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Do You Have What it Takes to be a High Potential? Does Your Organization Know What it Takes to Develop Them? Kim Ramsey President, The Executive Edge®, Inc. 6
Transcript of Do-You-Have-What-it-Takes-to-be-a-High-Potential-Does-Your ...
Do You Have What it Takes to be a High Potential?
Does Your Organization Know What it Takes to Develop Them?
Kim RamseyPresident, The Executive Edge®, Inc.
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Explore the definition of a high potential and why it’s an important designation
Pinpoint the skills organizations are looking for in their rising stars
Examine best practices to develop high potential leaders
To answer any of your questions
TODAY’S FOCUS
©2015,The Executive Edge, Inc. All Rights Reserved.
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Founder, Kim Ramsey, LER ‘85 Alum
Led Executive Development & OD for AT&T/Ameritech, Tribune Company, SONY, Harris Corporation, ACNielsen, North America
Founded The Executive Edge, Inc. in 1999 National boutique consulting firm focused on:
Executive development/coaching High potential development Organizational effectiveness Strategic planning Executive team development
Coast to coast seasoned consultants
We partner with you to optimize performance of individuals, teams and total organizations.
MORE ABOUT THE EXECUTIVE EDGE®
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The Executive Edge® ClientsEXECUTIVE EDGE ® CLIENTS INCLUDE …
High Potential Leadership Identification –
Do You Have What it Takes to be a High Potential?
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High potentials are __% more valuable to organizations than non-HIPOs
Source: CEB The Disengaged Star: Four Imperatives to Reengage High-Potential
WHY IS THIS TOPIC IMPORTANT?
Opportunities and earning potential is significantly higher for those who are designated as high potential.
TODAY’S DEMAND FOR HIGH POTENTIALS
Source: University of North Carolina Kenan-Flagler Business School, Chapel Hill, NC
HOW IS HIGH POTENTIAL DEFINED?
Source: Korn Ferry, 2014
An individual’s capacity and interest to develop the qualities required for effective performance in asignificantly more challenging role*.
HOW IS “HIGH POTENTIAL” DEFINED?
“”
*Typically a role of two or more levels above present position.
ONLY 15% OF HIGH PERFORMERS ARE HIGH POTENTIALS
High Potentials
10-15%
High Performers
75-90%
Source: Maintaining the Delicate Balance When Developing High- Potential Programmes. Edwards, S. (2012) T+D Magazine
An employee’s potential is determined by his or her aspiration, ability and engagement not necessarily by their performance.
Most high performers are NOT high potentials.
WHAT MAKES AN INDIVIDUAL STAND OUT?
PRODUCTIVITY PERCENTILE RANKING
AVERAGE PERFORMERS
HIGH POTENTIALS
The best are dramatically more productive than the rest.
46%ile
89%ile
0 10 20 30 40 50 60 70 80 90 100
Source: Zenger-Folkman, HBR.org
THE BOTTOM LINE….
EXCEPTIONAL RESULTS ARE YOUR TICKET TO BE CONSIDERED….BUT IT DOES NOT STOP THERE.
A proven high performer with three distinguishing attributes:
1. Ability : yields 12x higher likelihood of being effective in senior roles. Will they be effective?
2 Engagement : yields 2x higher probability to stay, put in extra effort and meet performance goals.
Will they remain with your company?
3 High Aspiration: yields 11x higher probability to achieve executive position. Will they get there?
CEB HIPO MODEL: IDENTIFYING HIGH POTENTIALS
Aspiration
AbilityEngagement
High Potential
Source: Corporate Executive Board, 2011.
ENGAGEMENT: WHAT DO ORGANIZATIONS LOOK FOR?
Ability
Aspiration
Engagement
The extent to which the individual enjoys and believes in the organization
The extent to which the individual believes in staying with the organization is in their best self interest
Discretionary effort Intent to stay
High Potential
Source: Corporate Executive Board, 2011.
The extent to which the individual wants and desires: Prestige in the organization Advancement Influence Financial rewards Work/life balance Overall job enjoyment
ASPIRATION: WHAT DO ORGANIZATIONS LOOK FOR?
Aspiration
AbilityEngagement
High Potential
Source: Corporate Executive Board, 2011.
INNATE SKILLS Mental agility/cognitive ability Emotional intelligence
LEARNED SKILLS Driving Results Technical/functional skills Working collaboratively Taking initiative Embracing change Interpersonal skills Walking the talk/follow through Personal resilience Giving and receiving honest feedback.
ABILITY: WHAT DO ORGANIZATIONS LOOK FOR?
Ability
Aspiration
Engagement
High Potential
Source: Corporate Executive Board, 2011.
THE “X” FACTORS
Change leadershipDrive to excelCollaboration up, down and acrossInitiative/driveAccountabilityExecutive presence/confidencePersonal resilienceAbility to learn and translate learning into action
Lack of humility/Unwillingness to learn/Inability to develop oneself. He/she chooses not to adapt his/her behaviors
Lack of emotional intelligence Lack of “Exceptional
Performance” in current role Lack of desire to advance; career
aspirations have changed
KNOCK OUT FACTORS
Does Your Organization Know What it Takes to Develop Them?
Kim RamseyPresident, The Executive Edge®, Inc.
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Past
Future
More on 70:20:10: Jennings. C (2013) A Framework for High Performance Development Practices
Learning from
Experience10%
Learning from Others
10%
Learning from Training/Classroom
80%
Learning from Training/
Classroom10%
Learning from Experience70%
Learning from Others20%
LEARNING PAST, PRESENT AND FUTURE
Present
HOW WE LEARN
Practice
Reflect
Get Feedback
Practice until you perform well.
Stop to think about what went well and what did not
Ask for feedback on your performance and impact
EXPERIENTIAL LEARNING IN THE REAL WORLD
High-quality learning experiences account for
25% of the ability to apply learning
Exposure Extraction
Performance
Extracting the learning from experience accounts
for 75% of the ability to apply learning.
Combining Exposure with Extraction Improves
performance up to 30%.
From WHAT to learn to we learn
HIGH POTENTIAL DEVELOPMENT
Source: CEB L&D Leadership Council™. On-the-Job Learning Survey
=+
Transparent CommunicationIn Depth Assessments
-360 assessment-Interpersonal/communication-Conflict management-Emotional intelligence
Deliberate Long-Term and Short-Term Job Assignments -Incorporate a more outside-in point of view.
Action Learning Teams
Deliberate and Integrated Learning from Others
Involvement of Senior Leaders
BEST PRACTICES
TRANSPARENT COMMUNICATION
Transparency is gaining greater momentum
Professionals need to better understand what’s expected to be considered a high potential and take charge of their careers.
Organizations are tired of conducting exit interviews with people saying “If I had only known you had plans for me.”
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“85% tell the HIPO of their status”
HRB, June 2010
TRANSPARENCY
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BENEFITS OF TRANSPARENCY
Korn Ferry Study, 2014
IN DEPTH ASSESSMENTS
Builds accurate self awarenessGrounds the high potential in how he/she is really perceived.Ensures leader is working on what the organization believes is important for success.Requires a thorough debrief with a certified coach focused on development not evaluation
©2015,The Executive Edge, Inc. All Rights Reserved.26
DELIBERATE SHORT TERM AND LONG-TERM JOB ASSIGNMENTSMatch job assignments/challenges to the skills required.Work in a manufacturing or distribution center for 1-3 monthsStart upsFix itsCross – functional teamsInternational assignmentsWork in a customer call centerMake a job move from staff to line or line to staff roleMake a lateral move to prepare for a much larger role downstream.
©2015,The Executive Edge, Inc. All Rights Reserved.27
ACTION LEARNING TEAMSSenior leaders assign the high potential leaders to work on an organizational challenge/business problem for 90 days in addition to their job.
Executives can observe the high potentials in action.
Gives high potentials the opportunity to work on leading change, working on meaningful \work and driving significant organization-wide change.
Showcases strategy, change leadership, collaboration, communication, executive presence, and more.
Increases high potentials visibility to sr. leaders
©2015,The Executive Edge, Inc. All Rights Reserved.
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LEARNING FROM OTHERS
Executive coaches Role modelsMentors Great bossesPeer coaches
©2015,The Executive Edge, Inc. All Rights Reserved.
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REVIEW THE LEADER’S
DEVELOPMENT PLANPARTICIPATE IN THE 360 FEEDBACK PROCESS
PRESENT AT A
LEARNING SYMPOSIUM
PARTICIPATE IN THE
ACTION LEARNING
TEAMSPONSOR
AN ACTION LEARNING
TEAM
ATTEND LEAD BREAKFAST/DINNER
MEETING
INFORMALLY MENTOR
INVITE LEADER TO SHADOW AT A
STRATEGIC PLANNING RETREAT
Involvement of Each Senior
Leader
INVOLVEMENT OF SENIOR LEADERS IN DEVELOPING HIGH POTENTIALS
©2015,The Executive Edge, Inc. All Rights Reserved.©2015,The Executive Edge, Inc. All Rights
Reserved.
High-potential employees are your organization’s most valuable asset.
We must ensure that the right people are designated as high potentials – given the investment of time, resources and focus.
Organizations must change the way they look at learning and take a much more deliberate, strategic approach to developing top talent.
We must drive greater transparency to fuel the pipeline of emerging leaders.
Summary
Contact Please contact us with any questions you have following the session or receive any additional information.
Kim Ramsey President The Executive Edge®, Inc. wk. 630-404-2256` email:
