5 Retention Strategies for High Potential Employees
Did you know that 1 in 2 employees are open to leaving their jobs? For employers, that’s a tough reality. And the numbers are no different for the high-potential (HIPO) employees that you absolutely need to keep around!
Via Gallup
Combine this with the fact that employee happiness is at an all-time low, and HR leaders face quite a conundrum. Overcoming these challenges requires active involvement from employers and HR leaders. They must work not only towards providing an environment that fosters and encourages growth for each individual employee, but supports the development objectives of the organization as a whole. You don’t want to develop employees only to see them take their skills elsewhere.
But how? Below, we discuss five retention strategies for high potential employees. Implementing these strategies will allow HR leaders to ensure their most promising employees are recognized and will help them improve low engagement scores.
1. Help HIPOs See Themselves as HIPOs
It’s common for HIPO individuals to not see themselves in the conventional light of “destined for leadership.” In fact, they might not even aspire to traditional management roles. Yet, these employees frequently feel unfulfilled and dissatisfied even if they don’t realize why.
The root of their discontent is an absence of challenges, developmental opportunities, or growth.
It’s up to HR leaders and managers to recognize the hidden gems among their teams. Remember, identifying HIPOs is a prerequisite for any other retention strategy that you might want to employ for high potential employees!
Have regular employee development conversations. Work to create an environment where each employee can explore and realize their potential on their own. This approach requires a keen eye for spotting talent when it might not loudly announce itself. It means asking the right questions, actively listening, and observing performance and behavior over time.
Learn more on how to develop high potential employees!
For instance, an employee who consistently delivers exceptional work but remains quiet in larger group settings could easily have unexplored potential. Engaging the person in one-on-one discussions about their thought processes, approach to work, or personal aspirations can be enlightening. These interactions not only help employees to see their capabilities, but it builds their confidence.
2. Recognize Talents and Brainstorm Together
Effective retention of HIPOs means recognizing the unique talents and skills of your employees. But it’s not enough to simply acknowledge these abilities, managers must actively engage in discussions that explore and expand them. This process begins with keen observation and is followed by thoughtful career development discussions.
Encourage your managers to track where each of their team members shines. Then, engage in conversations that encourage further development of these attributes. For instance, after noting a team member’s skillful handling of a client complaint, a manager might say, “You really put yourselves in the customer’s shoes. How did you get to understand their needs so well?” This type of open-ended dialogue opens a path to deeper engagement and makes space for a true career growth conversation.
People crave real discussions about their talents, whether they realize it or not. According to Forbes, 66% of employees would leave their job if they felt unappreciated. For Millennials, that percentage climbs to 76%!
Regular, structured brainstorming around career development can help buck that trend by ensuring employees feel seen and understood in their current roles. It also is a clear, active signal that you are invested in their continuous growth, not just the output of their work.
3. Pair Recognition with Collaborative Discussion
Retention lies in respect. Recognize the contributions of your employees, and then further develop their skills and abilities. You can do this with virtual employee development programs.
For example, after acknowledging an employee’s excellence in data analysis, a manager might engage in a conversation to go deeper: “I noticed how well you analyze data reports, and your insights are invaluable in our decision-making. What skills are you applying here? How do you envision developing these skills further?”
Regularly engaging in collaborative dialogues like this shifts the focus from a static acknowledgment to a dynamic, career growth-oriented conversation. It helps employees to take ownership of their own development and seek out their own opportunities for growth.
These employee coaching and development talks are crucial for all employees, but especially for HIPOs. It shows appreciation and resonates more profoundly than promotions or pay raises alone. It demonstrates an organization’s genuine commitment to each employee’s career path and personal development, making it one of the best retention strategies for high potential employees.
4. Avoid Promotion-Focused Direction
Development is a journey, not a destination. Promotion-focused conversations can inadvertently set a counterproductive tone. Traditional questions like “Where do you see yourself in five years?” might seem like encouragement. But it’s the opposite.
They create a narrow vision that overlooks the broader scope of personal and professional growth. Further, presenting promotions as growth risks feeling transactional. Not only are there generally a very small number of suitable internal positions available, but they present a very limited view of professional development.
If a HIPO doesn’t land a promotion, that can lead to disappointment and disengagement. Remember, Gallup notes that employee engagement is already at an all-time low.
Effective development looks at the ongoing journey and how the employee can continually contribute to and grow with the organization. It’s about fostering a work culture where the focus is on enhancing abilities that align with both the employee’s aspirations and the organization’s strategy.
Learn how to create an employee development plan that works.
5. Develop a Culture That Provides Regular Opportunities for Growth Conversations
Regular growth conversations are a cornerstone of a healthy work culture that retains HIPOs. But it should go beyond managers. Instead, the entire organizational ecosystem must be geared towards recognizing and developing HIPOs. This approach ensures all employees, and particularly those with the greatest ability to provide outsized contributions to your organization, remain motivated, engaged, and committed.
Valuable interactions include check-ins where managers and employees assess current skills, set future goals, and track progress over time. For instance, a manager might ask, “Last month you rated yourself a 6 out of 10 in project management skills. How do you feel about that skill now?” These simple questions encourage employees to take ownership of their growth and reflect on their development journey.
A culture that values regular growth discussions is beneficial for all employees, not just HIPOs. When employees see that growth is a priority and that they have avenues to discuss and develop skills, they are much more likely to feel satisfied.
Plus, it helps prevent frustrations that can arise when individuals feel development is overlooked or misaligned. It creates an environment where employees know their growth is not just a checkbox that happens once a year, but a continuous process.
Retain Talent with These Retention Strategies for High Potential Employees
If you’re not focused on developing a culture of retaining HIPOs, your competitors are. In fact, 49% of companies identify improving talent progression as a key business practice in 2024.
In other words, those 1 in 2 employees looking for new jobs we mentioned above will find one.
Are you ready to take action to keep them?
Learn how PILOT approaches employee development and coaching by booking a demo today!
