I just finished reading this book for the first time. I heard about the Peter Principle for years and usually just chuckled to myself about it. Now that I have read the book, that chuckle has turned to a full on guffaw (Mostly because I see it at work in real life and I'm slightly twisted that way).
The Peter Principle is the principle that "In a Hierarchy Every Employee Tends to Rise to His Level of Incompetence." While formulated by Dr. Laurence J. Peter and Raymond Hull in their 1968 book The Peter Principle, a humorous treatise which also introduced the "salutary science of Hierarchiology", "inadvertently founded" by Peter, the principle has real validity. It holds that in a hierarchy, members are promoted so long as they work competently. Sooner or later they are promoted to a position at which they are no longer competent (their "level of incompetence"), and there they remain, being unable to earn further promotions. Peter's Corollary states that "in time, every post tends to be occupied by an employee who is incompetent to carry out his duties" and adds that "work is accomplished by those employees who have not yet reached their level of incompetence".
Once I stopped laughing, I started to look in concentric circles around my own desk and asked myself if I am at Final Placement. Nope, still getting work done....LOL
Question: What does your organization do to prevent careers from "Petering out"?