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How to Manage High-Potential Staff
WHAT ARE THE BIGGEST CHALLENGES?Aligning high potential to the wider business strategy. During difficult times, organisations have to make difficult decisions. The talents and behaviours that made a company successful over the past 10 years may be different to those that will make it successful in the future. Organisations need to refine and even redefine what high potential looks like in the current context of the business and recognise that even someone who has been a good, consistent performer for years might not be what you need to survive in tomorrow’s competitive environment.
UNDERSTAND WHAT POTENTIAL LOOKS LIKE
*Organisations need to quip line managers with the skills they need to recognise the indicators of potential, to distinguish potential from performance and to nurture talent.
*Managing expectations is critical to the success of the development programme. Individuals need to understand that being identified as high potential doesn’t always mean immediate promotion, while organisations need to avoid putting them into senior roles prematurely.
WHAT SHOULD YOU AVOID DOING?
Don’t reduce investment in future-focus development. You could lose your best talent to a competitor or find yourself under-prepared when the market recovers. Don’t assume that traditional methods will work when developing high potentials.
TOP TIPS
*Distinguish between today’s performance and tomorrow’s potential.
*Manage the expectations of both the individual and the organisation.
Source: Edensilk, Extracted from Human Resources Leader, page 36, 17 March 2009