How Can CIOs Pick Tomorrow’s Stars?
To top it all off, of the duties that the person who holds the CIO job is required to perform among the most important tasks is to identify the future leaders. This means that of all the employees the company has, a few are more successful than others. What a CIO should be competent to do is identify whom the company should make an investment in and who should not invest in. It’s not that easy, does it?
The challenge of trying to Find Tomorrow’s Stars
All employees are not alike. Certain employees have the abilities and capabilities that enable them to grasp the importance of technology and advance to the top of the ladder. What CIOs need to do is be able to recognize those individuals who are able to do this. The reason choosing the next generation of leaders is so difficult is that we don’t do a great job at this. An examination of the managers in 134 different organizations found that they select the most suitable candidates about 50% of the time.
Currently, CIOs give the responsibility of identifying the employees who have the potential to be leaders to their bosses. Managers are influenced by their own intuition about an employee or their results from annual assessments in making their choices. Given that they’re incorrect half the time, that implies that a substantial part of the US$70B to US$75B spent by companies on training their employees each year is most likely wasted on the wrong employees.
The thing that makes picking new business managers more difficult for CIOs is that the process of selecting future business leaders can be difficult. CIO is the truth that when supervisors are put in charge of a group and then are asked to choose the best employees, they most often than not choose candidates who are like themselves.
Strategies to Increase Chances of Picking the Right People
CIOs must become better at identifying the best group of employees who are the right people to be the company’s leader in the near future. Research has proven that when employees are chosen as part of an elite (“hi-pot”) class, the majority of them remain on for longer and work harder in their work. However, there’s one drawback to this selection of the top. The majority of your employees are deemed to be hi-pots. Approximately 70% of the rest could turn into “po-po’s,” “pissed off and ignored.”
To become better in the selection process of the most suitable hi-pots for the right job increasing numbers of companies are beginning to employ assessments similar to the ones that are used to assess the top talent. These tests are being used to test hundreds of employees across various levels within the company. One of the issues of this approach is that these tests could be quite costly. The vendors who create HR software are beginning to create solutions of their own. They claim that algorithms created with a variety of measures can provide valuable data about the potential of high-potential employees.
What does this mean for What Does This Mean For
CIOs are responsible for assessing the staff of their company so that they can identify the brightest stars of the future. This job is more difficult than we are aware of. What we really require is the ability to make precise forecasts about the employees we have who are likely to succeed.
It is apparent that in the majority of companies, they only select the future stars 50 percent often. Most of the time, the future stars are chosen by an individual manager’s gut feeling. It is discovered that managers are more likely to select stars that resemble their own. One of the biggest drawbacks to choosing the stars of your staff is the way it affects how others in your company feel.
Finding the company’s leaders of the future is a crucial aspect of being a person who holds the CIO post. We do not have a precise method of doing this. New tools are being developed which are intended to assist us in making better choices for our employees. It is important to be aware and test the waters to determine if these tools will allow us to precisely select the top leaders your company will require.