Identifying the individuals in your organization who have the potential to succeed in leadership positions is essential to long-term organizational health. After all, high-potential (HiPo) employees have a high chance of succeeding in roles that are critical to business performance and the future leadership pipeline. No wonder 66% of companies invest in programs that aim to identify emerging leaders. So why do only 24% of senior executives at these firms consider the programs to be a success? Probably because up to 40% of internal job moves made by high potentials end in failure. Obviously, organizations struggle to quantify what truly makes a HiPo employee — and it’s costing organizations millions.
That "secret sauce" is now an algorithm that measures 6 hipo dimensions.
Just because someone is a fantastic individual contributor does not mean that they’ll be a fantastic leader. High-performing individual contributors get pushed into HiPo programs based on their past results, not based on the talent model that industry leaders and experts have scientifically proven to predict future potential. We haven’t come up with a new model; we just found a way to measure it, at scale. Plum quantifies the six dimensions that identify emerging leaders: learning agility, drive, self-confidence, resilience, empowerment, and presence. Make your future leadership pipeline more predictive than ever with Plum.
Plum is the first software for emerging leader identification, which means you can say goodbye to expensive and time-intensive consulting services (or even worse, relying on your managers to identify the HiPo “secret sauce” in employees based on “gut feel”). Now, you no longer have to reserve HiPo identification to a select few senior managers and above; you can measure leadership potential in every single employee.
When the criteria to become an emerging leader is only an undefined, subjective “x factor,” there’s a lot of room for bias, and a lot of people don’t get considered. But it’s in your organization’s best interest to build a leadership team with more diverse perspectives and backgrounds; after all, diverse organizational leadership has proven to trickle down to an overall more diverse organization. And gender diverse companies are 15% more likely to financially outperform their competitors, while racially diverse companies are 35% more likely to do the same.
Moving your HiPo criteria from skills to talents means that you no longer have to wait and see if your employees have the arbitrary “technical skills” to step into your HiPo program. Your resources are also no longer constrained to just the director level — now any individual contributor in any department can be measured for emerging leader potential. That means you can now get young talent (such as students and new grads) into your emerging leader pipeline. You can even identify high-potential in the hiring process!
Plum’s emerging leader model is as configurable as you want it to be. By completing a short survey, you’re able to customize how your organization’s HiPo program prioritizes Plum’s emerging leader dimensions. Our existing model stems from leading industry research, and if there are dimensions that uniquely translate to leadership success in your own organization, we can identify and prioritize those dimensions.