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’High potentials’ need stimulating environment
Retention of talent is perhaps one of the biggest challenges faced by organisations today. This is all the more reason for businesses to invest heavily on developing, nurturing and retaining high potential employees. High potential employees are the creme de la creme of the workforce. They are the stars, the key stakeholders, the top performers and the employees with the requisite skills and qualities set to become the next generation of leaders.
With training and development costing a pretty buck, organisations are finding it more meaningful to invest the money in people who can provide a measurable impact on the business bottomline. Most established corporates have a formal programme for training and developing high potential employees as different from high performing employees.
Spotting the potential
High potential employees may not necessarily be doing exceptionally well in their current jobs, and not all people who are doing well in their jobs qualify as ‘hi-po’ talent that can be groomed for future challenges and leadership responsibilities.
Although specific attributes may vary from organisation to organisation, there are a few traits shared by most high potential employees. Apart from the skills and expertise required to move into new roles, high potential employees typically display great enthusiasm and inclination for knowledge and learning. They are agile learners who catch on quickly, and are ready to experiment and try new things. Open to feedback and criticism, they also exhibit high levels of self-awareness and emotional intelligence when dealing with other people. They are the risk takers, eager to challenge the status quo, and continually seek personal growth and challenge in everything they do.
A formal programme for the development of high potential employees simplifies the process of charting a roadmap of future leadership roles and individual career development strategies. And while leaving enough room for future changes and growth, these essentially should not be rigid, such programmes can be useful in identifying unique competencies and qualities required for each future leadership role, lend clarity to succession planning, and help secure sensible career paths for talented employees within the organisation based on their individual strengths and abilities.
A combination of tools including technical qualifications, work experience, 360-degree feedback assessments and supervisory assessments are routinely used for identifying high potential employees.
How to develop high the potentials?
High potential employees need to be placed in stimulating, challenging environments where they have continuous opportunity to learn. Put them in the company of other talented people, and pair them up with senior managers so that they can benefit from new insights, strategies, experience and age-old wisdom. Get them to work on key business priorities, develop their stamina for challenge through stretch assignments and lateral training. Growth and continuous development are important for the retention of top employees, and their grooming needs to be augmented through special mentoring, training and developmental programmes.
Developing talent is one thing, but retention is a whole new ball game altogether. In this light, early identification of high potential employees is crucial because it enables organisations to invest more time and better planning in creating strong, customised career paths for the employees, reducing the chances that they will have to look elsewhere to fulfill their professional ambitions.
Customised development plans tied to strategic organisational needs will also mute the chances of high potential employees being poached upon by competitors.
BINDU SRIDHAR
faqs@cnkonline.com
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