How do the Best Companies fill their talent pipeline and develop leaders?
Now in its seventh year, the Best Companies for Leadership study has a simple, single-minded purpose. We aim to identify which organizations have the best leadership practices, then see what we can learn from them.
Our 2011 study confirmed more strongly than ever that Best Companies for Leadership are better positioned now and in the future. They are nearly 40 percent more likely than peers to create the motivating climates which are proven to drive success. And they actively nurture leadership behaviors and have a ready pool of successors for critical roles.
But the standout theme this year was excellence at innovation. Hay Group research shows that the business world is at a pivot point today. A collision of ‘megatrends’ is giving organizations no choice but to innovate in order to succeed.
Whether it’s minor tweaks to existing processes, or brand-new products and services, Best Companies for Leadership are on top of this situation. It’s because they create a culture of innovation with practices that allow it to flourish:
- 90% design roles to be flexible enough to respond to immediate projects vs 65% of peers
- 94% are prepared to run unprofitable projects to try new things. Only 49% of all other respondents will do this
- 90% of Best Companies for Leadership let employees bypass the chain of command with an excellent idea, a practice that only 63% of peers tolerate
- They know collaboration is important and reward it accordingly. 100% take action when a leader is not collaborating vs 59% of peers
- And they see setbacks as learning opportunities. 95% see difficulties this way, compared to 50% of peers
Click here to learn more about our Best Companies for Leadership research.