Profiles intl article_20140430_hitting the mark with high potentials


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Hitting The Mark With High Potentials

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Profiles intl article_20140430_hitting the mark with high potentials

  1. 1. Hitting the Mark With High Potentials
  2. 2. Profiles International, a leader in providing assessment solutions to help organizations select and develop the right people for the right job, recently published an eBook on what organizations need to do in order to identify and manage high-potential employees. The new guide offers interesting and useful insight to improve overall organizational performance. A summary of the topics discussed in the eBook include:
  3. 3. • What is Potential? Potential is defined as the possibility of developing or achieving something in the future. For an employee, it’s the ability to perform within the organization at the highest levels he or she is capable of reaching. As a leader, you must identify, assess, and develop high-potential employees. Your objective is to see the potential in an unrefined employee, and then turn him or her into a stellar performer.
  4. 4. • The Difference between High Potential and High Performance Contrary to popular belief, performance doesn’t always equate to potential. You can have a rock star employee who has all the right stuff to excel to higher levels within the organization, but isn’t being productive. The key with any high-potential employee is to actualize productivity.
  5. 5. On the flip side, a reliable high performer may not have what it takes to lead. He or she may lack the skills or desire to move up within the organization. Some high-performing employees may be perfectly happy doing their current jobs, and have no interest in assuming greater responsibilities. Therefore, managers must keep in mind that performance does not equal potential. If you confuse the two concepts, you could be making a costly mistake.
  6. 6. Knowing who your high performers are is easy: they’re the ones who are consistently exceeding expectations and have solid successes under their belts. But, how do you identify a high-potential employee? Industry experts have developed lists of certain traits that high-potential employees possess. These traits seem to be universal, and include: knowing the business, garnering the respect of others, being ambitious, working well with others, and taking risks.
  7. 7. • The Upside and Downside to Acknowledging High Potentials If you don’t acknowledge an employee’s potential, you risk losing him or her to another company - perhaps a competitor. However, singling-out certain employees may cause morale issues within your team.
  8. 8. Acknowledging high-potential employees can be a double-edged sword. High potentials need to be appreciated, encouraged, and challenged. In addition, they need to be mentored and measured. With proper guidance, a high-potential employee can reach higher performance levels. Differentiating among employees can cause issues, such as animosity among co-workers. When you openly identify a high-potential employee, you risk negative consequences.
  9. 9. • Overcoming the Paradox So, what’s a manager to do? You want to retain and groom your high-potential employees, but you don’t want to alienate other team members. According to several studies, identifying high-potential employees in a transparent way achieves the best outcome. In other words, the good outweighs the bad, and you’ll be better-positioned to achieve a high-performance workplace.
  10. 10. • High Potential Development Equals High-Performance Workplace The purpose of identifying and nurturing high-potential employees is to increase overall company performance. A domino effect takes place during this process: improved performance leads to better morale, which leads to happier employees, which leads to a lessened impact from recognizing high-potential employees.
  11. 11. • How to Be More Effective in Identifying and Managing High-Potential Employees What can your company do to identify and actualize high-potential employees? The Profiles International eBook discusses four ways to do this:
  12. 12. 1. Establish a definition for “potential.” What key attribut s does an employee need in order to advance within your organization? 2. Determine objective measurements. It’s important to use assessment tools, rather than rely on subjective input. 3. Make commitment a requirement for career opportunities. You don’t want to invest heavily in high-potential employees, only to have them bail on you. 4. Develop a program that prepares high-potential employees for realistic future roles. This preparation requires you to provide differentiated development experiences.
  13. 13. • Three Ways to Identify High Potential Companies must eliminate the process of selecting and mentoring employees, based upon subjective criteria. When left to this kind of input, personal perceptions often creep in, and “buddies” get promoted. Assessments are the best and most objective way to identify high-potential employees. When used correctly, professionally-developed assessments create a standardized program for identifying talent and measuring potential.
  14. 14. A reliable and validated assessment will accommodate three requirements: • Define the criteria • Make the criteria measurable • Use tools to measure the high-potential criteria Several assessments are available to help managers identify and promote high-potential employees, including Profiles International’s ProfileXT® and Profiles Performance Indicator™.
  15. 15. For More Information on Identifying High-Potential Employees A high-potential employee doesn’t become a high performer overnight. First, you need to identify your high potentials. Then, you must help them become all they can be. This new eBook will help you understand the process, and will outline ways for you to improve overall performance. Visit http://info.profilesinternation- tials/ to download your copy today.
  16. 16. About the Author Michael Wilk is VP of Corporate Marketing of Profiles International, a research-focused company that helps organizations worldwide create high-performing workforces. Visit us at php or call 866-751-1644 for more information about identifying High Potential Employees.