2006 "Best Companies for Leaders" Study Ranks GE #1, According to Hay Group and Chief Executive Magazine.Best Practices for Developing Future Leaders Future Leaders is a UK schools-led charitable organisation that aims to widen the pool of talented leaders especially for urban challenging secondary schools. It was founded in March 2006 by Nat Wei, a former founder of Teach First. Identified PHILADELPHIA Philadelphia, ancient cities Philadelphia, name of several ancient cities. One was in Lydia, W Asia Minor (now W Turkey). At the foot of Mt. Tmolus and near the location of modern Alaşehir, it was founded in the 2d cent. B.C. -- General Electric ranks number one in the 2006 Best Companies for Leaders study, conducted by Hay Group  This article or section is written like an .Please help [ rewrite this article] from a neutral point of view. Mark blatant advertising for , using . in partnership with Chief Executive magazine. The study highlights the best practices for identifying and fostering leadership talent. "An estimated 75 million workers will retire in the U.S. in the next 5 to 10 years1, including 50% of CEOs from major corporations," said Mary Mary, the mother of Jesus Mary, in the Bible, mother of Jesus. Christian tradition reckons her the principal saint, naming her variously the Blessed Virgin Mary, Our Lady, and Mother of God (Gr., theotokos). Her name is the Hebrew Miriam. Fontaine Fontaine is a French word meaning fountain or natural spring. Fountain (Duchamp) is the title of a famous sculpture by Marcel Duchamp. Fontaine or Fontaines is the name or part of the name of several communes in France: The concern is not isolated to the U.S. and Western Europe Western Europe The countries of western Europe, especially those that are allied with the United States and Canada in the North Atlantic Treaty Organization (established 1949 and usually known as NATO). where aging Baby Boomers See generation X. are readying to retire. In emerging and developing countries - particularly in China, Eastern Europe Eastern Europe The countries of eastern Europe, especially those that were allied with the USSR in the Warsaw Pact, which was established in 1955 and dissolved in 1991. , Brazil, and elsewhere - the need is to bring in and develop enough leaders to maintain their pace of growth. Focusing on identifying and managing the talents of high potential candidates will rise to the top of the agenda, predicted Fontaine. "Organizations that are able to identify, develop, and promote their leaders from within will find themselves better positioned than their peers to win the war for leaders - and to safeguard their organizational futures. The top companies are already focused on this. Those companies which are not prepared will be forced to rely on external recruitment - which is usually much more expensive and less dependable than internal promotion." Who are the best companies?
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The 2006 Top 20 Best Companies for Leaders <
1) General Electric <
11) Dell
2) Procter & Gamble <
12) Microsoft
3) PepsiCo <
13) Novartis
4) Citigroup <
14) Verizon Communications
5) Johnson & Johnson <
15) Nestle
6) HSBC Holdings <
16) Lockheed Martin
7) BASF <
17) GlaxoSmithKline
8) Home Depot <
18) Amgen
9) IBM <
19) Hewlett-Packard
10) Coca-Cola <
20) BAE Systems
These companies are a worthy benchmark group for our analysis: Their average five-year total shareholder return beat the S&P 500 over the same period by 3.53%. This period covers both the bleak The bleak is a small pelagic fish of the Cyprinid family. Description The body of the bleak is elongated and flat. The head is pointed and the relatively small mouth is turned upwards. The anal fin is long and has 18 to 23 fin rays. The lateral line is complete. years following the downturn Downturn The transition point between a rising, expanding economy to a falling, contracting one. downturn A decline in security prices or economic activity following a period of rising or stable prices or activity. and 9/11 as well as the recent surge in the S&P. And what do they do? The study identified the practices followed by the Best Companies for Leaders. The top three of the six best practices in 2005 were also the top three for 2006 and account for 68% of the variance The discrepancy between what a party to a lawsuit alleges will be proved in pleadings and what the party actually proves at trial. In Zoning law, an official permit to use property in a manner that departs from the way in which other property in the same locality in the number and quality of leaders as reported by each organization. [TABLE OMITTED] "The Top 20 companies are far more likely to use the top practices than their peers," said Fontaine. "And, while many of the companies we looked at employ all of the practices, the top ones use them by a much wider margin." In addition to identifying the practices that companies should focus on to develop their next generation of leaders, the study also flagged activities that do not add value - at least not if your goal is to identify and develop leaders. Practices that waste resources include: * Outdoor activity-based programs * Paper-based self-study leadership modules * Job shadowing for senior managers * Executive MBAs and web-based self study modules became worst practices when implemented too late in the executive's career. "These practices may achieve other objectives, such as personal rewards or short-term Short-term Any investments with a maturity of one year or less. short-term 1. Of or relating to a gain or loss on the value of an asset that has been held less than a specified period of time. team building," continued Fontaine. "But they don't help companies develop more, better leaders." The shortage of talent and leaders will inevitably cause ripple effects ripple effect Epidemiology See Signal event. elsewhere in business, particularly in placing inevitable further upward pressure on salaries and work/life balance issues. It will force organizations to pay a premium to hire talent from the outside, which is financially costly, takes time, and often fails. Fontaine provides this analogy analogy, in biology, the similarities in function, but differences in evolutionary origin, of body structures in different organisms. For example, the wing of a bird is analogous to the wing of an insect, since both are used for flight. : "Imagine a game of musical chairs. Those companies that are proactively dealing with the crisis now will be seated in the chairs [with leaders intact]. The ones that are too late will be left standing - watching. Where will you be when the music stops?" About the Study For the Best Companies for Leaders study, Hay Group surveyed 564 companies with at least $8 billion in revenue from around the world. Data were collected from three sources: surveys of leaders within the companies, surveys of leaders from peer companies, and interviews with relevant academics and search firm executives. Hay Group is well positioned to understand leadership traits with over 60 years of experience in the field, along with a database comprised of over 4.8 million assessments of 471,544 employees at 4,279 organizations. Over 38,000 of these individuals are at the executive level. "Hay Group research shows it takes about three years to identify a high potential, and another 10 to prepare them for the executive suite," observed Fontaine. "The costs and risks of recruiting from the outside can be even higher. Yet how many major companies have a 13-year horizon in place for their talent development programs?" More information on the Best Companies for Leaders can be found at www.haygroup.com. 1 US Census Bureau Noun 1. Census Bureau - the bureau of the Commerce Department responsible for taking the census; provides demographic information and analyses about the population of the United States Bureau of the Census data. About Hay Group Hay Group is a global management consulting Noun 1. management consulting - a service industry that provides advice to those in charge of running a business service industry - an industry that provides services rather than tangible objects firm that works with leaders to transform strategy into reality. We develop talent, organize people to be more effective and motivate them to perform at their best. Our focus is on making change happen and helping people and organizations realize their potential. We have 2000 employees working in 88 offices in 47 countries. For more information please contact your local office through www.haygroup.com. |
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