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Large insurance company solves the succession pipeline puzzle

Large insurance company solves the succession pipeline puzzle

Context

A leading general insurance company engaged BT to build its leadership pipeline for succession planning and facilitate development of leaders, in sync with its business strategy.

The client wanted to assess the leadership potential of its senior leaders (CEO-1 and CEO-2), to help them identify their strengths and development needs and formulate their Individual Development Plans (‘IDPs’).

The IDPs would lay the foundation for their learning journeys, going forward.

Impact

A complete ‘Leadership Landscape’ for the organisation was presented to the CEO and the CHRO in order to help them have a better understanding of the existing leadership talent pool.

Through this intervention, the client has identified a clear pool of senior leaders they will invest in for development.

The organisational leadership has taken ownership of the talent analytics presented by BT and used that to identify key tenets of the people strategy in the future growth journey.

Approach

Using its proprietary 3P Assessment Fulcrum, bringing together Performance, Preference and Potential, BT designed Development Centres for the two levels of leaders – individual format for CEO-1 and Group format for CEO-2.

Manager inputs were also sought on all participants through CEO interactions for all his direct reports (CEO-1) and through an online rating form for the CEO-2 group.

Leaders were asked to share a first draft of their IDPs post the DC and follow up conversations were scheduled with each leader, to help them fine tune and finalise their IDP.