How HiPo Rating Helps People Managers to Take Critical Decisions Quickly
Introducing the best, helpful niche features to our customers first in the market has always been our motto. It drives us to constantly innovate and implement the features that help our customers achieve cutting-edge performance management. Recently, we launched the HiPo Rating, the powerful feature that helps people managers identify the rising stars in their organization. And it becomes an instant success with our customers. It helped our customers to take progressive actions to engage, nurture and retain the high potential talent pool and build a robust succession pipeline within.
Why do you need to find high potential employees?
No two employees are alike. Most are talented and few others are super-talented. Most employees have potential and few other have high-potential. According to an HBR survey, roughly 5% of your workforce comprises of high-potential (HiPo) employees.
The HBR research highlights that organizations spend a huge amount of money to develop HIPO programs that target only 5% of their employees. Moreover, 79% of HIPO programs are unsuccessful or failed to produce the desired result. The primary reason for the failure is misidentification of HiPo employees.
Most organizations failed to identify the right candidates or they jump the gun and considered them fit before closely scrutinizing them. You need not rush and decide their suitability at once. Sometimes it is worth to wait and see their consistent behavior patterns in various situations such as the high-pressure, or the adverse environment.
Monitoring and tracking their high potential scores, over a period of time would be advantageous before signing up them in HIPO programs. Finding the right HiPo candidates is the key to the success of HIPO programs.
Some of the virtues that throw the spotlight on high potential employees
The shining stars cannot stay hidden forever. Here are the key indicators that help identify the high potential employees.
High performance: High potential employees are always high performers but not all high performers are high potential employees.High potential employees are always high performers but not all high performers are high potential employees. Click To Tweet
Readiness to take new opportunity: Exhibit a natural readiness to take up new assignments or new roles and responsibilities. They can rapidly learn/reskill to fulfill their role efficiently.
Emotional maturity: They are emotionally stable, and manage challenging people and issues responsibly and sensibly. They are dependable in both best and tough times.
Genuine fondness towards team members and their growth: It is the prime leadership quality. They just don’t use people instead they help people to develop and grow and garner their respect and commitment.
Cultural Fitness: They emulate company culture and values to the ‘T’ and are a role model and inspiration to others. There are tools available to measure values adherence. Synergita’s Core Values Rating helps measure the values adherence of leaders and employees.
Who are your mission-critical employees and why you need to identify them?
Every organization has employees who are not high performers or rainmakers. They are “normal” performers nonetheless their role is mission-critical. They possess the necessary competency and skills that are crucial for project continuity and are hard to replace. Companies must identify these employees in critical positions and take measures to retain them for uninterrupted operations and business continuity.
Companies must identify employees in critical positions and take measures to retain them for uninterrupted operations and business continuity. Click To Tweet
Identifying mission-critical employees enables companies in devising succession planning, creating employee development plans, retention policies and other approaches. You may initiate reskilling, upskilling and cross-skilling development programs to build a robust talent pipeline. In some instances, their specialized knowledge, technical expertise, institutional experience, direct relationships make them unique and hard to pass the knowledge to successors. A focused retention policy will help you retain such rare talents.
HiPo Rating in Synergita
HiPo Rating is the first-of-its-kind multi-dimensional employee value scoring system to evaluate their true merit. It is the weighted average of your employees’ performance, potential and criticality ratings. Managers or department heads can determine the potential of the employees and their criticality score. This helps the HR team and the management to identify the HiPo employees who are valuable to your company currently and in the future too. The potential, criticality and HiPo scores are visible only to the management and help to make several strategic HR management decisions.
Benefits of HiPO Rating in your Employee Performance Management System
- A combination of performance, potential and criticality rating helps you overcome the shortfalls of evaluating your employees using just one performance metrics.
- HiPo Rating can be used as a ready-to-use score to identify your employees who are suitable for HiPo programs and other focused talent nurturing programs.
- HRs can refer this score while making promotion and compensation decisions.
- Historical HiPo Rating data can be beneficial while selecting future leaders for succession planning.
Customer Use cases
All things in the universe are changing, evolving and sometimes regressing. So do the employees’ performance, potential, and criticality. HiPo rating is not a static score. Employees’ performance, potential and criticality scores can be determined by their managers for every review cycle. HiPo Rating of an employee varies based on the above factors.
For example, Ben and Laura are working on the same project. Ben is a high performer and has high potential too. Laura performs well but not considered as high potential but her role is mission-critical. Their respective HiPo rating outlines their standpoint. HR after referring Ben’s HiPo rating makes a compensation revision and signs him up for HiPo program, a precursor for succession planning. For Laura, they revise her compensation as her role is crucial and her expertise is hard to come by. If Ben’s successive HiPo rating is consistently high then he will be groomed for future leadership.
Identifying HiPo employees and focus on engaging, nurturing and developing them to be future leaders is the simplest way to achieve sustainable growth. Synergita’s HiPo rating is the easiest way to identify HiPo employees.
A leading technology solution provider delivering healthcare and life science solutions has successfully used Synergita’s HiPo rating to identify high potential employees for niche and leadership training programs. Our customers use HiPo rating for their unique purposes and reported measurable improvement in the results.
Worldwide several organizations use Synergita to manage employee performance and to create continuous feedback culture. You can define SMART Goals for your employees, share performance and development feedback on goals, track their progress, exchange continuous feedback, give virtual, awards & rewards and conduct annual, quarterly or monthly performance appraisals efficiently using Synergita.
We have everything to engage, nurture and develop employees and track and assess their performance.
Take our Test Drive and see how easy it is to use and manage your employee performance.