Assessing Leadership Development Strategies Adopted By The Organizations For Developing Internal Talent Pool

Abstract

Purpose

Workforce planning allows a company to make the best capacity management judgements associated with business goals [1]. It was found that internal moves that combined promotions and transfers led to a performance that was better than external hires [2].

The idea behind this study is to analyse the benefits of inhouse talent development over external hiring. An organization with future-ready leaders is always in a better position to tackle the leadership transition. Furthermore, the study will examine the strategies adopted by organizations popularly termed as leadership factories. The key steps to implement a comprehensive talent development process will be listed out.

Proposed Design/Methodology/ Approach

The study will follow a qualitative research method.

Primary research will be conducted based on interviews and surveys with employees from various organizations. The organizations will include companies from two key segments-

The ones which have a well-established leadership development programme, and

Those who follow the principle of external hiring.

Further, the secondary analysis of best practices will be performed for the Group organizations.

Practical/Theoretical implications

Managers face a huge task of keeping employees engaged and productive. Replacing an employee is always a resource-intensive task. Most companies spend a lot of resources on hiring and training new talent every year. At the same time company also have to let several employees every year. This research will help companies develop an inhouse talent development programme. This will help them in keeping employees engaged for a long time. It will let them have a pool of future-ready leaders to take over key leadership positions when needed.

Originality/value

This study is original and includes insights that are valuable to organizations that are willing to develop a talent framework to make people within the organization future-ready and become leaders.