Businesses in the United States lose $11 billion annually as a result of employee turnover, according to the Bureau of National Affairs. It’s a mistake let disengaged employees slip through the cracks.
What can be done, then, to keep your employees engaged, identify the talent you don’t want to lose, and foster healthy succession planning and leadership development?
Many companies have implemented an assessment center approach to identify leadership potential. Also called a career development center, an assessment center uses a variety of objective assessments and experiential exercises designed to allow participants to demonstrate their current level of mastery on a number of important leadership competencies and organizational skills. Typically, the goal is to objectively observe and measure the performance of high-potential employees against important leadership competencies that are deemed essential for organizational success, such as market focus and business excellence.
At Droste our assessment center programs consist of four parts:
- Pre-Work: Participants complete a selective battery of validated online assessments of behavioral style, cognitive thinking, and technical skills.
- Two-Day Assessment Center: Participants go through a variety of role-play exercises, simulations, and activities to demonstrate their competencies to trained assessors.
- Feedback: Participants receive written and verbal feedback from a trained coach.
- Action Learning Program: A network of peers in the program engage in targeted dialogue to support each other in the achievement of professional development identified in the assessment center.
Droste has been conducting company career development centers since 2010. Over this time, we have found that 30 percent of participants received a promotion within one year after this experience, and 49 percent received a raise in less than six months. We have also been able to help organizations understand which competencies drive overall success for leaders and which competencies are collectively absent or prevalent in a given culture.
Assessment centers can help direct an employee’s career path and motivation. Employees return to work with a renewed focus, drive, and energy to succeed in their company. And employers know how to leverage the employees’ strengths, assign new roles, and create the best teams for ultimate workplace productivity.
Want to know more?
Droste will be holding a Leadership and Organization Development Exchange (LODE) event on Wednesday, February 28, 2018, from 7:30 am to 10 am. The topic will be “Talent Assessment Centers.” Contact Lily Parker (firstname.lastname@example.org) if you would like an invitation to this free event to get a step ahead in learning how to create an inclusive workplace.
We would love to talk with you one on one. Send us a message and we can set up a call or meeting to talk about how your organization can successfully engage your employees and foster healthy succession planning and leadership development.