The way companies operate is vastly different now to what it was only a few years ago, and continues to evolve. To stay relevant, you need to prepare for your future before it arrives.
That means either working harder, or working smarter. The latter is about talent and will produce a far more valuable outcome for your business than working harder. So how do you attract and identify the right talent?
This year’s Winsborough Future Trends Conference focused on this important theme. In this blog we share highlights from keynote speaker Tomas Chamorro-Premuzic, CEO of Hogan Assessments worldwide, and an international authority on psychological profiling, talent management and people analytics. Tomas shared his insights on talent and how Hogan’s powerful assessment tool, the High-Potential Report (Hi-Po), can help your business get ready for the future.
What is talent?
The saying goes, “People are an organisation’s most important asset”. While this holds true, many companies are not good at understanding their own or other people’s talent.
There are two categories when it comes to talent: extraordinary achievers whose talents are already clear, and those with potential. The latter is defined as talent before you can see it or “talent in waiting”.
Hogan uses the following model to define talent:
Ability - Expertise and intelligence. This includes what you already know and your potential to learn new things.
Likability - Strong people skills. You are a rewarding person to deal with.
Drive - An inability to be satisfied with your achievements.
This model is deceptively simple. Consider how many people do you know who have all three characteristics? Probability of talent is not the same for everybody. The challenge therefore, is to spot talented people before anyone else does.
The problem with intuition
Finding high-potential employees is critical to the success and sustainability of a business. However, for many companies their method of doing so is flawed. In fact, most organisations still identify potential in their company by a single rating from a manager, using their intuition.
Unfortunately for most people, their intuition isn’t very good, unless they have considerable expertise. Research carried out by Hogan has also found most managers would rather promote likeable people who aren’t as driven and able, to the alternative.
Identifying who has the right potential for key roles within your business may seem like a daunting task, but Hogan Assessments have made it simple with their Hi-Po Report.
A smarter way to find and develop talent
Most organisations struggle to find accurate and useful ways to develop people with the most potential for success as leaders. Data, not intuition is the key to unlocking this potential.
Hogan’s High Potential Talent Report will give you the information you need to prepare talented people for advancement by measuring individual attributes that predict leadership success. This rigorous, assessment-based development solution identifies potential and closes the skills gap between what your organisation needs in a leader and what is in your talent pipeline.
Don’t get left behind. Using Hogan’s Hi-Po Report you’ll have the tools you need to engage the right people and drive your business forward.