Source | ReviewSnap
Developing a culture that supports and nurtures high potential employees is not reliant on one or two simple factors. The entire context on which your business operates impacts your results. One of the most important aspects is the culture of your company – how things get done, what works and what does not work as far as behaviors go, how you give performance-based feedback and how decisions get made.
To be able to build and retain high potential employees you must establish and maintain your company culture. In fact, more than 50% of respondents in a survey by Duke’s Fuqua School of Business said that company culture influences productivity, creativity, profitability, firm value and growth. There is no ‘one size fits all’ when it comes to culture and how it develops high potential employees, so here are some tips to help foster just that:
SPELLING OUT YOUR PREFERRED CULTURE.
This may sound like the obvious, but you would be surprised how often it’s missed. Only 15% of firms report having a company culture where they needed it to be. A lot of this has to do with a lack of communication between management and employees. Spelling out your preferred culture is often set by creating guidelines and values, but it is important to support and act upon these values. Below are a few questions you can ask yourself about your company to get this process started:
● Which aspects of our current culture are we unhappy/happy with?
● What preferred behaviors do we need to create to get the HiPo employees we want?
● How do we measure up against each of our preferred behaviors?
CONNECT TO THE BIG PICTURE.
Many employees that you will hire will want to be able to see their future within your company. To build high potential employees in your organization, it’s important to tie everything into ‘the big picture.’ Meaningful targets and goals are proven effective in motivating employees. Only 14% of companies report having workers who understand the company strategy, goals and direction. Only 5.9% of companies communicate goals daily, which can be problematic.