There are a number of different approaches organisations take to assess the leadership talent in their business. One way is to use the line manager's manager to rate the individual's potential. A benefit of this approach is that this level of management will have a clear understanding of what is required further up the leadership pipeline. An alternative is to only focus on the general leadership roles at the most senior levels, so that job or sector specific knowledge is less important.
Many organisations use key leadership competencies or behaviours to assess high potentials such as self-confidence emotional resilience and strategic thinking. To get these right for the operational context it is important that the top leadership team are involved in defining the best indicators of success both now, and in the future, as they have the strategic focus.
There are a number of tools that can be used as part of the assessment process including performance ratings, assessment against core competencies and ranking grids that compare performance against potential. Figures vary but top talent can account for between 3 to 5 % of the population.
Development options
Once the talent pool has been identified there will be a need to plan development priorities to ensure a good fit with the strategic direction. The focus on development is within the context of high quality job performance rather than an added extra.
Ideally, an individual will meet with their coach or mentor to draw up a tailored action plan on how to develop their core competencies, organisational knowledge and leadership skill set. This development should be targeted and measured for effectiveness. This means the measures should include the application of skills and knowledge as well as the acquisition. The personal development plan can then be used to document any development undertaken, evaluate its success against pre-defined criteria and review the key achievements. Development activities should fit with personal interests as well as organisational priorities.
Types of development
Development will vary between individuals and will comprise of a mix of activities such as short-term, high-impact programmes; short term learning assignments; task force membership; strategic projects; peer learning sets and one to one coaching.
High potentials will need a succession of advisors, teachers, mentors and coaches during the course of their careers. For optimal development it is likely that these high potentials will receive a greater proportion of the training budget.
If you would like some support with recruiting, developing and retaining talent in your organisation please call us on 01273 707404 or email us.