In 2010 nearly 900 high potential employees were interviewed. Twenty-percent said they planned to leave their employer in the next 12 months. Are one in five of your best performing employees ready to bolt? Could it be an even higher percentage?
One reason so many top performers consider leaving, according to the same survey, is that 40 percent of internal job moves end in failure. So planning to leave may just be a rationale response on the part of smart, high performing individuals who can see the handwriting on the wall.
This evidence points to an ongoing problem which suggests that many companies are ineffective in managing and retaining top talent. Here are a few suggestions to retain and manage your superstars.
“You’re special!” – Thirty-three percent of employees not told of their status were looking for a new job compared to only fourteen percent who were told they were special.
Empower them – Give your employees assignments and allow them to both make mistakes and succeed on their own. Research suggests that high potentials excel when they are held accountable for clearly defined outcomes.
Respect their lifestyle needs – For example, don’t destroy morale by forcing your married workers with young children to pull up roots and relocate. Finding creative solutions that accommodate lifestyle needs yet still promote advancement is very attractive.
Provide learning and advancement opportunities in abundance – Allowing your employees to receive training and giving them opportunities to perform will help you identify employees who perform well in specific areas.
Give managers adequate assessment tools for selection – According to a survey of 120 HR professionals, 48% of manager are inneffective at identifying high potential employees.
Part ways on friendly terms – You never know when you may want to go out and recruit back that high potential employee.
Your top leaders have to buy-in. – As Roland Smith, Ph.D., lead researcher at the Center for Creative Leadership states, “When we look at organizations that are best in class in identification, selection and development of high potentials, the senior most executives are directly involved and understand it’s a key responsibility.”