A New Approach for Developing High Potential Employees
Every organization has high potential employees―sometimes referred to as “HIPOs,”―who the organization hopes will form a core part of the future leadership and workforce. They’re a group that tends to disproportionately outperform their peers, and they leave every employer with two broad challenges:
- Realization of that potential: Developing talent typically through targeted professional development.
- Employee retention: A critical problem when competitors are constantly on the lookout for key people to poach with tempting offers. High potential employees have more options when it comes to career mobility, causing 25% of them to leave (CEB, 2016 Beyond the HIPO Hype) with an immediate cost of up to twice their salary, not to mention the hassle it introduces.
High potential employee realization and retention are real and complex problems for employers. As HIPOs are typically trusted with a great deal of responsibility on high priority projects, 86% of them turn out to be at risk of burnout (Global Leadership Forecast, 2021). And despite organizations putting effort into high potential programs, only 11% of organizations are very satisfied with the returns they get from them (Korn Ferry, 2019). Coaching has a particular role to play in supporting both of these critical objectives.
How and why to utilize digital coaching for HIPOs
Delivering coaching to high potential employees provides a personalized opportunity for them to develop skills in the right areas to add the most value to the organization. By giving them a pathway to increase their abilities and improve their performance, you can also increase the chances that the individual will earn the rewards offered at your organization, potentially keeping hold of them for longer.Alongside that, delivering coaching to those who manage HIPOs enables them to lead better, overcoming negative biases and enabling opportunities for the HIPOs to grow and learn in an environment of psychological safety.It matters even more than we might think. If it’s true that 80% of an organization’s output comes from 20% of its employees, it stands to reason that those 20% will sit in the HIPO bracket. Investing in an environment that serves them will benefit the organization directly through results, and indirectly through the positive influence they have on their colleagues.
Changing mindsets, changing results
High potential employees often suffer higher levels of stress. They have to cope with their employer’s (justifiably) high expectations, and they also want and need to focus on developing the skills that will help them succeed in a future role. This is exacerbated for those in a succession planning scheme. Sound familiar?This cycle can sometimes demand a change in mindset. HIPOs are not necessarily always going to be the highest performing colleagues; promoting the highest performing technical expert might seem logical until both they leave for an equivalent job that doesn’t include people management, and the actual HIPOs leave for an opportunity in which they get it.The answer is clear: set high potential employees up for success from the very start of their leadership career. Invest as much in their leadership development as you would for your senior leaders. In other words: democratise coaching. But this is easier said than done. Spotting them is half the battle.
Getting help
Thankfully, there is a solution. Offering coaching to every employee would be one extremely good approach. ile incurring an initial faith-led cost, coaching has been shown over and over again to demonstrate its value and clear return on investment. For those more concerned with short-term finances, targeted coaching at people managers to foster those environments is a great tool to maximize the likelihood of HIPOs being spotted and supported to achieve their potential.
FAQ
At CoachHub, we believe in the power of aligning individual growth with organisational objectives. Our dedicated coaches work closely with coachees to ensure that their growth plans are directly linked to your company's overarching goals. This includes addressing specific leadership development needs within different departments or teams, and recognising that each area may have unique challenges and requirements.
To achieve this alignment, we collaborate closely with our clients and their senior leaders, taking the time to understand their organisation's specific challenges, objectives, and organisational culture well. By gaining deep insights into your company's dynamics, we can tailor coaching plans that address the specific needs of different teams and individuals.
Our approach is highly customised and adaptable. We recognise that each coachee has unique requirements, and we leverage our expertise to develop coaching plans that are relevant and effective for all participants, regardless of their role or level within the organisation. Whether it's helping to develop leaders, retain talent, improve leadership skills of middle management, or support C-suite executives, our coaching programs are designed to cater to diverse needs and ensure maximum impact.
By aligning growth plans with your company's objectives, we create a cohesive approach that enhances overall organisational success. Our coaches help coachees identify areas for improvement, set meaningful goals, and develop actionable strategies to bridge the gap between their current competencies and the desired leadership abilities. This alignment not only facilitates personal and professional growth but also contributes to the long-term success of your organisation.
With CoachHub, you can be confident that our coaching programs are tailored to address the specific leadership development efforts within your organisation. By collaborating closely with our clients, we ensure that our coaching plans are relevant, effective, and aligned with your company's objectives, driving growth and excellence across all departments and levels.
At CoachHub, we understand the importance of scalability when it comes to your leadership development program. That's why our programs are thoughtfully designed to accommodate a large number of participants simultaneously, ensuring that organisations of all sizes can benefit from our services. Whether you have a small team or a global workforce, our coaching platform is equipped to handle the scale.
With our advanced digital coaching platform, we bring high-quality coaching directly to employees all over the world. The beauty of our online sessions is that participants can access them from anywhere, at any time. This flexibility empowers employees to engage in coaching without geographical constraints or time zone limitations. Whether they're working from home, travelling for business, or stationed in a different country, our platform ensures that they can easily connect with their coach and participate in sessions at their convenience.
The digital nature of our coaching platform also means that participants can enjoy a consistent and seamless coaching experience, regardless of their location. Through video calls, instant messaging, and other interactive tools, our platform fosters a sense of connection and engagement between the coaches and participants. This virtual environment not only saves time and resources but also allows for regular and ongoing coaching support without the need for in-person meetings.
By leveraging the power of technology, our scalable coaching programs break down barriers and provide accessible coaching solutions to organisations and individuals around the globe. Whether it's a small team or a multinational corporation, our platform ensures that every participant can benefit from high-quality coaching, anytime and anywhere.
Absolutely! CoachHub's leadership development program is designed to seamlessly integrate with your existing talent development and performance management initiatives. We understand that every company has its own unique needs and goals, and that's why our coaching sessions are completely tailored to meet those requirements. Whether you're looking to strengthen leadership skills, foster personal growth, or achieve organisational success, our program aligns perfectly with your company's specific objectives.
By customising our coaching sessions, we ensure that each individual receives the guidance and support they need to thrive. We take the time to understand their strengths, challenges, and aspirations, and then craft a coaching experience that caters to their personal growth journey. This way, we can provide targeted development opportunities that directly contribute to their success within your organisation.
When you integrate our program with your leadership development efforts and performance management initiatives, you create a powerful synergy. Our tailored approach complements and reinforces your existing efforts, allowing you to build a comprehensive framework for maximising the potential of your workforce. Together, we can create an environment where employees are motivated, empowered, and equipped with the skills they need to excel.
So, rest assured that with CoachHub's leadership development program, you can easily integrate coaching into your existing initiatives and achieve remarkable results that align with your company's requirements.
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