For organisations to function effectively and achieve their goals, the ‘right’ people are critical. Business leaders and managers desire to constantly boost performance and need the right people to fill their key senior roles seamlessly.
However, as a business leader, it is one thing to be aware of this need and another to know how to carefully identify who your ‘right’ people are.
Naturally, some of your team members or employees will stand out from others for different reasons – whether it’s how productive or efficient their work output is or perhaps their knack for developing and training recruits.
The strategy and model you then apply to identify these stand-out talents and prepare them to take more responsibility in senior roles is utterly essential to the success of your organisation.
How can you identify your high-potential talent? What specific tips will determine your business and leadership succession line? What plans do you have to develop these talents and prepare them for more senior roles? How do you Crack the High Potential Employee Code?
In this deck, you’ll learn;
The reasons why organisations find it difficult to find their high-potential talent.
How Success Profile can help you identify your high-potential employees
How to create an Employee Development Plan
The metrics you need to measure to ensure you’re getting returns on your high potential employee development.
1. Cracking The “High Potential Employee” Code
Build a team of engaged, committed and productive successors.
2. The right people are our most important
asset, and because it is a key component
and multiplier, it's worthwhile to spend
time identifying and developing your
talent.
3. But many organisations face a big challenge…
THE CHALLENGE
FOR MANY
ORGANISATIONS IS
BEING ABLE TO GET
THE TALENT
MANAGEMENT
PROCESS RIGHT
The
Big
Challenge?
Click here to read: Creating the Right Leadership Development Plan for Your Organisation
4. Only 15% of
companies said
that they have
enough successors
in the pipeline.
Source: HBR Survey
This means that only few companies make deliberate
effort to:
1. Create a strong pipeline of competent successors
from within and outside their organisation.
2. Consistently evaluate their succession pipeline to
ensure that they are confident and comfortable
with the talent strategies they have.
5. ? Why it is difficult to
find high potential
employees
5
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01 Most organisations don’t have a Structured Process
Many organisations have employee development processes that are either informal or not nearly as robust in their
approach to identifying and developing high potentials.
02
Employees have a short tenure
On average, employees stay at a job less than five years. This especially is seen with the impact of millennials
entering the workforce, their expectations and how long they stay with a particular employer.
04
There is limited time and resources to commit to hiring and onboarding activities
It can take months to find people. And then once you do find them, make the offer, bring them on board. It could
take months again to bring them on board. It may be and again, is that impacting productivity.
Organisations find it difficult to find high potential employees because…
03 Organisations’ lack a robust Succession Plan
Less than a third of all organisations develop succession plans for all critical roles. Most organisations focus only on
their top executives
Click here to read: Creating the Right Leadership Development Plan for Your
8. To effectively identify your high-potential employees, some specific tips to put to practice
care;
01
02
03
04
05
Talent Assessment
Analyse overall results to measure ROI
Create an Employee Development Plan
Review the results
Developing a Success Profile
5 Specific tips to Identify your high potential
Click here to read: Creating the Right Leadership Development Plan for Your
10. • Building a Success Profile helps you to take a
future-focused approach.
• It's not just about describing what it takes to
perform the job today, but also looking ahead.
• You need to take into account your overall
strategic objectives - where your organisation
sees itself in three to five years.
• It involves looking at the patterns of leaders
who previously failed in key roles and see how
they could have better prepared.
• It also involves looking at successful leaders to
see what they brought to that role.
Developing A Success profile
11. What people know
What people have done
What they can do in terms of their current
capability.
Who they are (their behaviour)
Building a Success Profile is central to the success of your overall talent management process. The objective of building a
success profile is to ensure that you go beyond the job description, and identify what it takes to succeed in a specific
position.
An effective success profile ensures that you categorise each role into the technical, behavioural and other capabilities
needed to succeed.
Components of Success Profile
Click here to read: Guide on how to Develop a Success Profile
The four components of an effective success profile:
12. What else can the Success Profile do?
• Shape your interviewing
system
• Forms a part of your
performance
management system
• Develop training and
development goals
• Integrate your human
resource management
systems.
The success profile goes beyond just the identification of high potentials, or the succession planning
management system. It also helps you:
Click here to read: 5 Effective Ways of Developing Employees for Performance
13. When your organisation has to fill more than just one
role, you need to develop the key competencies and
behaviors that define success in each role.
Competency models should be created with behavior
examples at three different stages:
• The Effective level
• The Highly Effective level
• The Below-Standard level.
This helps you to be clear about what good looks like,
what great looks like, and what below expectations looks
like.
Developing A Competency Model
16. Start by Identifying who your high potentials are…
Some Startling Statistics:
One of the first mistakes leaders
make is equating and assuming
that current high performers are
also high potential employees.
Only one out of seven of
your high performers are
actually high potentials
High potential employees
are seen as basically twice
as valuable and really worth
the investment of time in
terms of their contribution to
the overall organization
55% of people who are
identified as high potential
either drop out of
development programs or
they were not identified
correctly, and 46% who
move forward failed to meet
the objectives in the new role.
Click here to read: How to Effectively Manage and Evaluate the Performance of your Remote Working Team
17. Ultimately…
Key Point 1 Key Point 2
What you're looking for is not
just their current capability,
but a combination of their
capacity to learn and apply
what they learn.
You’re also looking for their
desire to take on increasing
responsibility and their
commitment to the
organisation.
Click here to read: Top Talent Graduate Trainee Programme 2022
18. companyname.com
18
Part of the process is to get feedback from managers, co-workers in direct
reports to help assess some of this, but you also want to leverage objective
tools because feedbacks may have a degree of bias and perception
difficulties.
But if you take a look at objective tools that focus on future potential, and
not just current performance, you'll tend to do a better job of overall
assessment and identification
Click here to read: Improving Employee Performance – Best Practices
20. Why?
• The objective of reviewing assessment
results is to share the results with the
employees’ supervisors and create an
aggregate report.
• The objective of the report is to drive
the initiation of employees’
development planning process.
• The aggregate data can be used
to point out key development
needs and focus on key
strengths.
• It also allows you to highlight
overall group needs and
demonstrate likely outcomes
and the costs associated with
improper training.
22. Add title text Add title text Add title text
After conducting talent assessments, you should:
• Working with the supervisor of each of your high potential employee
to clarify their career trajectory, and help them understand what they
need to do to enhance their development such as assignments,
projects, horizontal movement across the organisation, etc.
• Engage the identified talent in robust leadership development
initiatives to provide access to coaching and mentoring.
While talent assessment is great, it needs to be a driver for an
overall personal development plan
Objectives
23. • The goal of the plan is to induce
Action Learning; to make it as
practical as possible, more
experiential and project based.
• It is also critical to link the
assessment and the development
plan to your performance
management process – which is
one of the key tools that managers
have to ensure that they're
focused on their high potential and
are implementing the plan.
26. This involves…
Measuring the rate of improvement in key
skills, tracking the rate of retention and
promotion among the employees who are in
this high potential pool and calculating the
cost savings around recruitment and
onboarding from external hires.
AIM
The objective here
is to measure the
return on
investment
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Click here to read: Cracking the Executive Presence Code Deck
27. In analysing your
result, you should..
• Ensure that you document the end-to-end process and have a
structured review process.
• Align outcomes and results with your organisational strategy
• Provide adequate buffers to accommodate changes in strategy and
the impact it has on the talent pool and the competencies that you're
measuring.
• Measure the number of leadership positions that are filled by talent
from your talent pool.
• Track the retention rate of this talent pool and their overall levels of
satisfaction and commitment.
• Measure the impact on bottom line performance in terms of cost
savings/recruitment cost, etc.
• Taking a look at pre and post training assessments are also good
ways to determine if the training is improving key areas.
• Collecting feedback from supervisors, direct reports and peers is
also an important measure of ROI.
Click here to read: What is Strategic Workforce Planning? 5 Steps for Successful Planning
28. Summary
By effectively cracking this code, you can create
a pool of talent that's ready when you need
them, and minimize your costs around
recruitment, selection and development. The
ability to retain and attract top talent is the key
to becoming an employer of choice,
Click here to read: High Performance Teamwork: Key to Business Success
29. At Workforce Group, our Leadership Development Plan Programme is
carefully designed to build potential leaders, teaching them the skills, and
giving them tools, and techniques needed to lead, engage and drive their
career growth to eventually deliver on business decisions and execute the
business strategy.
Also, our Assessment and Development Centre is designed to adopt a
highly practical approach with the right blend of methodologies to ensure you
have the right people in your critical roles.
Ensure you’re developing the right people and building your high potential
future employees/leaders.
Send us an email to hello@workforcegroup.com.
Scale the advantage…
32. What we do
We help organisations solve problems around:
Staff Payroll
Management
Performance management
support
Health insurance management
Executive, Experienced and
Graduate Recruitment
Staff onboarding and
training
Staff records
management
Leave and exit
management
Background
verification
Strategy Development and
Execution
Digital Learning Function Specific
Programmes
Leadership
Development
Digital Content Creation and
Conversion
Assessment and
Development centre
Occupational testing
and Success Profiling
Independent Contractor
Management
Assessor skills training
Professional Employer
Organisation
Employer of Record
Recruitment Process
Outsourcing