More important than the exact definition of high-potential talent, though, is\u00a0understanding\u00a0how your talented individuals experience being a high potential<\/em>\u00a0in your organization.<\/strong><\/p>\n Talent management represents an organization\u2019s efforts to attract, develop, and retain skilled and valuable employees. Its goal is to have people with the capabilities and commitment needed for current and future organizational success. An organization\u2019s talent pool \u2014 particularly its managerial talent \u2014 is often referred to as the leadership pipeline.<\/p>\n The leadership pipeline is designed to help the organization source, reward, evaluate, develop, and move employees into various roles. The pipeline bends, turns, and sometimes breaks as organizations identify who is \u201cready now\u201d and who is \u201con track\u201d for larger leadership roles. From this perspective, talent management is something done to and for an organization\u2019s high-potential talent, in service of the organization\u2019s needs.<\/strong><\/p>\n But employees and managers who are inside the leadership pipeline don\u2019t operate solely as a stream of talent to be funneled and directed by the organization.\u00a0They bring their perspectives and experiences to the process, too.<\/p>\n To examine talent management through the eyes of high-potential managers, we conducted a research study<\/a> surveying 199 leaders attending our development programs. The findings have implications for how organizations identify, invest in, and leverage their high-potential talent.<\/p>\n Here\u2019s what we\u2019ve learned about the perspectives of high-potential talent and their view from inside the leadership pipeline.<\/p>\n Findings from our research reveal 3 ways to retain high-potential talent:<\/p>\n High potentials are more committed and engaged when they have a clear career path.<\/strong> The most frequently mentioned way to increase commitment and engagement among all high potentials is to help them identify a career path. High potentials want to have a picture of where they\u2019re going and to understand the next steps in terms of development, experience, and movement. A yearly development plan may not be enough to increase the engagement and commitment of your high-potential talent without a clear career path and progression.<\/p>\n High potentials also expect more development, support, and investment \u2014 and they get it.<\/strong> Not surprisingly, our research found that high potentials receive more development opportunities \u2014 such as special assignments and training as well as mentoring and coaching from senior leaders \u2014 than other employees. This is as it should be; in our survey, 84% of high potentials agreed that organizations should invest more in them and other valuable talent.<\/p>\n When a high potential is provided a special assignment, it likely means their level of responsibility has increased.<\/strong> Special assignments are described as high-profile work, participation on a task force team, as well as role rotations. While it may seem that organizations just reward their high-potential talent with more work, the assignments are often viewed by the recipients as opportunities, not burdens.<\/p>\n As high potentials receive greater responsibility, they are also looking for greater authority to make decisions that have a significant impact<\/strong> on the organization. High potentials are often given more visibility and access to senior managers than other employees. This visibility translates into greater recognition across the organization. They\u2019re also included more often in senior meetings and have their opinions sought after more frequently, which increases their engagement and commitment to the organization.<\/p>\n To retain high potential-talent, organizations should also be sure that high potentials receive plenty of communication about the pipeline process and <\/strong>more feedback on their performance<\/a>. It appears that organizations are succeeding in challenging their high-potential talent with developmental assignments and providing support in the form of training, but could do more by providing high potentials with an honest assessment of where they stand and offering direct communication about the next steps.<\/p>\n The degree of transparency and formality of notifying employees of their status as a high potential impacts how employees see themselves and how they see the organization.<\/p>\n In our study, we found that participants who are formally identified as high-potential talent are more likely to consider themselves high potentials than those who were informally identified.<\/strong> It seems that official recognition fosters the leader\u2019s identity as a high potential. Without that recognition, leaders may doubt or second-guess their skill level or importance to the organization.<\/p>\n This implies that positive feedback, a good track record, or informal acknowledgment of one\u2019s value is not<\/em> equivalent to “official” status as a high potential, as recognized by the organization.<\/p>\n Formal identification as a high potential is important for retention.<\/strong> Most of our survey respondents (77%) placed a high degree of importance on being formally identified as a high potential in their organization. The study showed several clear differences between high potentials who have been formally named and those who are perceived to be high potentials:<\/p>\n High potentials feel good about their status \u2014 but it has its downside.<\/strong> Survey respondents generally expressed positive feelings about being identified as a high potential by their organization. At the same time, the designation isn\u2019t exclusively a win for those in the pipeline. For some, there is a feeling of increased pressure or anxiety around high expectations or performance; others experience frustration around the organization\u2019s unclear intentions.<\/p>\n The findings from our study serve as a reminder that effective talent management is not a one-sided effort. Looking at the leadership pipeline through an organizational lens has important implications for how to identify, develop, and engage high potentials.<\/p>\n Examining talent management from the perspective of those in the pipeline suggests 3 key strategies for organizations to consider:<\/p>\n Given the value that high potentials place on access and opportunity, organizations need to consider how clear and direct they\u2019re being about the degree of investment high-potential talent can expect.<\/p>\n The degree of transparency and formality in your process of identifying high potentials impacts how employees see themselves and the organization. Organizations should understand the implications of their approach and weigh the tradeoffs.<\/p>\n A mutually beneficial relationship means addressing the benefits individuals receive as employees of the organization, but also takes into account and makes explicit the benefits the organization receives from its employees.<\/p>\n High potentials receive the investment in development they want from their organization, and organizations receive not only a more committed and engaged group of leaders but also stronger performance and bottom-line results.<\/p>\n Leaders play a critical role in the development process of high-potential talent, and they can improve the talent development process with better talent conversations<\/a> at the right times and in the right places.<\/p>\n The organization\u2019s investment in a high potential\u2019s development shouldn\u2019t stop with that individual.<\/strong> Because of the influence that high potentials possess, organizations should consider the ways in which high potentials may play a role in identifying and developing the organization\u2019s next cadre of future leaders.<\/p>\n Make it clear that \u201cmoving up\u201d means developing others.<\/strong> Hold high potentials responsible for developing potential in others \u2014 and hold their bosses accountable, too. Help high potentials learn how to use challenging assignments and coaching to develop the talent around them. They definitely need to know how to hold coaching conversations<\/a> with others.<\/p>\nLooking at the Leadership Pipeline? Consider the View From \u201cInside the Pipe\u201d<\/h2>\n
3 Ways to Retain High-Potential Talent<\/h2>\n
Research-backed Tactics for Retention<\/h3>\n
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<\/a><\/p>\n1. Career Pathing & Support<\/h4>\n
2. Greater Authority<\/h4>\n
3. Feedback & Communication<\/h4>\n
The Impact of High-Potential Talent Identification<\/h2>\n
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3 Key Strategies for Leveraging High-Potential Talent<\/h2>\n
How to Make the Most of Your Pipeline<\/h3>\n
1. Be deliberate about process transparency.<\/h4>\n
2. Create a mutually beneficial relationship between the organization and the talent.<\/h4>\n
3. Leverage high potentials as developers of talent.<\/h4>\n