Talent Management

Research confirms that talent management is a top issue for HR as 40% to 70% of all senior executives in most major corporations will become eligible for retirement in the next 5 years (Gandossy & Kao, 2004). In our increasingly knowledge-driven economy, intellectual property is everything, so organizations are right to fear this "brain drain," suspecting that when senior executives leave the firm, the business may follow (Bannister, 2005). Yet high potentials – those most likely to rise to fill those highest positions – account for less than 8-10% of the talent pool. So finding and retaining such rare talent is a mission-critical challenge for organizations and their HR directors.

Talent management includes all types of talents, from star performers to stable contributors to technical specialists. Some organizations have specific strategies for each type of talent, to develop and retain all types of solid performers. There is a lot more secrecy around who represents the top 8-10% of talent, the high potentials. These gems and diamonds in the rough are rare and thus coveted by the organizations that have, want, or need them. Even those selected as high potentials may not know that their names are atop the talent list.

Who are these high potentials?

What differentiates a high performer from a high potential? Being a high potential entails more responsibilities, more commitment, and often more mobility. Using Lominger’s (CITE) research-based definitions, a high performer consistently delivers results over time. The focus is on an individual’s sustained, not just recent, performance (Walker & LaRocco, 2002). A high potential, by contrast, has "learning agility," Lominger's research-based predictor of high potentiality. Learning agility means an individual "can quickly respond to diverse, intense, varied and adverse assignments…demonstrates superior performance under first-time or different, not repeat, conditions… [and] eagerly learns new competencies in order to perform." (CITE)

Thus the high performer’s redeeming quality is sustained performance over time in relatively similar situations. The high potential goes beyond this, with an uncanny ability to learn how to deal effectively with first-time or changing situations, applying new and prior learning to each new challenge. Both kinds of talents are valuable to the organization. High potentials have simply not reached their full potential. Having almost unlimited capacity for growth, they are groomed for senior or C-suite positions. Why are high potentials so rare? They are high performers who also demonstrate incredible learning agility, outstanding results in constantly changing environments, and a tenacious commitment to growth and change.

Secrecy