By Martha Carlson, Co-Principal
Organizations engaging in talent review and succession planning processes typically identify a cadre of leaders referred to as High Potential talent. As mentioned in “Talent Management – Obstacles and Answers”, organizations will benefit from a consistent definition of High Potential talent.
High Potential leaders (HIPOs) exhibit many skills and characteristics, typically linked to “a wide cognitive bandwidth” – the capacity and inclination to see things in a broader context. Specifically, HIPOs: seek information and see the broader view; exhibit drive and aggression; put their business on the offensive synthesize data for decisions; balance inherent tensions between short and long term, various constituents, and opportunities and obstacles; are intellectually honest and dissatisfied with the status quo; and they have integrity and authenticity.
In addition, HIPOs are described as those having a high level of Ability, Aspiration, and Engagement:
Ability – The mental and cognitive agility, emotional intelligence, technical/functional skills, and interpersonal skills required for success at the highest levels of corporate leadership
Aspiration – A driving desire for recognition, advancement and influence, financial rewards, and job enjoyment, and the appropriate expectations regarding work-life balance trade-offs required of senior executives
Engagement – An emotional and rational commitment and intent to stay with the company, resulting in high levels of action and effort
Viewing talent as the organization’s greatest asset, High Potential talent is akin to a precious metal –research indicates that High Potentials (HIPOs) are more than 50% more valuable to the business than core employees because they exhibit 21% higher performance levels. However, if not developed and nurtured, the value of this asset can quickly erode.
Of all the Talent Management activities organizations can engage in, identifying and managing HIPO talent has the biggest impact on achieving business outcomes. And yet business leaders are not well equipped to identify and manage HIPO employees. Thus, it is incumbent upon HR to sponsor programs that sustain the value of these crucial assets.
The Bailey Group supports organizations in the development and retention of HIPO talent through the following:
Career Path Mapping
- Organizational consultation on career path alternatives for HIPOs designed to identify and manage critical career transitions and development experiences needed for high performance at each transition point
- Individual coaching on career path strategies
- Designing and implementing cohort experiences and networking opportunities to help build and sustain key relationships
- Individual coaching on building, sustaining, and leveraging key relationships
Development Planning and Implementation
- Supporting organizational commitment to HIPO development through structured sponsorship of HIPO development planning, communications/visibility strategies, and feedback mechanisms.
- Providing individual and group coaching to support leadership development progress
- Working with leadership to identify job challenges to accelerate development and establishing processes to evaluate and lock in what is learned on the job
- Through coaching, reflecting on day-to-day job challenges to identify effective and ineffective strategies and behaviors, generate alternatives, and test new approaches
Identifying High Potential talent alone will not move the organization forward – the investment after the 9- box matters most. The Bailey Group has the experience and expertise to support companies in their Talent Management initiatives – before, during, and after the 9-box. Contact Tami Petersen at 763-545-5997 or firstname.lastname@example.org to schedule an initial consultation or request additional information.