Human capital is the most valuable asset for the vast majority of organizations. Attracting and retaining it presents a serious challenge even more so in markets like Myanmar where the talent pool is not as developed yet. According to a Roland Berger HR study, in collaboration with JobNet.com.mm and Dale Carnegie Training Myanmar, 75 percent of mid-sized and large companies in Myanmar consider finding and retaining talent to be one of the most critical challenges. 

It is not enough for companies to only acquire qualified and skilled candidates in the job market. What is also needed is to develop and improve the leadership skills of your top talent in your organization. It starts with identifying the leaders of tomorrow, and while this is a complex endeavor, here are 3 ways to identify top talent that you can add to your toolkit:

Influence and Collaboration

Understanding how top talent collaborates and influences others within the organization is key. Being able to influence is considered an important way to identify employees with leadership potential. Employees who can communicate effectively across the organization and spend more time collaborating internally than others are more likely to show the qualities of a leader.

Personality vs Company Values

It is important to assess the character of employees by considering how the employee reflects the company’s values. Generally, a well-developed personality assessment can successfully map out such traits fairly accurately. With this, organizations can identify their future leaders in a more objective manner by systematically breaking down the personality or character of their employees. 

Consistency in Commitment

Work commitment can be defined as the level of enthusiasm that an employee has towards his/her tasks assigned at the workplace, which can indicate the attitude of the employee towards the goals, mission, and vision of their organization. You can make this assessment by identifying who is consistently putting in an extra effort not only during the good times but especially during challenging times. The best leaders tend to be resilient and will be able to deliver high performance even during times of crisis.

The cost of hiring a new employee is more expensive than retaining a great employee over the long term. Therefore, if you implement a well-structured coaching or leadership development program to enhance the abilities of high-potential employees in your organization, you can save time and money and grow your businesses.