Learning and development of high-potential leaders within organizations tend to take a backseat in times like these (a global pandemic and recession). However, we believe these uncertain times are the best time to prioritize your future leaders, investing strongly in their potential growth, and securing their retention within the role. It is more crucial than ever to continue employee development efforts to build a capable workforce and plan for the future of your business.
Organizations with weak leadership pipelines only grow revenue and profit half as fast as those with strong pipelines, highlighting the relationship between ongoing development and organizational growth.
Your Leadership Pipeline
High potential employees (HiPo’s) represent a company’s strongest leadership pipeline. In fact, research finds that HiPo’s exert 21% more effort than non-HiPo peers and have a 75% chance of success in roles that are imperative to business performance and the succession pipeline. Studies show stronger financial performance in companies that make greater investments in identifying and developing their HiPo’s (1) As such, consider retaining and developing HiPo’s as an investment in your company’s future.
Who are my High Potentials?
A square is a rectangle, but a rectangle is not a square. What does geometry have to do with your leadership pipeline? It doesn’t – but it reminds us of the common misclassification of high performing employees as high potentials (HiPo).
While HiPo’s are often high performers, not all high performers are HiPo’s.
HiPo’s show a combination of drive and motivation; high learning aptitude and potential; and consistent demonstration of key competencies (i.e., performance). These individuals show the “intellectual aptitude and leadership capacity to progress through multiple roles of increased responsibility, complexity, and scope” (2).
Developing Future Leaders from a Distance
Retaining your top talent requires you know what really drives them. Research highlights common themes for HiPo retention factors which include development, career advancement, and opportunities for new challenges (3).
While the desire for ongoing development among HiPo’s and future leaders is not new knowledge, it does pose novel challenges as many companies, like Google, have committed to continue remote work until at least summer 2021. As the world shifts to remote work, you too may be considering ways to continue nurturing your leadership pipeline and ensure HiPo’s are not only engaged but building the capabilities they need to succeed in the future.
Pre-COVID, 50% of companies saw digital transformation as a strategic priority, but that number has increased to 80%. In a survey of HR professionals, 50% cited technology will be the top use of additional funds and 79% believe self-serve apps and portals will be important tools for meeting workforce needs.
Pinsight for Virtual Leadership Development
With many employees now working more hours across more meetings, a self-serve app focused on leadership development can provide HR leaders peace of mind knowing their HiPos have the tools they need to engage in daily skill development, which is critical to their ongoing growth and retention.
Pinsight offers virtual leadership development technology for HR leaders interested in identifying employees with leadership potential and provides them with daily development activities. Improvement analytics based on logged practice aids HR leaders in managing succession planning efforts and building leadership pipelines – all done remotely.
From identifying high potential employees, to providing personalized development plans and analytics, and easily tracking improvement, Pinsight’s leadership development platform has the tools you need to ensure the health of your succession pipeline and retain your top talent by engaging and growing your HiPo’s from a distance.
Source : https://www.humanresourcestoday.com/?open-article-id=14467742&article-title=keep-high-potentials-engaged–remote-development-for-future-leaders&blog-domain=pinsight.com&blog-title=pinsight