Keeping tomorrow's leaders today

Citi Canada implements program specifically for high-potentials
By Christine Discola
|Canadian HR Reporter|Last Updated: 12/15/2014

In today’s hypercompetitive business climate, staying in close contact with high-potentials and ensuring they have a development path is crucial. As many as 25 per cent of these employees plan on leaving their jobs within a year, according to a 2010 survey of 50,000 employees by the Corporate Executive Board (CEB) in Arlington, Va. 

Major corporations spend an average of $3 million every year on leadership and development programs for high-potential employees, but 55 per cent of these employees will turn over in a five-year period, resulting in wasted dollars and an insufficient leadership bench, according to CEB. The inability to establish a strong, diverse leadership pipeline impairs bottom-line performance, since organizations with weak leadership generate roughly one-half the revenue and profit growth of those with strong leadership, it said.