The fundamental talent strategy of an organization is to recognize high-potential candidates and ascertain the growth and retention of existing employees. Organizations confirm the criticality of identifying high-potential workforce as a necessary measure to maintain their industrial stature. Such measures help a business sustain even in extreme competitiveness. High-potential employees, also known as HIPO, consist of a pool of productive leaders who can generate as well as lead business ideas.
The Ashok Chaturvedi-led flex packaging giant, Uflex, uses a talent identification approach called – the nine box matrix. The technique focuses on ‘potential vs performance’ to sort high performers with high potential talents. The Uflex MD states, drafting a unique development plan for each of these boxes is part of the organization’s high performance yielding strategy. The practice of preparing drafts facilitates the development procedure. Meanwhile, past performance, behavioral attributes, competencies, business challenges, and leadership qualities of the performers are all taken into consideration as selection parameters.
The approach of recognizing HiPOs at Uflex is said to not only advance the selection criteria, but simultaneously increase brings general awareness about impartiality in varied businesses. A representative from the firm states, “First, the selection criterion is communicated to the business head/CEO, which, in the case of Uflex, is Ashok Chaturvedi. The concept of 9 box matrix is explained as part of it. Complete demographics of the aimed employees are showcased, followed by a discussion about each case, in a structured setup.”
At Uflex, the high-potential employees go through a structured path of career building. Utmost importance is paid towards the development of each one’s career graphs. According to Chandan Chattaraj, President of Human Resources (India & Global) at Uflex, “The present KRAs of employees are discussed, along with the respective reporting managers to make developmental plans for future. The employees are also given the opportunity to work on certain projects by visiting our global locations for that purpose, which is again a part of the same developmental plan.”
Developmental plans of the HIPO program not only improve the future selection procedure but also up the level of employees currently working with Uflex. International work experiences develop a pool of decision-makers with high-potential mindset and helps learn adaptation to different cultures for an overall employee growth.
With the high-potential vision of Ashok Chaturvedi Uflex has become a global leader in flex packaging industry. Currently, the brand is an emerging player in flexible packaging and offers packaging solutions to varied industries all over the world.