Top performing companies invest
in building human assets

In order to guarantee long-term market success, forward-looking companies are effectively identifying and grooming employees to be tomorrow's leaders, according to a report by research and consulting firm Best Practices, LLC. World-class companies maximize human capital by strongly incorporating continuous staff education into performance development initiatives

* One technology company found that each dollar invested in employee training and education had a greater than $30 return on investment. As a result, the company doubled the required employee training from 40 to 80 hours annually.

* A leading manufacturing company mandates that 85 percent of its 1000 employees be enrolled in some type of training course at any one time. The company credits this education for its recent increase in production rate that allowed the company to exceed its competitors by nearly 50 percent.

Based on executive interviews and research from 35 top companies, "Best Practices in Career Path and Definition and Succession Planning" outlines multiple strategies for identifying potential leaders, matching executives with the right position and aligning succession plans with an organization's culture and growth goals. The report also contains:

* Real-life examples of companies' career path planning and succession worksheets

* Corporate succession planning profiles from benchmark partners

* Succession competencies, measurements and process diagrams

"You would not embark upon a long trip without plans to refuel and replenish supplies," says Chris Bogan, president and CEO of Best Practices, LLC. "A company that does not identify strong leadership material may score early victories but will ultimately lack the human resources for long-term success."