5 Steps and Tools to Identify, Develop, and Retain HiPos
10/16/2023 Gartner research has shown that HiPos exert 21% more effort compared to non-HiPos. At the same time, CEB states that the turnover rate of HiPos is 30% and more than 50% of organizations are ineffective at identifying, managing, and retaining top talent. Do you have what it takes for HiPo identification and management?
High potential employees (HiPos) are often viewed as the future leaders of an organisation and should be identified early and developed effectively. Gartner research has shown that HiPos are 91% more valuable and have a higher likelihood to exert 21% more effort compared to non-HiPos.
- High Attrition: CEB stated that the turnover rate of HiPo employees is 30% while more than 50% of organisations are ineffective at identifying, managing, and retaining top talent.
- Low Performance: The Corporate Leadership Council reported that 40% of HiPos have insignificant performance levels. 40% of internal job moves by HiPos end in failure while fewer than 15% of direct reports were ready for immediate transition to subsequent roles.
The question is, do you have the right tools for high potential identification, management, and retention? Time to find out!
What are High Potential (HiPo) Employees?
HiPos are the employees in your team who display a high propensity for learning and growth within a current role, as well as the potential to fill an expanded role. HiPos are usually highlighted as staff with key qualities that portray them as highly beneficial contributors to the organisation, the business, and its future success.
It is important to note that HiPos also exhibit managerial competencies which are not shared by every top employee in your organisation. Many often aspire to move into a senior role within the business and plan to get there in the shortest possible time. While high performers seek to excel as individuals, it is the high potentials who desire to do well collectively.
The Difference between High Potential and High Performance
High potential and high performance are often misidentified and this is because the two traits aren’t always mutually exclusive. High potential employees can be seen as high performers, the same isn’t always true with high performing employees.
High performers are naturally high achievers and may find it challenging to achieve results when they move into management roles. High potentials, on the other hand, are results-driven and possess an aptitude for leadership qualities necessary for business continuity.
High Performers
High Potentials
- High achievers
- Excel in their current roles
- Function extremely well on their own
- Ability to remain focused on tasks given
- Results-driven
- Excel in a group setting
- Possess aptitude for leadership qualities
- Have potential to be in management roles
Mistaking high performers for high potentials can cost an organisation time, money, and even employees. Find out more about the differences between high performance and high potential here.
5 Tools to Develop and Retain HiPo Employees
Once you have identified your high potential employees, you now want to develop and retain them.So, how do they fit within your organisation’s plans? A more scientific approach involves a variety of the following assessment tools:
- Personality profiling assessments
- Assessments and development centres
- High-Performance Trait Indicator (HPTI)
- 9-box grid
- 360-degree feedback
Personality Profiling Assessments
Personality profiling tests are used to assess employees for high potential, the essential traits for a particular role, and whether they can excel within that role.
Assessments and Development Centres
Roleplays, simulations, group discussions, presentations, as well as psychometric and aptitude tests are some activities of an assessment and development centre. Used in tandem, they make excellent tools in identifying high potential employees.
High Performance Trait Indicator (HPTI)
HPTI assessments are identification tools that assess employees with prospective leadership abilities, their leadership strengths, and their areas for improvement. HPTI assessments can also help to:
The 9-Box Grid is an individual tool that evaluates an employee’s current and potential level of contribution to the company based on their performance and potential.
360-Degree Feedback
According to a survey by Mettl, more than 30% of organisations have used a structured 360 feedback tool for their HiPo identification process and employee performance assessment. It is a reliable and objective method of tracking employee performance based on multiple feedback sources.
Read More: https://accendotechnologies.com/blog/5-steps-and-tools-to-identify-develop-and-retain-hipos
Personality profiling tests are used to assess employees for high potential, the essential traits for a particular role, and whether they can excel within that role.
Assessments and Development Centres
Roleplays, simulations, group discussions, presentations, as well as psychometric and aptitude tests are some activities of an assessment and development centre. Used in tandem, they make excellent tools in identifying high potential employees.
High Performance Trait Indicator (HPTI)
HPTI assessments are identification tools that assess employees with prospective leadership abilities, their leadership strengths, and their areas for improvement. HPTI assessments can also help to:
- Discover the next generation of leaders
- Boost self-awareness and resolve skill gaps
- Increase employee retention
The 9-Box Grid is an individual tool that evaluates an employee’s current and potential level of contribution to the company based on their performance and potential.
360-Degree Feedback
According to a survey by Mettl, more than 30% of organisations have used a structured 360 feedback tool for their HiPo identification process and employee performance assessment. It is a reliable and objective method of tracking employee performance based on multiple feedback sources.
How to Build an Effective HiPo Strategy in 5 Steps
We get it. Developing talent is expensive. But effective HiPo programs can be well-oiled, profit-generating machines when done right. Implementing the right HiPo program starts with the following steps:
Step 1 – Identifying
Identify your successors for talent readiness to strengthen your succession pipeline and build a HiPo framework model to gauge the extent of a talent’s capabilities. Talents who score high are more likely to display high potential and ability in handling greater challenges. This can be done using personality profiling assessments, assessment and development centres, HPTIs, and 360 feedback.
Read More: https://accendotechnologies.com/blog/5-steps-and-tools-to-identify-develop-and-retain-hipos
About This Author
Accendo Technologies exist because companies struggle to align talent with business strategy and need a completely new approach to managing talent.Our cloud technology platform integrates with core HRMS solutions and allows organizations to understand their talent, identify talent risks, conceptuali…