The new Hogan High Potential Report is here!
Written by Rebecca Fowkes
Today Hogan releases a new model for identifying high potential employees. As leadership is a mix of our identity and reputation, Hogan has worked hard to develop a model that identifies both. This new model looks at leadership foundations, leadership emergence and leadership effectiveness. By identifying these three dimensions and associated nine competencies, the model is able to uniquely correlate whether an individual has high potential.
The High Potential report is designed to help organisations identify high potential leaders from their selection of high performing candidates. This report utilises one of the most psychometrically validated tools on the market – the Hogan suite, consisting of the HDS, HPI and MVPI and is released after 30 years of independent research, having been validated on more than 21,000 global managers from every industry.
Leaders can often be seen as emergent individuals, where they appear smart, confident and charismatic. They know which relationships need to be built and form alliances in the places that will help them succeed. These are common characteristics in those which emerge as leaders, but that doesn’t necessarily ensure that they are an effective leader. Effective leadership is the ability to build and maintain a team that can outperform competition.
“Research shows that only 30% of current high performers are actually high-potential employees, and most employees (more than 90%) would have trouble at the next level.”
The report looks at identifying the difference between an emerging and an effective leader through the use of Hogan Assessments. With an emerging leader being one who is able to make the most noise, and be the most obvious selection to the wider group for leadership, the effective leader is someone who is able to create a positive impact on the performance of a business, by motivating their team and providing actionable insight and direction.
“Losing a High Potential employee can cost the organisation 3.5 times his or her annual compensation.”
With the new High Potential report from Hogan, organisations should be able to identify, select and support the best in their business, potentially saving millions by avoiding a failed hire. The stakes are high when it comes to selecting new leaders and leadership team, with top management having the biggest impact on organisational performance and the CEO alone accounting for up to 29% variance in profitability.
Hogan have also released a sample report and e-book to provide further information on the new report. If you need any more advice, or would like a chat with one of our consultants about using this report, then give us a call on 01327 437 000.