Building a strong pipeline of ExCo talent at a multinational insurance company
Our client is an FTSE 100 multinational insurance company. Recently, a new CEO joined to lead a significant change agenda across the organization. The new focus became driving customer centricity, clarity, simplicity, and accountability. The change agenda aimed to streamline operations and the organizational structure to enable continued growth and sustainability into the future.
Our client wanted to define the culture needed to drive this strategy and create leaders who will help realize this cultural shift.
- We designed an ExCo Profile of Success, benchmarking leadership excellence and defining a shared leadership and talent development framework. This profile specified their ideal leadership capabilities, attributes, and experience and served as a framework for assessing and recognizing high-potentials.
- Building on the profile and YSC’s JDI Model of Potential, the stakeholders selected internal candidates for business-critical roles and assessed their readiness to serve as executive leadership successors.
- We drew on our extensive external leadership benchmarks to provide stretching targets and set clear expectations for prospective succession candidates.
- The assessments provided insight into individual and broader-spectrum leadership development needs to prepare for succession.
- Each candidate received personalized reports, development plans, and coaching. The process focused on each participant’s strengths, growth areas, and goals, motivating ownership and engagement.
- Executive leadership coaching advanced the participants’ skills and competencies needed to fulfil their roles effectively.
- Line managers and functional heads engaged in facilitated conversations with participants and coaches, fostering ongoing alignment, coordination, and support.
- We helped our client to conceptualize their leadership strategy and define the scope of the leaders and type of culture they needed to meet business goals.
- High-potential leaders for future executive succession were identified through the process and we supported the behavioral shifts necessary for these candidates to lead and model a cultural shift.
- We presented the nominations committee with individual and aggregate analytics for all potential ExCo successors, offering recommendations for a strong leadership succession plan and insights to inform talent development.
- This project gave our client a view of their talent pipeline and potential across the organization. The depth of data highlighted areas requiring internal investment and gaps where external talent recruitment may be needed.
- We continue to support the client with talent assessment and leadership development.