HR Virtual Learning Zone Panel Discussion on Hi-Po Management
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Transcript of HR Virtual Learning Zone Panel Discussion on Hi-Po Management
Hi-Potential Management
Benefits & Challanges
Document Classification: Confidential2
Defining High Potential
“Ready Now” talent with the relevant capabilities to move into positions ofgreater scope and responsibility.
Facts
Alarmingly, only 13%1 of senior executives and human capital managers today believe their organizations have ample leadership pipelines.
According to a Right Management Conference Board survey of 210 executive-level human capital professionals in Asia, 45 percent of respondents indicated that their leaders are not prepared or only marginally prepared to address the business challenges ahead. That really means 45 percent are willing to admit they may not be prepared.
Document Classification: Confidential3
How to create a Hi-Po Management System
Communicate whatever can be communicated….
01 Before understanding the ‘How’ part, it is important to understand the ‘Why’ bit.
02 Couple of important considerations for such system would be- ‘What is the
coverage’? ’What is your definition of hi-potential’? ‘What purpose you want it to serve ?
03 Important to understand if Hi-Po is a critical skill or critical person?
04 Important to have complete leadership buy in from design perspective. Keep
selection purely on merit (not necessarily only on data)
05 Should have an exit mechanism – potential need to be realised
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Document Classification: Confidential
Foundation for Success
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Strategic Structured approach to Talent Development
AssessIdentify Develop Engage
Document Classification: Confidential
Poll Question
5
.
War of Talent is the next big deciding factor for organization's of future? Can effective Hi-Potential Management be the answer?YesNoCan’t Say
Document Classification: Confidential
Key Benefits
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Retaining top talent – Competitive
Advantage
Reward for PerformanceBusiness Growth
Motivational/Aspirational
Document Classification: Confidential
Key Challenges
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Retention effort only for selected few
Organisations invest too much money on Hi-Po and others feel
neglected.
It is important to make programs for more than significant few
Creates more conflict & competition than collaboration
Results are very difficult to measure..we end up
measuring retention than value creation
Document Classification: Confidential
Basics to keep in Mind
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Measuring the ROI w.r.t business deliverables of a Hi-Po framework
ROI depends on what organisation wanted to get out of system It could be retention of Hi- Po It could be multiple growth of organisation It could be creating future generation of leaders
ROI measurement should be clear from the start – for all stakeholders
• These programs can either be aspirational or completely demotivating. We need to be careful to make it aspirational
• It is important to keep exit mechanism from these programs, but exit from the program should be communicated in advance else it could set demotivation
Document Classification: Confidential
Avoiding 3 most common pitfalls
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Using outdated success profiles
Failing to create a credible, trustworthy and structured development program
Confusing high performance with potential
Document Classification: Confidential
Engaging Hi-Po
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Careful allocation of roles and responsibilities
Should be either classified as critical talent or should have critical skill
Should not be doing routine jobs which can be done by anyone
Should do roles which are unique and at least 1-2 level above their experience/title etc..
Use a Development Centre
Career Planning
One on One Coaching
Comprehensive reporting
360 degree .
Engaging and Cultivating Hi- Po employees to stay and perform
Document Classification: Confidential
Role of HR
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Identify Develop Reward Deliver
Leadership Involvement, Buy In, Change Management
Document Classification: Confidential
Summary
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Organisation Strategy
Build Vs Buy Decision
Define Potential
Create Identification
Measures (competency, values, track
record)
Identify clear road map for each Hi-Po
Buy-In from all
stakeholdersCommunicate
Document Classification: Confidential
Thank You!
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