Growing Your Company's Leaders: How Great Organizations Use Succession Management to Sustain Competitive Advantage

Growing Your Company's Leaders: How Great Organizations Use Succession Management to Sustain Competitive Advantage

Growing Your Company's Leaders: How Great Organizations Use Succession Management to Sustain Competitive Advantage

Growing Your Company's Leaders: How Great Organizations Use Succession Management to Sustain Competitive Advantage

Synopsis

"Within the next few years, ""baby boomer"" leaders and managers will be retiring in huge numbers. From the executive suite on down, the challenge to put the right person in place for every job is becoming acute. The potential shortfall means organizations must put succession planning at the top of their priority lists. Growing Your Company's Leaders offers the results of a study of five global leaders in succession strategy: Dow Chemical, Dell Computer, Eli Lilly, Pan Canadian Petroleum, and Sonoco. Readers will learn what these and sixteen other high-profile organizations are doing to identify, secure, and prepare the next generation of leaders.

This book examines:

- the link between succession management and business strategy

- the architecture of good plans and how technology can make them better

- the importance of individual employee development

- why senior management support is crucial

- how to monitor the effectiveness of the succession management system."

Excerpt

Few firms are truly prepared for what has come to be called the [War for Executive Talent.] Historically, the population for this stratum of management has grown in concert with overall economic activity (Gross Domestic Product). If economic growth continues at a modest 2 percent for the next decade and a half, this would result in a need for a third more senior leaders than there are today. Yet the supply of the age cohort that has traditionally provided entrée into the executive ranks (35–44 year olds) is actually declining in the United States and will have dropped by 15 percent between 2000 and 2015 because of the difference in the size of the baby boom generation and the much . . .

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