Historically business cull staff indiscriminately in a recession. They look to loss making divisions and sell, or shut them down.
This downturn is different. Business are making much smarter people choices and desperately trying to hold on to talent. This will make them stronger businesses in the upturn…but how do you keep high potentials engaged when growth opportunities are few and far between?
Michael Gravelle, MD of The McQuaig Institute, says there are four ways:
- Understand who you are dealing with
- Re-define your definition of a high-potential
- Involve the High Potentials in revamping their development strategy
- Give High Potentials a stretch assignment.