Many of us have come to believe that companies that promote early are where the action is. That’s natural, because as young workers we’re eager to get ahead. But from the corporate perspective, late promotion is a sign of health. In companies with low turnover, promotion into the first-level management position comes only after as much as ten years with the company. (This has long been true of some of the strongest organizations within IBM, for example.) The people at the lowest level have on the average at least five years’ experience. The hierarchy is low and flat.
