Target Creates Talent Pool for Others
By George Anderson
Target has become a target, of sorts. Other companies looking to copy Target’s success have gone head hunting for executives from the Minneapolis-based retailer.
Mike Peterson, a former vice president at Target’s department store division, told the Star Tribune, “Most companies today would kill to get a Target executive at any level. For the most part, any time a job opens anywhere, the first thing headhunters ask is, ‘Who’s available at Target?’ “
Today, reports the paper, Target alumni hold senior management positions at numerous direct and indirect competitors of the chain, including Wal-Mart, Best Buy, Staples and Toys R Us.
The more successful the company has become, the more valued its management team has become on the job market.
According to Mr. Peterson, “If you work in Target’s headquarters, you’re called all the time. The number of people who leave is infinitesimal [compared with] the number of people who could.”
Target has earned a reputation for identifying and developing talent within its ranks.
Another Target alumni, Allen Ditrich, said, “It’s a company that’s steeped in training and mentorship, and it gives its managers at every level a lot of decision-making authority. Not many retail companies do that anymore.”
Moderator’s Comment: Are Target executives more sought after for jobs than those at other companies? What makes it seemingly so successful at developing
The Star Tribune reports identified four senior Target executives that are thought to be potential CEO candidates at other retailers. They are company
president Greg Steinhafel; CFO Douglas Scovanner; Michael Francis, executive vice president in charge of marketing; and Bart Butzer, executive vice president of stores.
George Anderson – Moderator