Strategies for Developing High-Potential Employees and Future Leaders

Strategies for Developing High-Potential Employees and Future Leaders

Oct, 09 2023

Do you know that more than 80% of the growth of a company is steered by 20% of its productive workforce?

Every organisation seeks high-potential employees who can be the backbone of their firms in the future. To harness the power of its employees, organisations must identify the potential of their employees in the first place. Besides technical skills, organisations must check certain factors such as the employee’s ability to fit well into a company’s culture, mission, and vision for the next 10 years.

Before an organisation arrives at a conclusion on who fits the best for a company’s future leadership positions, investing in their training and development is equally important. The training should go beyond just the basics of compliance and role-specific training. The end objective of these training sessions is to nurture high-potential employees so that they can navigate the organisation towards growth and development. Today, in this blog, we shall discuss some of these strategies that can help develop high-potential employees (HiP) and future leaders!

Assess Strengths and Weaknesses of Employees

Every employee has a unique skill set that has a combination of both positive and negative traits. Irrespective of the amount of potential an employee can have, there will be no one-size-fits-all approach to developing the HiPos. An organisation must conduct periodic assessments to identify the shortcomings and strengths of employees. Furthermore, these assessments can also help the employees determine what their career trajectory within their organisation could look like in the future!

Develop A Customised Leadership Plan

A customised leadership plan is essential to help an organisation develop a strong pipeline of its future leaders. This personalised leadership plan empowers an organisation to execute succession planning and align its high-performing employees with its strategic goals. Given that each employee possesses unique development objectives and learning preferences, an effective plan should incorporate diverse tools and resources that can be customised to meet individual needs. For example, an organisation can invest in comprehensive training, support, and hands-on experience for a fresh graduate who has the ability to lead the organisation in the future.

Motivate Employees

The managers and leaders should actively support the employees by providing constructive feedback to enhance their performance, creating career paths, and offering prospects within the organisation. The firms must also establish clear, achievable criteria for rewards and incentives, such as bonuses or raises, based on specific milestones. Furthermore, recognising their contributions with verbal praise and acknowledgement reinforces the employees’ value in the organisation for their hard work and consistent efforts.

Way Forward

In conclusion, high-performing employees often drive the organisation towards success and therefore organisations must recognise their potential to elevate them as future leaders of tomorrow. To harness the power of the employees, organisations must develop leadership plans that can help them implement succession planning. Additionally, motivating HiPos through constructive feedback, clear career paths, rewards, and recognition is also essential for maintaining their engagement and commitment. By implementing these strategies, an organisation can nurture high-potential employees to become future leaders and drive the organisation towards success!