Indian mining conglomerate, Vedanta, is all set to launch its new succession planning programme in May, which will require its leaders — CEOs and other senior managers — to groom a couple of employees working under them to step into their shoes.
The programme called the ‘leadership development pyramid’, will become an integral component of the key performance indices (KPIs) of all employees.
With the Company poised for tremendous growth in the coming years, and prepared to put in about eight to ten billion dollars as investment, it will definitely require able leaders in key positions. And what better way than to develop and groom them from within the organisation itself?
The programme will entrust the leaders of Vedanta with the highly responsible task of not just identifying future leaders, but constantly guiding and mentoring them to become good leaders. This programme also provides for required coaching, training and education for employees who have the potential to take on leadership roles in the future.
Earlier this year, industrialist Anil Agarwal, founder and chairman of Vedanta, had stated that the business Group was too big to follow a family succession plan. Agarwal was of the opinion that large companies should not follow the family ownership model. He had revealed that his children were following their own individual passions and were doing rather well for themselves. He also clearly appeared to trust his able CEOs with the smooth running of the Group.