At a time when experts agree that homegrown talent is especially crucial, why are HR professionals having so much difficulty identifying, retaining and preparing the best and the brightest? Why are so many talented prospects dissatisfied?
First, researchers see a huge divide between what employers think motivates high-potentials and what actually motivates them. Employers cite lists of what “we‘ve given them,” including outstanding remuneration, to demonstrate the strengths of their programs. These include opportunities to more directly influence and direct their careers and more-challenging assignments with real risks and rewards.”
Second, high-potentials need smarts and experience to thrive, but ability and seasoning are only part of the recipe. “We know from our benchmarking studies that high-potentials don‘t fail because they lack ability,” says Jean Martin, executive director of the Corporate Leadership
Council. “Most don‘t succeed because they are not engaged and because the assignment they‘re in is not what they want.”
Retention of talent, according to a Towers Watson study, is the second more troublesome area for employers in India, after talent sourcing. If we try to correlate the market conditions of 2012 with the challenges employers are facing, it is a mixed bag. On one hand, the employees are holding on to their jobs since the ‗external market‘ isn‘t too friendly, whereas the exodus of key talent continues to beleaguer the employers in India. This brings us to the key question – Why do high performers leave? What are the triggers that drive them to look out for better options? In the absence of transparent measurement systems, it is difficult to have clear answers to such questions. One of the consequences of this issue is the shift of limelight from exit interviews to stay interviews. Stay interviews provide constructive information that can be utilized to pre-empt and prevent future attrition of high performers (HIPOs). Another interesting feature of HIPO churn is that the reasons that make them stay are not always the attraction in the job offer for which they leave.
Potential Management Strategies: How to manage high-potential employees
A big part of a manager‘s job is to identify who is contributing to the overall success of the company and who needs to pull their socks up.
However, the temptation is to concentrate too much on the staff members who need the most help, while allowing high-potential employees to regulate themselves.
While they may enjoy the freedom to begin with, if left to their own devices too long they could suffer from a lack of motivation.
This can result from them feeling ignored, overworked and underappreciated, which in a worst-case scenario could see them fleeing to your biggest competitor.
Here are some top tips for effectively managing your rising stars, ensuring they achieve their full potential and remain satisfied in their job.