Identifying Your Existing High-Potential Talent
The second step of a successful Leadership Development Process is to identify all the high-potential talent within your organization. Obviously, you start this process at the top levels of the organization. Identifying the top potential of existing C-level positions assists in narrowing the field of candidates.
After the top group is identified, expand your search to include key functional position candidates. Who are the key potential candidates for every managerial / leadership position in the company. This activity will require the coordination of current leaders in functional areas and cross-functional areas with position contact experience.
The goal of identifying high-potential talent is to know where your future leaders could be in the organization. This also can identify current leaders who are doing an excellent or poor job of identifying and hiring talent within their functional areas. The better leaders are very capable of hiring the best talent for their groups. They are equally adept with developing their talent with challenging work, stretch projects, coaching or mentoring techniques, and educational opportunities.
These individuals should be in a focused performance management system. This system will track their progress and keep a detailed record of their improvement activities. This information will allow for controlled development of each individual in the system. The purpose is to have a large pool of talent available for promotion due to opportunities for additional growth or normal attrition. A lack of in-house developed talent requires a time consuming and costly search for experienced outside talent.
If you need assistance in determining the criteria for identifying high-potential talent, contact us. We have been assisting organizations in identifying and developing talent for twenty years. And we can help you too. Call us at 901.757.4434 during the hours of 9 to 5 Central Time USA to begin your leadership development process.
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