Losing Top Talent Can Derail your Strategy
If you want to avoid losing top talent, fill your company’s leadership pipeline. In fact, one of an executive team’s most important strategies for the future growth and health of the organization is to build leadership capabilities for key roles. Yet few companies do this well.
Select the Right High Potentials
They may identify high potential employees and have a HIPO program to groom them, but their selection criteria are often flawed and generic programs typically miss the mark. If you have chosen a few stars to ride the roller coaster to the top, make sure you have reviewed the following tips on how to do it right.
1. Choose High Performers Carefully
In singling out high performers for special treatment, be sure you consistently and fairly apply the right criteria. Certainly they need to have the ability. But many companies make the mistake of assuming that the ability to perform well in their current job qualifies them to perform well in other, broader and more significant roles.
As best you can, make sure they have the technical, emotional and intellectual capabilities that strong leaders need to succeed in progressively higher level and more complex positions. Then assess their true level of engagement with your company. You should not assume that they are as committed to the organization as you are to them.
Our own employee engagement research tells us that up to 25% of high potentials expect to be looking for another job within the year. Additionally, clients tell us that as many as 20% of high potentials do not believe that their personal goals align with what the company plans for them. These statistics highlight a serious disconnect and a big opportunity.
2. Treat High Potentials Well
In terms of rewards and recognition, high potentials should earn more because they add more value. Even when times are tough, your top talent should be regularly rewarded in any way that you can. High potentials count on being noticed and appreciated for their contributions and should receive the greatest share of the rewards.
To make sure you are not at risk of losing top talent, treat them specially but do not protect them from the realities and challenges ahead. They should have important assignments that test their:
3. Share Information and Involve in Future Corporate Strategies
To keep high potentials engaged, give them opportunities to be actively involved in the future direction of the company. High performers need to feel confidence in senior management and in the plans going forward. When they are given access to information and an active role in planning the company’s strategic direction, they are much more committed to staying loyal.
To make sure you are not at risk of losing top talent, invite them into the executive suite to learn and grow about what it takes to perform at the next level.
The Bottom Line
Engaging and retaining top talent matters. Don’t risk losing top talent. Select your rising stars thoughtfully, recognize them with special rewards, and challenge them to help build the company in a way that keeps them aboard.
To learn more about retaining your top talent, download 2 Steps for Every CHRO to Retain Top Performers
Corporate Change Is Personal
We recently partnered with LSA Global to offer our Supervisors and Managers a customized two-day management training program. Everyone who attended said it was by far the best management training program they had ever attended. The content was rich and highly interactive. The case studies were relevant. Each participant walked away from the training much better equipped to lead their teams.
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We partnered with LSA Global to help us invest in our people in the areas of performance coaching, diversity, and inclusion. They focused on helping us succeed and were very flexible in meeting our specific needs. LSA Global exceeded my expectations from a speed, quality, and value standpoint. I would recommend LSA Global to anyone looking for a true business partner.
Director, Human Resources
We consider LSA our true business partner in the areas of Learning and Organizational Development. From Strategic Planning to Presentation Skills and Management Training, they continue to provide excellent value and extremely high quality solutions – not just one time events. I recommend them to anyone looking to drive true business results.
Michelle A. Mitchell
Vice President, Worldwide Human Resources
We recently contacted LSA Global to assist us with a unique training request. We gave LSA a very short deadline and LSA custom designed a training program to meet our exact requirements within the limited time allotted to them. We found their facilitator to be well versed in the subject matter and very credible; the design provided practical and valuable information to our team of managers. I highly recommend LSA Global, particularly in the area of management training.
Julaine K. Souza
Senior Vice President
We consider LSA Global our outsourced learning and development partner. We worked closely with LSA to customize a management development program to meet our growing business needs. I would highly recommend LSA to any company wanting to deliver quality learning solutions.
Vice President Human Resources
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Director Human Resources
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Human Resource Manager
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Vice President of Human Resources
LSA provided top notch solutions right when and how we needed them. They exceeded my expectations from a speed, quality, and cost standpoint. I recommend them to anyone looking for a true business partner in the Learning and Development arena. The breadth and depth of their expertise has helped us hit tight deadlines across multiple projects.
Fortune 500 Financial Services Company
Director of Infrastructure & Technology
I’ve partnered with LSA Global at two companies now, and I consider them a valuable and trusted training and consulting resource. They recommended just the right solution to address our management development needs and have wonderful facilitators that match YuMe’s culture and style of our management team. I would highly recommend LSA Global to any company wanting to deliver quality learning solutions with a valuable learning and development partner.
Congratulations on your pro-activity in establishing this program and developing such an effective New Employee Orientation course.
President and Chief Executive Office
LSA has become the gold standard in team building and management training at Genomic Health! I have a hard time finding facilitators that come close to their level of customization, expertise and experience.
Director of Human Resources
For our go to training outsourcing partner, LSA provides exactly what we want. As always, they deliver outstanding work!
Director, Organizational Excellence & Development
PalmSource has found our relationship with LSA extremely beneficial. We worked closely with LSA to customize the right Management Training Program solution to meet our unique business needs. LSA is a quality organization, one that I’d recommend to any company looking for a first class training and consulting partner.
Vice President of Human Resources
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