by Jean Martin and Eugene Burke
The best businesses recognize they need a strong bench of talent that will rise up through the firm. Our research indicates that organizations with a strong reserve of leaders have twice the revenue and profit growth of less well-staffed competitors.
In a quest to reach high performance, many companies are focusing time and resources on developing high-potential talent—what we call HiPos. Not only are HiPos almost twice as valuable to an organization than their non-HiPo peers, they are also three times more likely to succeed as future leaders. Since 2012, in fact, 68% of organizations have increased their spending on HiPo programs.
Success isn’t a sure thing
However, simply offering a HiPo program doesn’t guarantee business success. In fact, more than half of high-potential employees enrolled in these programs will turn over within five years. Of those who stick, nearly half fail to meet busin...(register to read more)