Grooming A Star Performer

What steps can be taken to groom an executive with high potential so he/she can rise to the next level? Having said that, lets assume that the individual has an excellent track record, is well thought of by management, and wants to rise as high as possible.

The first thing I would want to know is what is the track record? What jobs have been held? What direction does the individual and the management team see this person going? In other words, CFO, CEO, COO, President, etc. Next, we would discuss several possible steps to get there including focusing on the preferred option. That will enable us to take some short-term action on the needed next assignment. This would be built into the succession plan and when conditions are right, we would take the necessary action. Also, key decisions like mentoring, university executive development programs, international assignment, specific skill development such as communications, negotiation style, etc. would be decided upon.

Concurrently, we would spend time on more of the soft side issues. What are the person's strengths and weaknesses? We would do a self assessment as well as some formal assessments including the Thumbs Up-Thumbs Down, Myers-Briggs, and the Birkman. Additionally, this would be the appropriate time to focus on leadership style and personality assessment.

Along with formal assessments, we would advocate a multi-rater (360) feedback tool specifically designed around the individual's strengths and weaknesses. After determining an appropriate mix of participants, we would interview each trusted colleague and gather feedback for our executive. Then, we would summarize the information and report it back to the executive. In spite of how positive most of the data will be, most executive's will be told that they have room for improvement. After much discussion and debate, an action plan will be written to develop the weaknesses while at the same time not losing site of the strengths. The action plan should contain specific objectives, time frame, and metrics to measure progress. The mentor or coaches' role is to make sure that the executive stays on point and actually accomplishes the plan.

How do YOU groom a star performer? Do you just automatically assume that they will succeed and therefore do not require coaching? Why should you spend money on your top performers? I will tell you why. They represent your future. They are the ones that will make your company succeed or fail. As good as they are, they can get even better. Also, keeping them highly motivated will prevent them from looking around at other opportunities. You cannot afford to lose your stars---at any cost. Invest in your leaders and watch your bottom line soar!

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