Growing Your Company's Leaders

by Fulmer, Robert M.

• ISBN13: 9780814407677
• ISBN10: 0814407676
• Format: Hardcover
• Copyright: 2004-01-02
• Publisher: Amacom Books

Summary

Offers the results of a study of five global leaders in succession planning: Dow Chemical, Dell Computer, Eli Lilly, Pan Canadian Petroleum, and Sonoco.

Author Biography

Robert M. Fulmer (Santa Barbara, CA) teaches at Pepperdine University and is the academic director of Duke Corporate Education. His books include Leadership by Design and The Leadership Investment (0-8144-0558-4). Jay A. Conger (Manhattan Beach, CA) is Senior Research Scientist at the Center for Effective Organizations at the University of Southern California and teaches at London Business School. He has written or contributed to numerous books, including Corporate Boards .

Table of Contents

Preface and Acknowledgments	ix
Succession Management: The New Imperative	1	(22)
The Old Ways	4	(1)
The Reinvention	5	(3)
Why the Renewed Interest Today?	8	(3)
The Purpose of Effective Succession Management Systems	11	(1)
Characteristics of Best Practice Approaches	12	(3)
The Key Dimensions of an Effective System	15	(6)
Corporate Strategy	15	(1)
Sponsors and Owners	16	(1)
Talent Identification and Talent Pools	17	(1)
Developmental Linkages	18	(1)
Assessors	19	(1)
Tracking	19	(1)
Metrics	20	(1)
Our Purpose	21	(2)
Who Should ``Own'' Succession Management?	23	(22)
The Most Critical Owner and Champion: The CEO and the Senior Team	26	(5)
Human Resources: The Process Owners	31	(5)
Ownership Below the Executive Level: The Implementers	36	(6)
Conclusion	42	(3)
Defining and Identifying Talent	45	(30)
Competency Models: The Benchmarks for Succession	47	(5)
Sample Competency Models in Best Practice Organizations	52	(6)
Identification Tools	58	(8)
Lilly's ``Talent ID Tool''	60	(2)
Sonoco's Performance/Promotability Matrix	62	(1)
Bank of America	63	(3)
Focusing Efforts: Determining the ``Mission-Critical'' Positions	66	(2)
Determining the Talent Pools	68	(2)
Sample Best Practice Approaches to Talent Pools	70	(2)
Insights from the Research	72	(3)
Linking Succession to Development	75	(32)
Weaving Development into Succession	80	(4)
The Tools They Use	84	(23)
PanCanadian's Leadership Development Framework	86	(2)
Tool #1---Internal Leadership and Executive Education	88	(2)
Tool #2---Action Learning and Special Job Assignments	90	(1)
Tool #3---Mentoring and Coaching	91	(2)
Tool #4---External University Courses	93	(1)
Tool #5---Web-Based Courses	94	(1)
Tool #6---Career Planning and Individual Profiling	95	(5)
Tool #7---Performance Management and 360-Degree Feedback	100	(2)
Conclusion and Summary Insights from the Research	102	(5)
Measuring and Assuring Long-Term Success	107	(26)
What Is Measured?	108	(8)
Dow Chemical	109	(2)
Eli Lilly and Company	111	(2)
Sonoco	113	(1)
Dell Computer	113	(1)
PanCanadian	113	(1)
Bank of America	114	(2)
Lessons for Long-Term Success	116	(6)
Bank of America	117	(1)
Dell Computer	118	(1)
Dow Chemical	119	(1)
Eli Lilly and Company	120	(1)
Sonoco	121	(1)
Other Lessons for Success	122	(8)
Smooth Transitions	122	(5)
The ``Right'' Developmental Assignments	127	(1)
Meaningful Appraisals and Feedback	128	(1)
Appropriate Selection Criteria	128	(1)
A Range of Good Choices	129	(1)
Conclusions About Assessment and Long-Term Success	130	(3)
The Future of Succession Management: Bright Lights, Looming Clouds	133	(26)
Bright Lights on the Horizon: Promising Trends for Succession Management	134	(4)
Greater Integration and Alignment	134	(2)
Technology Moves Succession Planning to the Desktop	136	(2)
Increased Rigor in Assessments	138	(1)
The Looming Clouds in Succession's Future	138	(8)
Finding a Sufficient Supply of Developmental Opportunities	139	(1)
Generational Resistance to Certain Opportunities	140	(2)
Inconsistencies in Selection Criteria and Rewards	142	(1)
Competency Models---A Flawed Foundation for Development?	143	(3)
360-Degree Feedback as an Administrative Requirement: Weakening a Powerful Development Tool?	146	(3)
The Essentials for Successful Succession	149	(10)
Implementing a New System	150	(3)
The Foundations for Genuine Success	153	(6)
Appendix A: Detailed Case Descriptions	159	(84)
Dell Computer Company	160	(14)
Dow Chemical Company	174	(17)
Eli Lilly and Company	191	(14)
PanCanadian Petroleum	205	(16)
Sonoco Products Company	221	(22)
Appendix B: Research Methodology	243	(4)
Index	247	(10)
About the Authors	257