Organisations throughout the world invest large amounts of resources, money and time in Talent Management to retain High Potentials (HIPOTs). They are highly capable, intelligent, and quick learning resources that we are dealing with. Would a hike in salary package, grade, or designation keep them motivated lastingly?
Visualize a goldfish inside a tank with lots of fighter fish. A formula1 car on a heavy traffic road. Shoe polish at the side of fruit racks in the retail outlet. How repulsive are these images? This is precisely how hipots will feel if they've to work in an environment that does not suit their culture, aspirations, and capabilities. They will feel suffocated and what follows next is the hipot going in search of fresh air.
CAPABILITY MISMATCH:
Consider a situation where your hipot has to report to a manager who seems to be low on general intelligence. The manager would likely take more time concluding a brainstorming session. The hipot may see this additional time as waste and incapability of the manager. The hipot may well not find enough motivation to sit through the future meetings with the manager or not really look forward to learning from the manager.
CULTURE MISMATCH:
Everybody knows that adults wouldn't want to be told. A hipot would hate for being directed constantly, plus they want to be challenged cognitively. They'd prefer guidance only after trying out things on their own. An environment where the organisation or maybe the managers are less tolerant towards learning through experiments and failures won't support nurturing a talent pool. ‘Telling approach' is considered one indicator of an organisation that lacks a high-performance culture.
ASPIRATION MISMATCH:
Tenure-based promotion is a good enough reason to repel the talent pool from the organisation. All it takes in such an environment would be to manage somehow and stay put for the promotions to happen. A hipot might find working in such an environment insulting. Hipots expect to grow according to performance, effort and demonstrated capability.
Organisations can't expect hipots to wait patiently for their turn of promotion. The irony is that the organisations don't try to find their patience while recruiting them. The talent management strategy must be in line with the intent to nurture and retain the talent pool.
“At companies with very effective talent management, respondents are six times more likely than those with very ineffective talent management to report higher 'Total Returns to Shareholders' than competitors.”
“Only 5 per cent of respondents say their organizations' talent management has been very effective at improving company performance”.
Source - https://www.mckinsey.com/business-functions/organization/our-insights/winning-with-your-talent-management-strategy
ATTRACTING VS BUYING TALENT:
Does your organisation attracts talent or purchase it from the market? You will see these are two different things. But if your organisation is attracting talent, there is no doubt that you will always have a talent surplus situation, no matter what the market condition is. Should you be buying talent from the market, you may consider the following thoughts:
• Increased salary is not going to keep the hipot motivated for long
• A Deputy Assistant VP grade will not mean much for a longer duration
• If there is a mismatch between expectations and reality, the hipot may regress in performance after joining your organisation
• Recruiting hipots may cause interpersonal challenges as well as an increased amount of employee churn
Some pointers to help in making informed decisions about attracting, recruiting, and retaining the talent pool:
• Define the DNA of hipots for your organisation
• Define the strategy to recruit hipots. You might have to make certain that they work with managers who can provide them the right environment
• Conduct surveys to check if your organisation's culture is conducive for nurturing the talent pool. In case there are shortcomings, including organisational culture and practices, address them through a robust learning architecture
• Make leaders accountable for talent management and review them regularly
• Define a career path for all roles in the organisation. The employee should enter, get promoted, and exit the organisation at the correct time
• Make people development a default competency for managers and leaders. Organisations should give talent management competency enough weightage for making their promotions decisions
• Provide equal opportunity for all employees to learn and develop
• Make the promotion criteria objective and transparent
• It is absolutely ok to not recruit hipots for your organisation, but this decision should be based on talent pool bench-marking
Commentaires
Enregistrer un commentaire