A recent article in the April 13, 2009 Fortune Magazine reinforces the critical importance and the many significant advantages of nurturing growth, development and success by building from within. The Fortune Magazine Top Performers Series features the world’s most admired companies. This particular article, entitled P&G’s Leadership Machine, features the highly successful and proven formula P&G uses to select, develop, nurture and retain top talent around the world.
As I was reading the article, I was struck by the fact that the same highly successful concept and formula can and should be used by all people around the world who desire sustained and significant personal and professional growth and success (however each person defines success). Using this formula, P&G leadership has, since 2000, “increased sales by 110%, to $84 billion, and nearly tripled profits, to $12 billion.”
The rigorous leadership program is called Build From Within. What a wonderful theme, concept and strategy for significant and sustained personal and professional growth and success throughout each of our lives! Adopting and adapting a personal Build From Withinstrategy for your personal and professional growth will result in many advantages and strengths, just as it does for P&G. Just a few of those advantages and strengths include:
- Reliability… Actively and persistently learn from others but look internally for ultimate responsibility and development of your success. By building from within, you can and will be much more reliable. If it’s to be, it’s up to me!
- Loyalty… Your inner circle, your colleagues, friends and customers will be much more loyal because they know of your internal strength and that you are reliable. People appreciate and are loyal to people who take full accountability for their promises and their actions. P&G managers and executives are extremely loyal. They know that over 95% of all promotions go to people who are already within the organization.
- Success rate is much higher… P&G employees who are promoted internally nearly always thrive. Other companies, who routinely use headhunters, have as high as a 50% failure rate! P&G’s system is obviously much more successful. Build from within and look internally for your current and future success.
- Bench strength… Over time, building from within results in far greater personal, professional and organizational bench strength and success.
- Advancement… The P&G system includes monthly and annual discussions regarding personal business goals, ideal next job within the company and what the executive is doing to train and develop others. The focus is on personal and organizational performance and advancement… from within.
- Teaching, training and developing others… All P&G senior executives teach at the training center. If you want to learn more and sharpen your skills… teach! The teacher almost always learns and retains more than the student. “A willingness to train others ultimately determines who advances: If your direct reports aren’t ready, neither are you.” The same is true for each and every person reading this article. If your team or teams are not ready, neither are you!
- Attract and retain the best talent… “A manager who isn’t good at developing others doesn’t attract the best talent [to be on his team]” according to Moheet Nagrath, head of human resources at P&G. The same is true for you and me! The best people are attracted to where they can best develop their talents, abilities and potential.
Many other excellent companies have similar leadership development programs and systems. The point is… you and every other person can learn much regarding personal and professional development and success from these excellent companies, even though you may not work for one of them. Read the article… and, become a student of how highly successful companies develop, nurture and retain top talent. Then, apply what you have learned to your own life.
Build From Within. Excellent advice that will stand the test of time!