There is an expression used in corporate governance called “eating their young.” It defines the practice of hiring high-functioning candidates from the best schools into entry-level positions, working them hard for several years and then firing them when they become ready to move into managerial roles, offering promotions to weaker candidates instead.
Managers do this to have access to a strong pool of talented people to do their work, while reducing competition for their own jobs by promoting less capable employees.
This practice weakens your organization by reducing the quality of leadership and overall performance as the talented persons at the bottom are either let go or leave due to the frustration of being passed over for promotion. Employing consultants to fill the talent gap only exacerbates the problem.
Is this happening in your organization?
These practices are easily corrected.
Let’s talk
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Hmmm...How come there is no disagree as an option in the Reaction? (:-
ReplyDeleteI think it is hard to stereotype the issue as a lot of it is based on the person who is on the drivers seat. I have seen cases where what u mentioned happens whether the victim is fresh out of school or not. On the other hand a lot of organizations do hire folks fresh out of school because they want to develop their bench and also importantly they come at a very low price when compared to some one who has been around for years in which case the victim will be the more experienced when the so called YOUNG is ready to move up the ladder. One thing the business schools do not teach or fail to teach is on the subject of "How to navigate through turbulent politics in the corporate world". If some one is smart and shrewd, have a mentor who can help you tirelessly navigate through the politics then regardless of being from the best school or not and regardless of YOUNG or NOT SO YOUNG then you probably have a good chance of taking a shot at the corner office.
Thank you for your contribution. Good thoughts.
ReplyDelete(PS: I wish to keep this blog upbeat and positive. Understand your point. Added an "Other" reaction choice if this works for everyone.)
My experience is that large organizations struggle to objectively measure performance at mid career levels at best or simply don't have the career development framework at all and therefore all end up relying more on subjective and biased selection decisions leading to mixed outcomes. It is also easier to fire large numbers of lower paid employees at a distance than the few high paid executives who are perceived to have more value in the short term.
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