According to credible research, the top 10% of organizations fill, on average, 65% of their positions internally. The bottom 10% manage to fill just 35% this way. The reasons are several. First, top performers need to see a clear career path inside the organization. If they don't, they will pursue their ambitions and develop their talents elsewhere. Second, organizations that spend the time identifying high potential employees - aligning them in directions that best leverage their talent - and grooming them through the use of mentors, coaching, stretch assignments, training and education will breed a more loyal and more competent workforce while avoiding the costs of turnover, recruitment and mistakes in hiring.
In the learning tracks within the Succession Planning Talent Topic, we explore the practice of ongoing succession planning, innovations around identifying and investing in high potentials and the question of whether and when it is better to bring in "new blood" versus promoting and re-deploying from within.