A large technology corporation recognized that they had a significant number of senior leaders and technical professionals who would be retiring in the next 5-7 years. Because they did not have an established process for developing new leaders, the senior executive team realized that they had serious gaps in their leadership pipeline that would limit their future competitiveness.
In response, they assembled a team of senior executives from each of the main business units. We worked with that team to create a process for identifying key talent and determining who was responsible for those individuals’ development. We also worked with them to identify key development experiences necessary for candidates for each position. In developing these succession plans, we relied heavily on our Top Companies for Leaders research. We also used a custom leadership 360 assessment and the MENTOR® Leadership Battery to assess candidates.
Now, this company has redefined the way they think about succession planning. They actively use our assessment tools to identify key talent and the senior leadership team updates the pool of candidates for key positions on an on-going basis. While not closed, the gap in the pipeline is narrowing, new leaders are getting critical development experiences, and overall confidence in sustained long-term performance is growing.