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Successes:
Upgraded Succession Planning Process

Task Client
- Create new
  succession plan
  process
- Retain top people
- Identify high-potential
  candidates
Company:Division of Fortune 50 Firm
Industry:Pharmaceutical
Partner:President & Executive Team

Need

Previous succession plans had limited focus on top level positions with little attention paid to developing high potential individuals. Top managers were making subjective decisions about performance and potential based on anecdotal evidence. As a result, the need was identified to broaden involvement in succession planning, and develop objective criteria for assessing people.

Actions

Generated buy-in for change by involved executives in assessing the existing succession planning approach. Gained agreement to new, objective candidate assessment criteria and broadened development planning process. Facilitated meetings with executives to reach consensus on the potential of candidates and to plan developmental opportunities.

Results
  • Achieved target 80% internal candidate placement rate.
  • Development plans and career path put in place for high potential candidates.
  • Greatly increased executives' access to and ownership of succession planning data.
  • Identified improvements in recruiting, hiring, training and internal movement processes.