Rebranding Workplace with High Potential Programs for Talent
Published by MBA Skool Team, Published on July 22, 2013
After Interacting with my fellow batchmates and peers across reputed b schools regarding their summer internship experience , I came to know that most of them like me where given a project on career management or designing/redesigning of high potential programmes for key talent which brings us to a question: Why is there a need for a High Potential Programme at workplace? This essay through its course tries to explain the same.
Introduction: Today organizations, under the total rewards framework, want to project workplaces as the best place to work for. They dedicate a substantial amount of resources in programmes for identifying and developing key talent. The rationale for the same is that businesses today are in a constant state of flux, the macro environment poses extreme challenges hence workplaces need to be branded as one of the best places for career and talent management and hence in order to retain key talent, the presence of a high potential programme is justified.
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Key Aspects: The introduction of any high potential programme starts with the communication of the business head, the CEO. The communication starts with with the introduction of the programme and its need, The CEO projects that as part of its commitment to talent, the organization will provide resources to support development, and will identify the right opportunities for the key talent to network and increase visibility with peers and senior managers .
Subsequently, HR department rolls out “Talent Expectations” which outlines the support and opportunities made available to all Key Talent’s, as well as the Key Talent’s commitment to the organization. It serves as an effective medium for Key Talent’s to commit back to the organization. When the organization and the Key Talent are aligned in their expectations of performance and scope of responsibilities, the Key Talent is 30% more likely to be highly engaged .
Selection: The selection of the key talent pool that will be part of the High potential programme can be selected through the previous ratings in the performance management cycle and through inputs from the senior management team
Communication: The Key communication for people not selected in the high potential programme should be that the organization conducts regular training sessions for all employees on various organization-specific and role-specific skills and also requires managers to hold regular development-focused conversations with all employees and identify appropriate formal development and on-the-job development opportunities, in short if they are not a part of the talent pool now they can be in future.
For people selected in the talent pool, there should be a development program that includes intensive coursework, participation in special projects/tasks, mentoring/coaching, and/or a role change with a possibility of relocation. They would be expected to maintain high performance levels in the current role. They would be expected to be a role model for other employees across the organization by demonstrating organizational values.
A key communication to be meted out should be that being identified as a part of the key talent does not imply a pending promotion or a raise and therefore does not involve any monetary increases. It should be viewed as a development opportunity provided to accelerate one’s growth into leadership positions .
Also, The Talent pool should not be static; continued participation as a member of the Talent pool is also not guaranteed. Individuals can and will rotate out of the pool, and may rotate in again in future cycles.
Conclusion : A higher salary can always lead a key talent to make a move into another organization, however if a workplace is branded as a best place to work for career management, the organization can have a stable talent pipeline for future, hence high potential programmes is the need of the hour.
This article is authored by Sujoy Das by XLRI,Jamshedpur