The six essential components when developing high potential employees for future leadership positions

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One key area we focus on at hellomonday is helping organisations develop and retain high potential talent. These employees are typically individuals who have demonstrated a strong ability to perform, a desire to succeed, and a willingness to take on new challenges.

When it comes to developing high potentials, there are several key strategies we explore below that can be used to help ensure they are ready and armed to take on new leadership roles and responsibilities with confidence.

1. Identify their strengths and weaknesses

The first step is to identify their strengths and areas of growth. This can be done through regular performance evaluations, as well as 360-degree feedback and self-assessment tools. The information gathered from these assessments can be used to create a development plan that addresses both the employee’s strengths and areas for improvement.

2. Develop their skills and knowledge

It is important to provide high potentials with opportunities to develop their skills and knowledge. This can be done through formal training programs, mentorship relationships, and cross-functional projects. For example, a high potential employee who has a strong technical background may be paired with a mentor who can help them develop their leadership and communication skills. A high potential employee who is strong in strategic thinking may be given the opportunity to work on a cross-functional project that requires them to use their skills in a new and challenging way.

3. Expose them to senior leadership

Another important aspect is providing exposure to the senior leadership team and other key stakeholders. This can be done through events like leadership forums, mentorship programs, and networking opportunities. The goal is to help the employee understand the organisation’s strategy, culture, and values, and to give them the chance to develop relationships with key decision-makers.

4. Provide them with meaningful and challenging projects

This includes challenging projects that are outside of their normal area of expertise that will stretch them to their full potential. For example, a high potential employee may be given the opportunity to lead a cross-functional team, manage a project, or take on a new role within the organisation.

5. Regular feedback and coaching

Providing regular feedback and coaching is paramount. This can be done through regular one-on-one meetings, performance evaluations, and 360-degree feedback assessments. The goal is to help them understand their strengths and areas for growth, and to provide them with constructive feedback that they can use to continue to develop their skills and knowledge.

6. Reward their performance

Recognising and rewarding high potential employees for their achievements is important. This can be done through bonuses, promotions, and other incentives that help to motivate and retain top talent. It is also important to provide them with opportunities for career advancement, including leadership roles within the organisation.

Investing in the development of high potential employees is a strategic move that propels your business forward, giving you a decisive edge over the competition and ensuring your continued success in an ever-evolving marketplace

Don’t just survive, strive for greatness – invest in your people, help them reach their full potential and watch your business soar.

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