Wednesday, October 7, 2009

Grow Your Own Leaders

Dr Emma Parry from the Cranfield University School of Management published a research paper that found - company's who invest into their own staff to create leaders and unleash their employees potential do better.

Here are a few interesting points of view of the managers interviewed from the published paper:

  • it is better to grow your own employees than hire in,
  • developing your own staff is a cheaper option than hiring in,
  • staff retention and motivation increase when current employees are nurtured,
  • it is a cheaper option to nurture your own employees.

(Source: Nurturing Talent, A Research Project by Dr Emma Parry, October 2008).

Staff development is one of the key areas for businesses to become strong, maintain their position and to move on and grow.

Another finding was that internal candidates may not always be the best choice though.

My personal view is -

  • When a middle management sized position becomes open - it is best to promote from within. Keep the knowledge and experience and move it up.
  • When a specialised or senior management position opens up - it is better to recruit from external sources.

External persons bring fresh perspective, new energy and different motivations.

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