What are the common challenges and pitfalls of managing high potentials and how do you overcome them?

1 Identifying HiPos

One of the first steps in managing HiPos is to identify them accurately and objectively. This can be tricky, as HiPos may not always be the most visible, vocal, or popular employees. You need to use a combination of criteria, such as performance, potential, readiness, and fit, to assess who has the qualities and capabilities to advance in your organization. You also need to avoid biases, such as halo effect, recency effect, or similarity effect, that can cloud your judgment and lead to overlooking or overrating some candidates. A best practice is to use multiple sources of data, such as assessments, feedback, ratings, and observations, to validate your decisions and ensure fairness and transparency.

2 Engaging HiPos

Another challenge in managing HiPos is to keep them engaged and motivated. HiPos have high expectations and aspirations, and they may become bored, frustrated, or disengaged if they feel underutilized, underrecognized, or undervalued. You need to provide them with challenging and meaningful work assignments, regular feedback and recognition, and clear career paths and opportunities. You also need to balance their autonomy and support, giving them the freedom and resources to pursue their goals, but also the guidance and coaching to help them grow and overcome obstacles. A best practice is to create a personalized development plan for each HiPo, based on their strengths, gaps, interests, and aspirations, and monitor their progress and satisfaction.

3 Developing HiPos

A third challenge in managing HiPos is to develop them effectively and efficiently. HiPos have high potential, but they also have high learning needs and gaps. You need to provide them with the right mix of learning experiences, such as on-the-job training, mentoring, coaching, feedback, projects, rotations, and formal courses, to help them acquire the skills, knowledge, and behaviors they need to succeed at higher levels. You also need to align their development with the current and future needs and goals of your organization, ensuring that they are prepared for the roles and challenges that lie ahead. A best practice is to use the 70-20-10 model, which suggests that 70% of learning comes from challenging assignments, 20% from relationships and feedback, and 10% from formal education.

4 Retaining HiPos

A fourth challenge in managing HiPos is to retain them in your organization. HiPos are in high demand and have high mobility, and they may be tempted to leave if they find better opportunities elsewhere. You need to create a strong employer value proposition, or EVP, that showcases the benefits and rewards of working for your organization, such as culture, values, purpose, vision, compensation, benefits, and work-life balance. You also need to foster a sense of loyalty and commitment, by building trust, respect, and rapport with your HiPos, and by involving them in strategic decisions and initiatives that affect their work and career. A best practice is to conduct regular stay interviews, or conversations that explore what makes your HiPos stay and what might make them leave, and act on their feedback and concerns.

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?