High potential employees can shape and lead an organization into the future, but identifying and retaining high potentials goes beyond assigning a label or offering frequent promotions. Rather, it requires careful examination of who your high potentials are, what they are motivated by, and the optimal development path that unleashes their full potential. As you set out to develop your high potential employees or build a comprehensive HiPo program, it will be beneficial to adhere to the following best practices.
Cultivate an Understanding of What Motivates a High Potential
High potentials are often looking for their next big achievement and want to exceed expectations. To retain them, you will need to provide the tools, resources, opportunities, and knowledge that will keep them challenged and enable their continued high performance. Without addressing those needs, you run the risk of your high potentials becoming disengaged and leaving your company for one that will meet them. In fact, one study found that nearly 60 percent of highly engaged high potentials planned to stay with their company, but only 23 percent of low-engaged high potentials intended to stay.
Some of the important motivators that can help to retain high potentials include:
- Providing frequent challenges that keep them engaged in their job and with the work your organization is doing
- Freedom to act without feeling micromanaged
- Resources that are readily available, which include tools, technology, and even other people
- Mentorship opportunities with other successful high potentials or company leaders
- Cross-functional opportunities that allow them to learn more about how the greater organization works
