Pearson - Best Practices in Developing High Potential Employees
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Learn best practices for identifying & developing high potential employees. Based on data from a research study.
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Pearson - Best Practices in Developing High Potential Employees
- 4. Selected List of Participating Organizations Intel International Paper Mass Mutual McGraw Hill Nestle PPG Industries RHI Sprint Sun Microsystems Verizon Vanity Fair Visteon Corporation 3M Abbott American Express Bank of America Chevron Cisco Dell Dow Farmers GlaxoSmithKline Hallmark Ingersoll Rand
- 5. Priorities in Executive Development
- 6. U.S. Live Births 1905-2005 Birth Chart Build 1905 GI Generation 56.6 Million Silent Generation 52.5 Million Generation Y 79.5Million Latino Immigration 40 Million+ 1945 Baby Boomers 78.2 Million 1925 1945 1965 1985 Generation X 69.5 Million
- 8. Processes Used to Identify High Potentials
- 9. Competencies Most Lacking in Next Generation Leaders
- 10. Processes Most Effective in Accelerating High Potential Development
- 13. List of Participating Organizations 2007 ARM Dow Chemical McGraw Hill Companies Royal Bank Canada Phillips Macy’s Inc. (formerly FDS) General Mills Federal Aviation Administration Eisai Pharmaceuticals McDonald’s Inc. Chesapeake Energy 2005 First Data Corp BP America Ford Visteon Abbott Honeywell Aetna Texas Instruments McDonald’s Navy Federal Federated Department Stores
- 19. Best Practices for a Successful Program
- 22. Our Book!
Notas del editor
- When we asked what companies were focusing on in their executive development programs we found that since 2004, the #1 priority has been the development of high potentials and because of the demo it’s only going to increase going forward.
- There are 11% fewer Gen Xers than Baby Boomers.
- When we asked HR Executives how they identified High-potentials, here is what we found.
- When we asked HR Executives what were the Top 5 Competencies Mot Lacking in Next Generation Leaders, they said that Strategic/Critical Thinking was #1 followed by Leading Change…
- We pulled together the 2005, 2007 and 2009 research combined with our day-to-day experience of working across Global 1000 organizations who are developing their talent and here are the results.
- Do they Shine: Do they stand out from their peers? Passion and ambition are significant factors in being identified as high potential in this group. Emerging leaders rise above their peers as they become “go to” people when challenging opportunities arise.
- Time Executives Spend Developing High Potentials: Average: 24% High: 75% Low: 5% Conversations around development were more often cited as a strategy for accelerating development of Executives (42%) versus Emerging Leaders (26%). “ If the timing is right, I can move them straight away into a completely different role where they can grow broadly across the business and prove to us that they do have that capability outside of a single function where they are – typically it’s outside of where their mainstream education was.” “… Giving them a piece of work, giving them the space to show what they can do but then supporting them in that, and invariably I have discovered that has caused people to knock the ball out the park.” Mentoring was also frequently mentioned. A mentor’s role included facilitating developmental conversations and creating opportunities for increasing visibility in the organization “ It really is about giving people increased opportunity, bigger roles, empower them more, and watch closely to see if they step up to each increased level of responsibility and how they handle it “ The first step is to define the difference between being a manager and being a leader. A leader is someone who unleashes people's potential.” Accelerating the Development of High Potentials is somewhat debated: “When you’re giving somebody a fast track assignment, it means you’re giving them an assignment where the risk of failure is substantially higher than their normal duties. You need to provide a safety net, so you want someone senior enough and seasoned enough not to let this fast tracker get into serious trouble.” One Key Finding - Support can be provided through a mentor or external executive coach. Failure on an intensive stretch assignment can lead to a very negative experience for unsupported fast trackers. If you decide to accelerate development stretch assignments with support are the #1 way we find companies are doing this followed by exposure and rotations. Exposure to top management creates a fast paced and exciting development experience. Increased decision-making and cross-organizational view prepares the high-potential for the next step. Final thoughts: You just can’t watch and expect people to grow . You’ve got to get involved in it very personally for the person as well as just to build your skills sets around what’s going on as the market changes, as graduates change, as talent changes, you have to be out in the middle of it. “ It is the most important thing I do. I have a friend who says if people are truly our most important asset we’d paint them every year.”