If a company has invested years nurturing and grooming talent within its own ranks, why waste it?
More and more organisations have created good talent pools and see the benefits of promoting from within people whose careers they have helped develop – rather than recruiting from outside.
However, there is another side to the coin.
For that enlightened approach appears to fall down when senior executives reach a point when they can no longer advance and face the prospect of a dead-end or a departure.
We are seeing more and more senior executives who feel they aren’t progressing – whether in a lateral move to broaden their experience, or up a level to a more senior position. They risk getting stuck in a rut and becoming resentful.
The corporate message appears to be: we’ve valued your contribution so far, but we don’t see you progressing further. In too many firms the fall-out from this delicate situation is not handled well. That’s a shame.
Companies must have honest conversations with their senior staff about their future prospects and be prepared to help executives manage their careers.
Individuals too must take more control of their own careers. They must plan much earlier where they see themselves going and avoid becoming marooned. They have valuable skills which, if not fully exploited by their existing company, may be welcomed elsewhere in a different role.
Talent needs to be handled with care.