High-Potential Employee (HiPo)
Someone with the ability, engagement, and aspiration to rise to and succeed in more senior, critical positions.
Understanding High-Potential Employee (HiPo)
A High-Potential Employee is someone who not only performs well in their current role but also has the potential to grow into higher positions. They often count with leadership potential, ability to think strategically, and their drive to achieve results. It is important to recognize between HiPos and high performers. High performers excel in their current jobs, HiPos have the potential to take on bigger responsibilities and excel in future roles.
HiPos typically count with traits such as adaptability, strong problem-solving skills, and a passion for learning. They are often proactive, take initiative, and can inspire and lead others effectively. Identifying these traits early on is crucial for retaining top talent within an organization.
Identifying
To identify HiPos you will have to use various tools and methods. Psychological tests and 360-degree feedback, where feedback comes from all colleagues, are common ways to evaluate an employee’s potential. Performance reviews also help understand an individual’s skills and see the option for promotion.
HiPos usually show signs like consistently high performance, strong leadership skills, and high motivation. They also learn and adapt quickly to new challenges.
HiPos typically have high performance, strong leadership skills, and high motivation. They also learn and adapt quickly to new challenges.
It is important to be careful when identifying them. Having special preferences can lead to errors and, because of this, other candidates could be overlooked
Developing
Once HiPos are identified, it’s important to help them grow by creating specific development plans for each person. These plans, called Individual Development Plans (IDPs), focus on the unique needs and goals of each HiPo. They usually include a mix of training programs, mentoring, and coaching to help them reach their full potential.
Giving them challenging projects is another good strategy, it will push them out of their comfort zones, helping them learn new skills and gain valuable experience. Rotate them so they can work on different areas of the company, this helps them understand the company better and develop a broader set of skills.
Retaining
To keep HiPos, you need to actively plan their careers and recognize their efforts. Clear and achievable career plans help HiPos see a future with the company, motivating them to stay and grow.
Recognition and rewards are also very important. Giving incentives and acknowledging their hard work makes HiPos feel appreciated and loyal. Creating a work environment where they feel supported and valued is crucial for keeping them.
Maintaining work-life balance is another key aspect. HiPos are often very driven and may take on heavy workloads, which can lead to burnout if not managed properly. Supporting a healthy work-life balance helps keep them well and productive.
The Role of Leadership in HiPo Programs
Senior leaders must support and actively participate in finding and developing HiPos. This commitment helps create a culture that values and invests in employee growth.
A development-focused culture, where continuous learning and improvement are encouraged, is essential for nurturing HiPos. Regular feedback and open communication channels help HiPos stay aligned with the company's goals and expectations.
Conclusion
In some traditional companies it is common that they prefer to bring in someone "specialized" from outside, instead of growing your team and giving them opportunities. Shifting focus from external hiring to internal development can transform traditional companies into dynamic, forward-thinking organizations that fully leverage their most valuable asset: their people.