4 Ways to Retain Your High-Potential Employees

Most business leaders recognize that high-potential employees, or HIPOs, are key drivers for their organizations’ success. This is supported by a Harvard Business Review article that describes how science backs a large proportion of organizational results being driven by a small proportion of the workforce.  

If your company is not actively recognizing and motivating your HIPO’s here are four avenues you may want to consider.

EXPOSURE TO CHALLENGING WORK

HIPOs tend to be motivated by new and innovative challenges. As long as they have appropriate support, stretch assignments can be a great way to recognize them. Avoid the temptation of keeping a successful employee doing the same work because everything is going well.  HIPOs want to be viewed as fixers who have a reputation for solving problems.  Providing them opportunities to excel can be a win-win solution.

NEW SKILL DEVELOPMENT

If you are investing in training for your HIPOs, make sure the output of that training is developing skills that your HIPOs will be able to utilize in the future. The ROI on training varies greatly based on curriculum, methods, and who delivers it. Be clear on what skills or competencies you are trying to develop.

FACE TIME AND INSIGHT

Seeking the insight of a HIPO demonstrates that you have an interest in your HIPO’s input. This is extremely motivating.  As a business leader, it can also broaden your access to information and perspectives. If the vast majority of your information is gained from written reports and your direct reports, are you getting the best information to make decisions?

FEEDBACK

Positive feedback is always welcomed by employees, but it doesn’t necessarily show the recipient that you are interested in his or her development. Constructive criticism, from someone senior in the organization can be a sign that you are truly interested in their development.  Of course, only providing constructive feedback may give a message that you have concerns about the employee’s performance.

The four suggestions above can be a great start to developing your plan on motivating and retaining your HIPOs. If you have a strong HR person and/or HR Consultant be sure to tap into their expertise as well.