What Is Fast Tracking?

Fast tracking is a management practice where certain employees are chosen for rapid advancement based on their outstanding characteristics, often involving special midcareer training programs.

Fast tracking is a strategic management concept where specific employees are identified for accelerated career progression. These employees, often referred to as “fast trackers,” are selected due to their exceptional performance, leadership potential, and other notable characteristics. The objective of fast tracking is to prepare these high-potential individuals for crucial leadership roles through targeted training, mentorship, and career development opportunities.

Types of Fast Track Programs

Internal Fast Track Programs

These programs are developed and executed within the organization. They may include:

• Leadership Development Programs: Focused on building leadership qualities and skills.
• Special Projects: Assignments that offer high visibility and significant responsibility.
• Cross-functional Rotations: Allowing the employee to gain exposure in various departments.

External Fast Track Programs

Involving external entities, these programs may include:

• Executive Education Courses: Often offered by prestigious universities.
• Industry-Specific Certifications: Enhancing specific technical or professional skills.
• International Assignments: Providing global exposure and experience.

Special Considerations

Selection Criteria

• Performance Metrics: Historical performance reviews and achievements.
• Leadership Potential: Assessments through psychometric tests and situational judgments.
• Soft Skills: Attributes such as communication, teamwork, and adaptability.

Equity and Fairness

• Ensuring the selection process is transparent and merit-based.
• Regular audits to eliminate biases.
• Providing feedback to non-selected employees to support their development.

Organizational Impact

• Retention Rates: Fast tracking can improve employee loyalty and retention.
• Innovation: Encourages a culture of continuous improvement and innovation.
• Succession Planning: Creates a well-prepared leadership pipeline.

Examples of Fast Tracking

Corporate Example

At Company XYZ, fast trackers undergo a three-year rotational program covering various functions like marketing, finance, and operations. They also receive mentorship from senior executives and complete an MBA funded by the company.

Government Example

The Civil Service Fast Stream in the United Kingdom identifies high-potential civil servants and places them in accelerated training and career development programs, including diverse roles and specialized training.

Historical Context

The concept of fast tracking gained prominence in the late 20th century, aligning with the increasing need for organizations to respond swiftly to market changes and technological advancements. It has evolved from informal practices to structured programs endorsed by corporate training and development departments.

Applicability

Business Sector

Incorporating fast tracking in corporate settings supports dynamic leadership development and ensures a competitive edge.

Public Sector

Governments use fast tracking to build a competent and efficient bureaucratic leadership capable of addressing public needs effectively.

Comparisons

Fast Tracking vs. Traditional Career Paths

• Traditional Career Paths: Characterized by a linear and gradual progression.
• Fast Tracking: Provides accelerated progression, often jumping traditional steps.

Fast Tracking vs. Talent Management

• Talent Management: A broader concept encompassing recruiting, developing, and retaining employees.
• Fast Tracking: A focused subset aimed specifically at rapid advancement for high-potential individuals.

Related Terms

• Succession Planning: Preparing for future leadership by identifying and developing internal talent.
• Mentorship: Guidance provided by experienced professionals to foster the growth of less experienced employees.
• Employee Development: Activities that enhance employees’ skills and abilities for better performance and career growth.

FAQs

What qualifications are necessary for fast tracking?

Typically, a combination of exceptional performance, demonstrated leadership potential, and strong soft skills are required.

How can an employee get noticed for a fast track program?

Employees can stand out through consistent high performance, taking on challenging projects, and seeking continuous personal and professional development.

Are there any downsides to fast tracking?

While beneficial, fast tracking can lead to feelings of favoritism among non-selected employees. It’s crucial to manage perceptions and provide developmental support to all employees.

References

• “Principles of Management” by OpenStax - A comprehensive resource on management practices.
• Harvard Business Review - Articles and case studies on leadership development and talent management.
• Society for Human Resource Management (SHRM) - Research and publications on various HR practices, including fast tracking.

Summary

Fast tracking is a valuable management practice focused on the rapid development of high-potential employees. By investing in these individuals through targeted training and developmental opportunities, organizations prepare them for essential leadership roles, fostering a proactive and competent leadership pipeline for future success.