The era of talent management encompasses the strategic management of human resource in an entity. Different authors have provided different definitions, the one provided by Chartered Institute of Personnel and Development (CIPD) London states, “Talent management is the systematic attraction, identification, development, engagement, retention and deployment of those individuals who are of particular value to an organization, either in view of their ‘high potential’ for the future or because they are fulfilling business/operation-critical roles.”
According to Pascal (2004), “Talent management is managing the supply, demand, and flow of talent through the human capital engine.”
The major problems that organizations are facing are how to sift the potential talent and how to retain them for longer aspects? Well, let me give you first the definition of potential. Oxford dictionary defines potential as “Having the capacity to develop into something in the future”.
As per Harvard Business Review article by Aráoz, C.F., Groysberg, B. & Nohria, N. (2011, October), “Potential indicates a person’s ability to grow or succeed in the future and to handle responsibilities of greater scale and scope in the future.”
Before getting an idea about sifting of potential employees you must be aware about the word High Potential Employees because without knowing the meaning you cannot make a difference between a high potential employee and the one which is not. Harvard Business Review researchers Jay Conger, Douglas Ready and Linda Hill describe high-potentials as individuals who outperform consistently and significantly among their groups in diversified situations. High potential employees hold and display their behaviors as a reflection of an organization’s values. They know their career path and grow successfully in an organization quicker than other group members.
The most successful businesses are those who understand their high potential employees and work to increase their retention rate. These employees or talent are the most targeted people and industries are always looking for them, rivals are searching for such people and want to have them for themselves. A company spends millions of dollars in training high potential employees, identifying such talent and work on them to make their own intellectual capital but what if they leave your business? For a business, identification of such talent is possible; rather they need to work to retain them. Talent management teams all over the world are working on this serious issue.
The main task is to sift the high potential employees with high performers and low potential employees. Successful companies understand the current performance of talent and potential advancement in the future, which are two different dimensions.
The job is on performance measurement to determine the high potential employees at the start of the process along with the business results and behaviors that are expected to be in the leaders of tomorrow. Those who are solely relying on performance measurement, which can happen after six months or a year as the means of assessment of potential employees, may be neglecting the importance of losing high potential employees but also are unaware of the importance of time. There is a talent war going on in the industry in which only those win who have identified the potential talent quickly and work on their retention.
Ten elementary characteristics of High Potential Talent
One can easily identified high potential employee by taking into consideration the ten elementary characteristics:
- Potential employees deliver durable results quickly
- They are Integral and hardworking
- Possess high credibility
- Demonstrate willingness to move forward, never rely on other’s expense.
- Holds leaders quality and lead their teams without a conflict
- Own and masters their expertise
- Take decision for the best interest of the company
- Actively participate and embrace behaviors that reflects company’s values
- Grow consistently throughout their careers and know their career path
- They are emotionally stable
Rob Silzer and Allan Church High Potential Integrated Model:
Rob Silzer and Allan Church High Potential Integrated Model:
Silzer, R., & Church, A. (2009) have come up with an integrated model of high potential employees that will help in granting more room for your diversified talent pool. The model has identified the three most important dimensions: foundational, growth and career.
The first dimension is Foundational Dimensions, which are consistent in nature and unlikely to change. High potential employees possess cognitive attribute, they are conceptual strategic thinkers, encompass cognitive abilities and are able to deal with complex issues and situations. The other fundamental dimension is their personality, these employees possess strong interpersonal skills, are sociable, dominant, emotionally stable and resilient; they are flexible to change with the circumstances, people and settings.
The growth dimensions of high potential employees facilitate growth in different areas and have two aspects; learning and motivation. The potential employees welcome learning, are adaptable and open to feedback. Their motivational level is high, which drives them to achieve their career ambition and take risk accordingly. These employees are energetic and result oriented.
The career dimensions are the indicators of potential employees’ skills according to their area of expertise. The most important quality of leadership can be seen in them. They know how to manage people, influence others, challenge status quo and accept change management. Their leadership capabilities influence their followers to follow their path for the betterment of company and in achieving their career paths. High potential employees have functional and technical knowledge with strong expertise. They are cultural fit as they quickly grasp organizational settings and adapt to career relevant values and norms.
High potential employees have excellent performance record throughout their working career. They are great listeners and they give time to others and let them speak. Their Intelligence Quotient and Emotional Quotient are also good. They know their direction and give serious considerations to their important work. Their readiness and adaptability to accept the changes are high.
On the contrary, employees who are not potential but are high performers must also be differentiated. Potential talent is most crucial to organizations as they have the quality to become future leaders however, the high performers are result oriented but they lack the quality to lead others. They are more focused on the path that is dedicated to them by the superiors. They follow the instructions and complete their tasks only. High potential employees have strong instinct power; they are flexible and can mold themselves according to the situations and challenges.
In the end, for organizations to manage their talent significantly, they have to categorize their employees as high potential, low potential, high performers and poor performers. They should arrange trainings in a manner that can bring low potential employees to upper level.
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