In this first decade of the new millennium, virtually every executive faces the same daunting dilemma: The demand for leadership talent far outstrips the supply.
In fact, the dearth of people qualified for important leadership positions has become one of the foremost challenges facing managers today. In a study by McKinsey & Company, three-quarters of the executives in the 77 companies studied said their company either didn't have enough leadership talent at times or was "chronically short of talent."
Faced with this challenge, your company might find itself staring at three options:
Helps your organization meet both long-term and emergency leadership needs at all levels. It also ensures continuity of management. Growing your own leaders sends a positive message throughout your workforce. Promoting people is good for morale—and essential to a positive company culture.
In general, your organization will have a clearer sense of an internal candidate's strengths and o weaknesses as well as access to more and better data on that person's performance than you would with outside candidates. Therefore, you'll be able to make more informed and accurate selection decisions.
DDI can provide you with the following strategic support in your quest to grow your own leaders:
Succession Management System Design provides hands-on guidance in establishing the processes for efficiently identifying, assessing, and accelerating the readiness of high-potential talent to move into senior leadership roles. Succession Management System Design is proven to help organizations:
Succession Management System Design includes:
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