Moving High Potentials into Star Performers
One measure of an organization’s health is the state of its talent pipeline. Whether preparing for executive succession, filling open management positions as the need arises, or staffing new roles created by restructuring or growth, how ready is your company to fill key positions with star performers? The answer may fall somewhere between how many superior performers you have now and how many high potentials you are currently cultivating.
Forward thinking leaders don’t rely just on hiring superior performers or poaching established talent from competitors. They are mining their talent pool now, to deepen the engagement of existing stars while causing a whole new group of superior performers to emerge from the ranks.
These market leaders are getting a profit boost by making use of talent management systems. There is a wealth of expertise available to help employers better deploy talent, and data shows that strategic talent management pays off handsomely. Results from Ernst & Young’s Global Talent Management Survey show that companies that integrate and align business strategies with talent management deliver higher shareholder value. Those with the best alignment “had significantly higher financial performance [a 20% higher annual return on equity (ROE) over a five year period] than those that did not.” Going forward, successful competition in the marketplace is increasingly correlated to a company’s ability to attract, retain and develop talent.
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