Engaging high-potential employees (HIPOs) is critical to business success. After all, between 50 and 70 percent of organizations feel they are impacted by a shortage of qualified leaders.
If you struggle to give feedback to your employees, you’re not alone; some 37% of managers find it hard to give feedback to workers about their performance.
The top 1% of your workforce accounts for 10% of organizational output. The top 5% accounts for 25%. It’s no wonder that 66% of organizations report that they purposefully identify high-potential employees.
The Future of Competency Models, Part 2. In our last blog post, we came down a little harsh on competency models. We aren’t going to apologize though; it was pretty well-deserved.
The Future of Competency Models, Part 1. The words “competency model” may feel a little dated, but competency models — when created and used correctly — are only just reaching their heyday.
There is no shortage of ways to provide employee feedback. Holding one-on-ones? Using a 360? Offering in-the-moment feedback via an app? Soliciting self evaluations? Rating people on scales or against behavioral checklists or career objectives?
Organizations are increasingly putting money into employee training efforts. In the U.S., among companies and educational institutions with 100 or more employees, spending on external training products and services increased 32.5% in 2017 to $90.6 billion.