes for fast trackers to learn from the best, examples include the TAS programme of Tata and Infosys Leadership Institute of Infosys. The training methods include mentoring programmes, action learning and outdoor learning to nurture the potential of fast trackers.
After adequate training, these fast trackers are given a choice to choose a career close to their heart. They are also promoted to lateral positions within the organisation. Today when business is becoming more global fast trackers are also being trained in global leadership skills.
It is the HR department's responsibility to ensure that the fast trackers deliver consistent performance in their job and do not slack out once they reach the top. HR should allow them to change their job profile periodically to avoid burnout. The management should also provide them constant motivation and mentoring so that they put in their optimal performance.
A fast track programme does bring attrition levels down because it is a testimony to the incredible growth opportunities the company can offer but not every employee can be put on the fast track. Limitations like the development opportunities available, the job rotation options and the number of employees who can be effectively trained are factors to consider. The organisation can start with small numbers and once they have fine-tuned the methods of selection and development, they can always put more employees on the fast track.
Fast tracking is a choice option for the employer and employees to create a win-win situation for both.
HEMA SWAMINATHAN
faqs@cnkonline.com
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