Companies are neglected by low performers top ten hr

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Unformatted text preview: ess environment, where boundaries between different players are more porous, competitors sometimes serve as collaborators, and the range of stakeholders making demands on the company has greatly expanded. ◊ Encouraging leadership training by, for instance, establishing or augmenting corporate “universities” Yet most companies report a shortage of future leaders with the requisite capabilities. This shortage, which has existed for certain highly skilled technical positions, is now emerging at all levels of organizations. It will only get more extreme in most Western countries and Japan because of well-documented demographic shis. Executives also worry that their leadership-development programs have not kept pace with the new complexities. Many such programs are disconnected from workforceplanning activities, divorced from explicit career paths, or lacking transparent criteria for employee selection. Companies will thus be pressed to advance their leadership development along several fronts: C P A ◊ Devising better approaches to career development conversations and plans, and to building the capabilities among high-potential employees to handle complexity ◊ Planning and organizing talent flows internally and externally on a multinational—even global— scale Leadership Talent Is in Short Supply Our survey reveals a major gap for high-potential employees who will serve as the next generation of leaders. In the leadership pipeline, we distinguish among four groups: emerging potentials—young university graduates who are likely to flourish; high potentials—promising employees who can be found at any level; and senior manager and CEO successors—who have already advanced and have the potential for senior executive leadership. Our survey respondents are most worried about the talent gap for senior manager successors, with 56 percent citing a critical talent gap for this group. Fiy percent of respondents are concerned about the gaps for CEO successors and high potentials, and 40 percent for emerging potentials. A clear and well-structured leadership-talent strategy is critical. Companies with such a strategy fill roughly onethird more positions internally than do companies without a clear strategy, our survey finds. High-performing companies, for instance, report filling 60 percent of top executive positions with internal candidates, while low performers fill just 13 percent of those slots internally. The leadership talent shortage is most acute in IT and, to a lesser extent, in support functions and in marketing and sales. The regions with the biggest gap are the Commonwealth of Independent States (the former Soviet Union), India, and South America. (See the sidebar “Stimulating Economies Through Talent Mobility.”) In Search of Homegrown Talent High-performing MTR Corporation of Hong Kong, which operates rail systems around the world, companies fill most maintains a pipeline with three levels of top executive seniority to meet the need for future le...
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