Talent Development and Succession Planning
A technology company articulated its long-term corporate strategy, but the Vice President of Human Resources and the CEO sensed gaps in the talent pipeline throughout the organization. Everyone recognized the importance of bench strength at all levels, but the company lacked a formal way to look at succession and talent development. Likewise, they sought clarity on what core leadership competencies would help them meet their future goals most effectively. They needed a formal plan to grow their employees and, in turn, grow the company. At the core, they wanted to ensure that, when opportunities arose or roles opened up, internal candidates were groomed with the right skills and leadership competencies in order to excel into more senior positions and not leave to seek career opportunities elsewhere.
Vision Quest Consulting conducted an assessment of the existing talent and identified and developed core leadership competencies for the company. Looking at the current state and the desired future state, the Vision Quest Consulting team articulated where gaps existed and developed a three-year plan to address them. The program was a mix of 360 leadership skill assessments, leadership training, and executive coaching for key individuals on the executive and management teams.
The client company reported that, due to the support of Vision Quest Consulting, they were able to focus their efforts on developing key people in the organization and, as a result, did not lose any of their key talent. Vision Quest Consulting and the client have been key strategic partners for more than ten years.
According to the Vice President of Human Resources “…we have been able to keep people that are smart, ambitious, and very capable of working in just about any environment. We’ve been able to keep them here growing and feeling like there is a path for them…We know that when we have key positions — when people are retiring or moving into other roles — we’ve got people who can backfill, because we haven’t lost them to our competitors or to other opportunities. Vision Quest Consulting has helped us with our bottom line.”