Just as Singapore has been gearing up to host this weekend’s Formula 1 race, the Timeo-Performance team has been busy preparing the Asia Pacific Graduate Forum 2018 for one of our client's young talents on the fast track.
"Scientific studies have long suggested that investing in the right people will maximize organizations’ returns.
In line with Pareto’s principle, these studies show that across a wide range of tasks, industries, and organizations, a small proportion of the workforce tends to drive a large proportion of organizational results, such that:
the top 1% accounts for 10% of organizational output
the top 5% accounts for 25%, of organizational output
the top 20% accounts for 80% of organizational output."
Harvard Business Review, What Science Says About Identifying High-Potential Employees
With high-potential employees being critical for to fuel your company’s current and future success, retention of your HiPos is fundamental. As this graphic shows, the right size pool of HiPos has a direct impact on the engagement/retention rate. The larger the pool of high potentials, the higher the risk of low retention which is most likely caused by too thinly spread resources.
Besides targeting the right size of talent pool, the following articles discuss strategies how to retain and develop High-Potentials/High-Potential Millennials.
Most millennials joined the workforce a decade ago. They are taking over leadership positions at the moment or are evaluating the best opportunities. Recent studies show that especially for Millennials access to professional development is a key factor in their decision to stay.
One of the key challenges for today’s organizations is finding ways to retain and develop high-potential millennial employees. To maximize effectiveness, companies should take a holistic view of how millennials are engaged in the workplace from the moment they’re hired. Here are few steps that help create an environment that is suited to the needs and values of this generation.
It’s performance review time at your company and you know that your employees aren’t exactly looking forward to it. But, as a manager, your stomach is in knots about the entire process as well. Why? You want to reward the high-performing employees on your team that you know deserve to be recognized with a pay raise or a boost up the ladder. There’s only one problem: You don’t have the budget or resources to make that happen right now.
Three different managers and experts share how you can show your employees that you appreciate them—even if you can’t offer a raise or promotion.
Leadership training can make a huge difference in preparing professionals to advance in their careers and succeed in leadership roles. Many companies offer leadership education programs to high-potential employees, but these programs don’t always receive much interest. How can leaders and HR departments motivate professionals to enrol in leadership development programs?
Bonus: 21st-Century Talent Spotting