Do You Have What it Takes to be a High Potential? Does Your Organization Know What it Takes to Develop Them? Kim Ramsey President, The Executive Edge, Inc. 6 Explore the definition of a high potential and why its an important designation Pinpoint the skills organizations are looking for in their rising stars Examine best practices to develop high potential leaders To answer any of your questions TODAYS FOCUS 2015,The Executive Edge, Inc. All Rights Reserved. 3 Founder, Kim Ramsey, LER 85 Alum Led Executive Development & OD for AT&T/Ameritech, Tribune Company, SONY, Harris Corporation, ACNielsen, North America Founded The Executive Edge, Inc. in 1999 National boutique consulting firm focused on: Executive development/coaching High potential development Organizational effectiveness Strategic planning Executive team development Coast to coast seasoned consultants We partner with you to optimize performance of individuals, teams and total organizations. MORE ABOUT THE EXECUTIVE EDGE 4 The Executive Edge Clients EXECUTIVE EDGE CLIENTS INCLUDE High Potential Leadership Identification Do You Have What it Takes to be a High Potential? 6 High potentials are __% more valuable to organizations than non- HIPOs Source: CEB The Disengaged Star: Four Imperatives to Reengage High-Potential WHY IS THIS TOPIC IMPORTANT? Opportunities and earning potential is significantly higher for those who are designated as high potential. TODAYS DEMAND FOR HIGH POTENTIALS Source: University of North Carolina Kenan-Flagler Business School, Chapel Hill, NC HOW IS HIGH POTENTIAL DEFINED? Source: Korn Ferry, 2014 An individuals capacity and interest to develop the qualities required for effective performance in a significantly more challenging role*. HOW IS HIGH POTENTIAL DEFINED? *Typically a role of two or more levels above present position. ONLY 15% OF HIGH PERFORMERS ARE HIGH POTENTIALS High Potentials 10-15% High Performers 75-90% Source: Maintaining the Delicate Balance When Developing High- Potential Programmes. Edwards, S. (2012) T+D Magazine An employees potential is determined by his or her aspiration, ability and engagement not necessarily by their performance. Most high performers are NOT high potentials. WHAT MAKES AN INDIVIDUAL STAND OUT? PRODUCTIVITY PERCENTILE RANKING AVERAGE PERFORMERS HIGH POTENTIALS The best are dramatically more productive than the rest. 46%ile 89%ile Source: Zenger-Folkman, HBR.org THE BOTTOM LINE. EXCEPTIONAL RESULTS ARE YOUR TICKET TO BE CONSIDERED. BUT IT DOES NOT STOP THERE. A proven high performer with three distinguishing attributes: 1.Ability : yields 12x higher likelihood of being effective in senior roles. Will they be effective? 2Engagement : yields 2x higher probability to stay, put in extra effort and meet performance goals. Will they remain with your company? 3High Aspiration: yields 11x higher probability to achieve executive position. Will they get there? CEB HIPO MODEL: IDENTIFYING HIGH POTENTIALS Aspiration AbilityEngagement High Potential Source: Corporate Executive Board, 2011. ENGAGEMENT: WHAT DO ORGANIZATIONS LOOK FOR? Ability Aspiration Engagement The extent to which the individual enjoys and believes in the organization The extent to which the individual believes in staying with the organization is in their best self interest Discretionary effort Intent to stay High Potential Source: Corporate Executive Board, 2011. The extent to which the individual wants and desires: Prestige in the organization Advancement Influence Financial rewards Work/life balance Overall job enjoyment ASPIRATION: WHAT DO ORGANIZATIONS LOOK FOR? Aspiration AbilityEngagement High Potential Source: Corporate Executive Board, 2011. INNATE SKILLS Mental agility/cognitive ability Emotional intelligence LEARNED SKILLS Driving Results Technical/functional skills Working collaboratively Taking initiative Embracing change Interpersonal skills Walking the talk/follow through Personal resilience Giving and receiving honest feedback. ABILITY: WHAT DO ORGANIZATIONS LOOK FOR? Ability Aspiration Engagement High Potential Source: Corporate Executive Board, 2011. THE X FACTORS Change leadership Drive to excel Collaboration up, down and across Initiative/drive Accountability Executive presence/confidence Personal resilience Ability to learn and translate learning into action Lack of humility/Unwillingness to learn/Inability to develop oneself. He/she chooses not to adapt his/her behaviors Lack of emotional intelligence Lack of Exceptional Performance in current role Lack of desire to advance; career aspirations have changed KNOCK OUT FACTORS Does Your Organization Know What it Takes to Develop Them? Kim Ramsey President, The Executive Edge, Inc. 6 Past Future More on 70:20:10: Jennings. C (2013) A Framework for High Performance Development Practices Learning from Experience 10% Learning from Others 10% Learning from Training/Classroom 80% Learning from Training/ Classroom 10% Learning from Experience 70% Learning from Others 20% LEARNING PAST, PRESENT AND FUTURE Present HOW WE LEARN Practice Reflect Get Feedback Practice until you perform well. Stop to think about what went well and what did not Ask for feedback on your performance and impact EXPERIENTIAL LEARNING IN THE REAL WORLD High-quality learning experiences account for 25% of the ability to apply learning Exposure Extraction Performance Extracting the learning from experience accounts for 75% of the ability to apply learning. Combining Exposure with Extraction Improves performance up to 30%. From WHAT to learn to we learn HIGH POTENTIAL DEVELOPMENT Source: CEB L&D Leadership Council. On-the-Job Learning Survey = + Transparent Communication In Depth Assessments -360 assessment -Interpersonal/communication -Conflict management -Emotional intelligence Deliberate Long-Term and Short-Term Job Assignments -Incorporate a more outside-in point of view. Action Learning Teams Deliberate and Integrated Learning from Others Involvement of Senior Leaders BEST PRACTICES TRANSPARENT COMMUNICATION Transparency is gaining greater momentum Professionals need to better understand whats expected to be considered a high potential and take charge of their careers. Organizations are tired of conducting exit interviews with people saying If I had only known you had plans for me. 24 85% tell the HIPO of their status HRB, June 2010 TRANSPARENCY 25 BENEFITS OF TRANSPARENCY Korn Ferry Study, 2014 IN DEPTH ASSESSMENTS Builds accurate self awareness Grounds the high potential in how he/she is really perceived. Ensures leader is working on what the organization believes is important for success. Requires a thorough debrief with a certified coach focused on development not evaluation 2015,The Executive Edge, Inc. All Rights Reserved. 26 DELIBERATE SHORT TERM AND LONG-TERM JOB ASSIGNMENTS Match job assignments/challenges to the skills required. Work in a manufacturing or distribution center for 1-3 months Start ups Fix its Cross functional teams International assignments Work in a customer call center Make a job move from staff to line or line to staff role Make a lateral move to prepare for a much larger role downstream. 2015,The Executive Edge, Inc. All Rights Reserved. 27 ACTION LEARNING TEAMS Senior leaders assign the high potential leaders to work on an organizational challenge/business problem for 90 days in addition to their job. Executives can observe the high potentials in action. Gives high potentials the opportunity to work on leading change, working on meaningful \work and driving significant organization-wide change. Showcases strategy, change leadership, collaboration, communication, executive presence, and more. Increases high potentials visibility to sr. leaders 2015,The Executive Edge, Inc. All Rights Reserved. 28 LEARNING FROM OTHERS Executive coaches Role models Mentors Great bosses Peer coaches 2015,The Executive Edge, Inc. All Rights Reserved. 29 30 REVIEW THE LEADERS DEVELOPMENT PLAN PARTICIPATE IN THE 360 FEEDBACK PROCESS PRESENT AT A LEARNING SYMPOSIUM PARTICIPATE IN THE ACTION LEARNING TEAM SPONSOR AN ACTION LEARNING TEAM ATTEND LEAD BREAKFAST/DI NNER MEETING INFORMALLY MENTOR INVITE LEADER TO SHADOW AT A STRATEGIC PLANNING RETREAT Involvement of Each Senior Leader INVOLVEMENT OF SENIOR LEADERS IN DEVELOPING HIGH POTENTIALS 2015,The Executive Edge, Inc. All Rights Reserved. High-potential employees are your organizations most valuable asset. We must ensure that the right people are designated as high potentials given the investment of time, resources and focus. Organizations must change the way they look at learning and take a much more deliberate, strategic approach to developing top talent. We must drive greater transparency to fuel the pipeline of emerging leaders. Summary Contact Please contact us with any questions you have following the session or receive any additional information. Kim Ramsey President The Executive Edge, Inc. wk `