Proven Practices for Leadership Development & Succession Planning

CHAPEL HILL, N.C., Nov. 21 /PRNewswire/ -- Although most companies
recognize the importance of succession planning in attracting and
retaining excellent employees, few companies are able to successfully
establish a solid process for doing so. The best companies employ
innovative strategies and tactics to ensure a robust workforce. For
example, a top company focuses on retention as the number one goal of
its succession planning process: to retain its talent, the company
seeks to spend most of its energy in developing high potential
employees. For those employees who are not identified as high
potentials, the company's goal is to develop plans that will improve
their future outlook or move them out of the company, according to
research by benchmarking firm Best Practices, LLC.

To identify and capture proven practices that drive retention, Best
Practices, LLC compiled learnings from its study of the world's
leading companies in a report titled "Best Practices in Career Path
Definition and Succession Planning" - available online with a
complimentary summary at http://www3.best-in-class.com/rr632.htm. For
example, the following sample findings emerged from the study:

- When a leading company discovered that workers expected it to dictate

their career paths, the company created educational services to teach

employees about their career development responsibilities. "Up is Not

the Only Way," is a course offered by the company that discusses the

various components of a satisfying career, as well as the benefits of

lateral career moves.

- One steel company's policy mandates that about 85 percent of its

employees are enrolled in some type of training course at any one time.

This continuous learning and improvement expectation also underpins the

company's strategy to be the low cost provider and the most productive

steel producer in the industry. The company produced steel with a

record 1.4 hours of labor per ton versus 2.4 hours for other mini-mills

and 4.9 hours for integrated producers.

- Support for GlaxoSmithKline's succession planning process has built

steadily through increasing adoption and enthusiasm in different

divisions throughout the organization. Proponents of the process have

developed support through positioning the process as part of the

corporate culture that values development of top talent. By positioning

the components of succession planning - mentoring, coaching, and

experience-building assignments - as methods for retaining top people,

the organization has built strong support for the process.

Download a complimentary summary at
http://www3.best-in-class.com/rr632.htm and save 10% on this or other
benchmarking reports through December 31, 2005. Simply enter promotion
code 05Q4-10 during checkout to receive your discount or contact James
Toomer at (919) 767-9178 or jtoomer@best-in-class.com.

ABOUT BEST PRACTICES, LLC

Specializing in leading-edge benchmarking research, Best Practices,
LLC probes critical issues that drive organizational impact, influence
and efficiency. From facilitating peer-to-peer networking and
conducting customized benchmarking research to providing on-demand
best practices, Best Practices, LLC offers solutions for all your
benchmarking needs. Read more below about our complete suite of
service offerings. Visit our website at http://www3.best-in-class.com.
SOURCE Best Practices, LLC

-0- 11/21/2005

/CONTACT: Anna Buhr of Best Practices, LLC, +1-919-767-9175, or
abuhr@best-in-class.com/

/Web site: http://www3.best-in-class.com

http://www3.best-in-class.com/rr632.htm /