3 Tips to Retain High-Potential Talent

Business leaders need to find ways to retain high-potential talent in their organisation. High-potential employees tend to be in demand, which results in them easily trading their current position for a better offer elsewhere. Therefore, companies should have action plans in place to retain these valuable employees.

Management often misses the chance to better understand what the organization’s top talent needs.

Who is high-potential talent?

The Center for Creative Leadership (ccl.org) define high-potential talent as an employee who is assessed as having the ability, organizational commitment, and motivation to rise to, and succeed in, more senior positions in the organization.

How do talented individuals experience being a high potential in your company?

In a study conducted by the Center for Creative Leadership, they surveyed many leaders, gaining an understanding of the perspectives and views from these individuals who were identified as high-potential employees. (More on the identification of high-potential employees in future articles). Among others, the results revealed insight and 3 tips to retain high-potential talent.

3 Tips to Retain High-Potential Talent

From the above-mentioned study, here are 3 tips to retain high-potential talent in your organisation:

  • Career path and support
  • Greater authority
  • Feedback and communication

Tip 1: Career Path and Support

The most frequently mentioned way to increase commitment and engagement among all high potential individuals is to identify a career path for them. They want to have a clear view of where they’re heading to. In addition, they need to understand the next steps in terms of learning and development, experience, and career progression.  As a business leader, ensure that you implement and frequently review annual development plans for them.

Furthermore, invest in and support high potential employees by giving them special assignments, mentoring, and coaching from other senior leaders.

Tip 2: Greater Authority

Increase their responsibility by giving them special assignments, and not merely more work. Special assignments would include high-profile work, participation on a task force team, and/or role rotations.

Moreover, high potential employees are also looking for greater authority to make decisions that have a significant impact on the organization. They are often included in senior meetings and have their opinions sought after more frequently, which increases their engagement and commitment to the organization.

Tip 3: Feedback & Communication

To retain high potential talent, business leaders should ensure that high potential individuals receive plenty of communication about the pipeline process, i.e. possible next career steps within the organisation. However, they also need honest feedback about their current performance – positive as well as development areas.

CoLAB Talent specializes in high-performing resources

Are you

  • Struggling to develop high potential resources in your organisation; or
  • In need of high performing resources, right now, but you can’t add them to your payroll; or
  • In need of a flexible workforce, to scale as your demand increases?

Stop looking. CoLAB Talent will take the pile of CVs off your desk, onto ours. We are known for matching your needs with individuals of Competence and utmost Character.

You will be able to scale your execution capacity with high-performing individuals, so that you can focus on driving strategic results and growing your business, without employing permanent resources.

This is the future of work.

Keen to explore such a solution in your company?

Book a free 20-min call with Barend Cronjé, CEO of CoLAB Talent, to explore solutions for your needs, and to kickstart your journey towards the successful future of your business.

Book the call HERE.

 

Read these articles on Future HR and other popular topics:

Future HR: People energy in business 

Future HR: Moving from Human Resources Management to Human Energy Management

Future HR: Human Energy drives business success

Refresh your people structure 

Employee engagement increases profitability

Optimize business processes

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