top mistakes that employers do

TOP 5 MISTAKES EMPLOYERS MAKE IN SUSTAINING TOP TALENT

Bangalore: Executives have a unique opportunity to boost the motivation and productivity of their top talent without spending lots of money, with today's stale job market limiting employees' mobility. But the fact is that when it comes to managing their emerging leaders or high potentials, many companies are missing the mark, reports Roland Smith of The Wall Street Journal.

Here are the five biggest mistakes companies are making with high-potential talent:

Ignoring the view from the pipeline

This is the first big mistake and it fuels the others. Talent managers and executives tend to discuss the leadership pipeline as if it is theirs to define and control. But talented people inside the leadership pipeline bring their perspectives and experiences to the process. High-potential talent can always go somewhere else. Center for Creative Leadership research shows that even though 95 percent of high potentials say they are committed to their organizations, 21 percent are still actively looking for another job. In a down economy, they are weighing trade-offs.

Treating all high potentials the same

If you aren't considering the view from the pipeline, chances are you have a one-size-fits-all approach to dealing with top talent. High potentials expect (and usually get) greater visibility and access to senior managers, special assignments and training, and greater responsibility. But they also want some say in how these perks and assignments play out.

Leaving high-potentials on their own

It's a mistake to give high potentials free rein to direct their careers. While they want to influence their direction, they are also more committed and engaged when they have a clear career path. High potentials want to know what the next steps are in terms of development, experience and movement. Plus, companies need to be sure the talent they have is the talent they need and that it's deployed well.

Not using high-potentials to develop others

While high potentials receive increased opportunities and investment, they are also powerful talent developers in the organization. They have insight and experience needed for developing the next layer of high potentials as well as the larger talent pool.

Being unclear about high-potential status

Using your high potentials well means knowing who they are and ensuring they know it, too. Organizations that do not formally identify their top talent are undermining their performance and run the risk of losing valuable people. CCL research found that formal identification as a high potential is important to 77 percent of managers. Not being formally identified as a high potential keeps the door open for doubt, lessens engagement and weakens commitment. Only 14 percent of formally identified high potentials are seeking other employment. That figure jumps to 33 percent for employees who are informally