A high potential employee program is a program that is designed to find employees with exceptional skills who can show a great deal of growth in the future. The program aims at finding the most talented employees of the organisation who are future leaders and is most likely to lead the organisation in the future.
These programs are usually organised by organisations/companies to find prospective leaders of the future and train them later accordingly. The company processes are hugely benefitted by such employees, so it is important t to identify them at the earliest. New minds offer innovative solutions to existing and upcoming problems.
Benefits of such a program
Every organisation needs to upgrade itself and stay ready for the upcoming market. This means an organisation needs to revamp and innovate itself to stay relevant and retain bright minds that drive its growth in the future. Thus, assessment of the bright minds already presents in the organisation is extremely important.
Therefore, a high potential employee program is a necessary program for company growth and development. The right training and coaching can help develop bright minds into leaders of the future. It is crucial to have such a program in the organisation.
The many benefits of a high potential employee program are-
- It helps to increase employee engagement so that dormant employees get a chance to prove themselves.
- It helps in bringing forth contributions from different employees depending on their strengths.
- Sometimes high potential employees help in finding other high-potential juniors and can help in mentoring them to become the very best. A company thus hugely benefits from a program like this.
- It helps a lot in increasing employee productivity.
- It is important to retain some employees to get future benefits from their leadership and management skills. A high potential employee program helps in doing that so that bright minds are not lost to other organisations in times of crisis.
- It helps in reducing turnover from employees possessing high potential.
- It helps the company to save money and time. Though time and investment are necessary for the training of the selected employees, the cost of absorbing high-potential employees from other companies is way higher than conducting such a program. In the long term, a lot of money is saved.
Implementation of high potential employee program
A high potential employee program is a program that is structured and systematic. The design of the program is such that it helps in identifying employees with high potential so that they can be trained and mentored in a manner that helps them to gain good leadership skills. This program is like an investment undergone by the company to find talented employees who hold the reins of the company in future. There need to be selection criteria that are standard and free of errors. The company stakeholders must all be involved in the program which must be interactive to allow employee engagement.
The rules must be laid out clearly at the start and the benefits and expectations must be communicated to the employees in advance so that they do not have any false hopes.