BMO Financial Group's Lynn Roger and Toronto consultant Timothy Holden discuss how to make the most of your high potential employees.
Video transcript below:
Caitlin Nobes, HRM TV
Caitlin Nobes: You think you’ve got some high potential employees, find out to identify and engage and retain your top performers. I’m Caitlin Nobes, you are watching HRM TV.
It’s a common refrain that 20% of the people do 80% of the work and these top performers are highly sought after. Not only are they more productive, but also more innovative, creative and better at problem solving. But in a world where there is more competition than ever for employees, how do you keep these high performers happy?
Timothy Holden, Toronto Training and HR
Timothy Holden: They can customise the role. So they can to retain and develop high performers they can allow to some extent that individual to dictate what that role is.
Caitlin Nobes: Often secondments, sabbaticals and flexible work options can give these high performers the variety and freedom they need to stay engaged. Many are also motivated by being given extra responsibility and an opportunity to have input into the direction of their department or the company. But how do you identify these high potential employees and go about turning potential into performance.
Lynn Roger, Chief Talent Officer, BMO Financial Group
Lynn Roger: To identify potential, you have to have really set criteria, simple criteria and I have to say that a lot of HR professionals overcomplicate things and I have been guilty of that in the past. And so I think our success lies in the fact that our processes are consistent across the company and we have a company of 47,000 employees and over 7,000 leaders.
Caitlin Nobes: Roger also stresses the importance of a top down approach where company leaders support and engage developing high performers.
Lynn Roger: And I would say that we’ve done tremendously well in the last couple of years in being very clear and candid with individuals that have potential, about their strengths and weaknesses. You know in the past you just say, oh you are great, you are great and then you wouldn’t follow through on career development planning.
Caitlin Nobes: For more information on developing high performers, check the links below this video. I’m Caitlin Nobes, thanks for watching HRM TV.
See also: Promote from within