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Corporate Succession Plans Integral to Future Success

Published: Sunday, May 2, 2004 - 22:00

A recent Global Benchmarking Council meeting, "Leadership Development and Succession Planning," has concluded that rigorous succession planning and leadership development programs help companies ensure seamless power transitions and reassure investors and customers.

The findings of the meeting are intended to help organizations benchmark their efforts in leadership development against those of the nation’s leading companies. The conclusions from the meeting, available by clicking here, offer an opportunity to see how companies such as IBM, Dell, American Express and Thomson grow their next generation of leaders. According to the report, leaders successfully build the following initiatives:

  • Employing talent management models and identifying future leaders
  • Growing employees through Six Sigma and business process improvement projects
  • Ensuring diversity throughout the corporation
  • Developing global leaders
  • Measuring leadership, diversity and succession performance

More than 50 companies attended the Global Benchmarking Council meeting convened by Best Practices LLC, a research and consulting firm.

 

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For 40 years Quality Digest has been the go-to source for all things quality. Our newsletter, Quality Digest, shares expert commentary and relevant industry resources to assist our readers in their quest for continuous improvement. Our website includes every column and article from the newsletter since May 2009 as well as back issues of Quality Digest magazine to August 1995. We are committed to promoting a view wherein quality is not a niche, but an integral part of every phase of manufacturing and services.