Developing and promoting internal talent who are already performing successfully within a company’s unique culture is preferable to hit-or-miss recruiting of senior executives from the outside. For one thing, success in senior positions depends on whether a new leader is accepted by his or her peers; so many external candidates fail because the culture rejects them. For another, promotions send a signal that an organization values its current cadre of managers. Yet, too often, companies overlook the talent within their ranks and seek a savior from outside.
Source: Mercer Management Journal
Subjects: Human Resources, Organizational Behavior