Is this a good time to re-evaluate your HiPo program?
High-potentials are far more valuable than other high performing employees in driving business success and sustainable value. Working with high potentials in a HiPo program should be exciting and stimulating. So why do more than 50% of participants drop out of HiPo programs?
The biggest problem is identifying the people who really have the potential to lead the organization in the future. Ask a manager to list top performers and then ask them to list those with the most potential. Invariably you will get two nearly identical lists. The hard truth is that managers don’t have an objective way to measure future potential. They can only tell you who is performing well today and unfortunately this isn’t good enough.
Only about 15% of individuals in HiPo programs have the potential to drive the organization. For the other 85%, the HiPo program is unlikely to deliver what you hope. And worse, an unsuccessful program discourages those 15% of true high potentials who are key to the business. HiPos are frequently not easy to manage. They are driven, difficult, will not accept no for an answer. If the HiPo program they are enrolled in does not challenge them and meet their expectations they will not waste any more time. They will look for opportunities with competitor organizations who they believe will better recognize their capabilities. Without having the right HiPo program in place you may be wasting your effort and actively chasing away your best people.
A well-designed HiPo program will deliver you a pipeline of leaders ready to take up key positions in your organization. To ensure your program is successful incorporate these four steps in your HiPo program design.
Following these four steps will build a HiPo program that will quickly become the bedrock of your talent pipeline. It will improve your understanding of your talent population, increase business development capability and improve engagement in your most promising people.
hfi can help you to design an effective HiPo program but only when we know the calibre of the HiPos you have! Our PeopleFactors AI system will quickly and cost effectively distinguish the high performers of today from the high potentials of tomorrow.
If you would like support with the execution of an A-class HiPo program contact us today!
Author Charlie Atkinson, CEO of hfi
7th December 2018