19th Dec, 2017
Denave, Team, Designation
What differentiates a successful organisation from others? Well, undoubtedly it is the way they manage their value pools that brings the required efficiency and productivity within the system. Therefore, today organisations are keen to invest in the development of the right set of employees in order to develop them as future leaders.
Needless to add, every organisation has a mix of talent – the high potential employees aka the HiPos and the regular ones. Although finding HiPos is a crucial task altogether, equally important is their development in the right direction. The goal thus is to attract, develop and retain HiPos having requisite skills, commitment and capabilities so as to meet the existing/ future organizational goals.
Employee First Customer Second
In the realm of Sales/Marketing who is the first face that customers interact with?
Definitely the employees!
It’s more of a fact that a high potential employee can turn the tables altogether when it comes to building a strong people connect and driving revenue simultaneously.
Hence, as much is identifying or attracting them is important, all the more critical is to nurture them.
Right Channelization is the Key
Your competition is ever ready to take care of the HiPos talent that you have in case you don’t have the right capability to nurture them in the right direction. As per a report, 42% of the employers are worried that competitors will steal their top talent.
Now, how to ensure that their development is happening properly?
Let’s see few steps that can help an organisation to nurture their talent in the right direction:
Fighting the constant battle
Due to increasing challenges of hefty work culture, it has become difficult to engage and retain the hipos. This is quite evident as per a study as well, that shows that the churn rate of HiPos is 30%.
Basically, an employee’s future aspirations, training and development gap along with the leadership and middle management’s handling gap are some of the prevalent challenges that hampers the performance of high potential employees.
How should we then strategise to reduce this low engagement-high churn ratio and how do we ensure retaining these valuable assets?
Let’s see two major focus areas in an organisational culture that majorly impacts the engagement-retention level and enhance the productivity of HiPos:
Right communication and synchronisation is the art
Everything trickles down from leaders to HRD to managers and ultimately to subordinates. It’s definitely a continuous process wherein a perfect synchronisation of all of them is important.
Succession planning is that they need
It’s hard to find and sustain a continued proposition without a stable stream of talent. Therefore, creating a healthy talent pipeline signifies development at all levels
In the end, regular performance evaluations and timely recognitions certainly prove to be some invaluable tools, giving an insight into how those identified future leaders are performing, and how valid that assessment continues to be.