Smart companies are continuing their talent programs so that they can develop and retain their best and brightest employees. This is especially important in troubled companies, whose high potentials may be tempted to switch to a company on sounder financial footing. Remember: your best employees are the ones with the most options available to them.

I recently interviewed several companies about their learning and talent development programs. I’ll talk about one example here – Wipro Technologies, an India-based IT services firm with operations in more than 35 countries.

Executives at Wipro know that to stay competitive, they must focus on developing talent in critical roles. One of these roles is project manager – a vital link between Wipro’s technical professionals, who deliver the IT projects, and its client relationship managers, who ensure that Wipro provides real business value to its clients.

To support learning and talent development in this critical role, Wipro established the Project Management Academy (PM Academy). Not every project manager can attend the Academy - only high potentials nominated by their managers. To help managers identify candidates for the program, PM Academy leaders provide business units with a set of characteristics of successful project managers. Candidates must have some front-line manager experience, as well as pass a formal entrance test to gain admission to the program.

Once admitted, participants complete a rigorous, six-month Future Manager Program designed to develop core people management competencies. During the course of this program, mid-term reviews are conducted to assess participant performance and determine whether participants will continue the program.

For participants who successfully pass the Future Manager program, the next phase begins with a 5-day course on basic project management training. A week after completing the course, participants must complete an online assessment, achieving a 70% or better score on each topic to move into the next stage. Candidates can retest only once; if they fail the second time, they either choose to leave the program or retake the basic course after a six month waiting period.

During the next phase, participants go back to their current project teams and roles for a period of six months. Participants are assigned mentors who engage them in an assignment to review some aspect of their current projects. At the end of each assignment, candidates present their findings to PM Academy instructors for review and comment. This cycle of assignment-analysis-review may repeat several times. At the same time, PM Academy staff members begin to look for future PM roles for each person who comes through basic training.

At the end of the mentored project work, participants return for another 5-day training course on more advanced project management skills. Again the candidates are tested on these topics after completion of the course. Those who pass become Certified Project Managers and are placed into PM roles.

Using this program, Wipro has had great success in developing and retaining project managers – a critical role within the company. A few things I want to point out about the program. One is that the entire program lasts over one year and incorporates formal classroom training, on-the-job experience, and “real world” assignments completed with a mentor. It’s not just a short-term training event. Successful organizations have recognized that skills and behavioral development takes place over time using a phased approach with continual reinforcement.

Another aspect of the program is that it is very business-focused. Many of the PM Academy leaders and instructors are former successful project managers, rather than career L&D professionals. The real-world expertise gives the Academy credibility and ensures that it is focused on relevant business capabilities.

And a third key ingredient is that Wipro integrates the program with other talent-related activities. Academy leaders analyze performance data from past graduates to modify the learning and development program. They provide recruiters with the characteristics of high performing project managers to assess external candidates. And Academy leaders and business unit managers forecast the skills and job roles needed in the future, and modify the program accordingly.

This is a great example of a successful talent development program. If you want more examples of high-impact programs, check out Global Learning & Talent Solutions: Best Practices across North America, Europe, and Asia, available in our research library.