How to identify hight-potential employees

How to Identify High-Potential Employees

Unfortunately, many organizations don’t feel they have enough high-potential successors to replace employees in key positions — and high-potential employees are viable to an organization’s success in the long term. “High potentials consistently and significantly outperform their peer groups in a variety of settings and circumstances,” is how Harvard Business Review defines high-potential employees. In fact, research asserts that high-potential employees are 91% more valuable than their non-high-potential counterparts. This extremely valuable employee group will grow into the future leaders, executives, and contributors of your organization. The obstacle, however, is that high-potential employees do not have a big red arrow pointing to them and indicating that they may be your future leaders.

Why Succession Plans Fail

Why Succession Plans Fail

Many large businesses and enterprises typically plan for the foreseeable future to avoid any stoppages and interruptions in business operations. As a result, they tend to have contingencies to ensure operations run smoothly. Despite that, most large companies still struggle with succession plans, often ending up rushing them or undermining them.

Every company has a different approach to succession planning. However, they’re often faced with the same problems. A lack of insights into the skills of employees, existing biases, and the absence of transparency often leads to poor succession planning and talent pool scarcity.

career pathing vs succession planning

Career Pathing vs Succession Planning: Understanding The Difference

Career pathing and succession planning are common terminologies within talent management but the difference in their application and the separate benefits of each can be misunderstood and overlooked. In the majority of cases, employers prioritize succession planning, assuming that career pathing will somehow ‘fit’ naturally into it.

But high performing organizations require both.

The New World of Succession Planning

The New World of Succession Planning

Succession planning has changed. In the past, a company was ahead of the curve if it had a succession plan in place at all—even if that plan was nothing more than a list of critical positions and potential candidates. Eventually, a company that had identified pools of talent to fill a specific key position could say they were the most likely to reap the benefits of cutting-edge succession management: high employee engagement, low turnover, and quick transition times. Today, that isn’t the case.