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Inside CEO Succession: The Essential Guide to Leadership Transition by Paul Winum, Thomas J. Saporito

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Chapter 10

Source External Talent and Manage Search Firms

“Globalization has changed us into a company that searches the world, not just to sell or to source, but to find intellectual capital—the world's best talents and greatest ideas.”

—Jack Welch, former chairman and CEO, General Electric1

There are clear advantages for companies that grow their own talent and cultivate each succeeding generation of leaders. They preserve their culture and maintain their strategic direction by perpetually and purposefully testing, developing, and advancing high potential employees within the organization. Successors with a history with their company also experience a much higher success rate and are significantly less expensive to hire when compared to externals. ...

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