Due to competition and business complexities in a global working environment, the talent marketplace has undergone a strain which is still continuing. Today, there is a shortage of good talent and in juxtaposition to this, the demand for high potential employees has considerably increased. It is estimated that globally, 38% of employers are having difficulty in filling jobs.
In such a scenario, organizations today need to prepare themselves to meet the demands for future leaders along with improving organizational performance. It is also imperative that the organizations understand the value of high potential employees and strategize their talent management processes for retaining and managing talent. 85% of organizations see a need to broaden their talent management programs.
Developing high potentials is an important factor when it comes to any business strategy because the reduction in talent reserves that has the potential of filling impending senior leadership vacancies plays a critical role in any organization’s success.