Challenge: Middle-market public manufacturing company found business mix to be increasingly complex…getting tougher to stay profitable. Top three leaders were within three years of retirement. Because of the complexity of the business they needed an internal candidate for succession.
Solution: Succession planning process that involved psychological assessment, developing leadership competencies, and full-scale talent review of the top 15 people in the organization.
Result: The client received a clear picture of future leadership potential, complete with a leadership development road map including specific assignments the top candidates needed to round out their experience set. First of three leaders has retired, giving a smooth transition to a new leader with little effect on the organization’s ability to execute. The other two leaders are confident they can retire on schedule, as planned.