Download the article 5 Succession Planning Traps to Avoid When You Want to Retain High Potential Employees to perform at your peak and stay ahead of the competition.
Most companies understand the importance of succession planning and of identifying high potential employees or HiPo’s. They know they need a pipeline of top talent, ready and able to take on important positions of leadership when the time is right. Without leaders-in-waiting, the organization’s future health could be at risk – especially during times of hyper growth or leadership transitions.
There are multiple approaches to nurturing these talent stars…from leadership development programs for the select few to special and very visible project assignments. The sad part is that these approaches are often not enough for top performers. One might expect that identified and specially-treated high potentials would be very engaged in their jobs. In fact, however, as many as 20% of this group in the companies completing our employee engagement surveys were planning on leaving their current company within the year. These succession planning traps surprised us.
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