Jack Welch, former CEO of General Electric, may have retired 15 years ago, but his influence in corporate America still resonates. Not only is he known as one of the most successful industrial leaders of the 20th century—most notably increasing the value of GE by 4,000 percent—but he is also a great example of how a company can effectively grow powerful leaders from within their own ranks.
Welch, who graduated with a Ph.D. in chemical engineering, joined GE in 1960 as a junior chemical engineer. After a year with the company, Welch began seeking other jobs until a mentor in the company’s executive office recognized Welch’s talents and persuaded him to remain at the company. Just seven years later, Welch was appointed vice president of GE’s plastics division, and the climb up the corporate ladder continued. In 1981, Welch became GE’s youngest chairman and CEO.
As with GE and many other companies—Xerox, Harley-Davidson, Best Buy and McDonald’s— the next CEO of your company could very well be among your current employees. In fact, in a Forbes study of America’s 100 largest companies, 86 percent of CEOs were appointed from within company ranks. Your executive leadership most likely will be, too. Here are three ways to grow strong leadership from within your company.
Via The Learning Factor