Case Study: Confidential Major Global Life Sciences Company

[Pages:4]Case Study: Confidential Major Global Life Sciences Company

Business Challenges

A major global Life Sciences company launched a new business strategy. The CEO wanted to know whether the leaders in his business would be capable of driving the delivery of this strategy. He also wanted to make sure he had a strong succession pipeline with people that would be willing and able to continue to drive the strategy in the future. Knowing nobody is perfect, he wanted the process to be development oriented, to inform talent strategies on how to close potential gaps and then executing on development plans to ensure acceleration of readiness for future roles.

The development process has been used to:

Accelerate the senior leaders' onboarding and development while aligning readiness to business requirements

Support the ExCo with tools and insights to play a stronger role in developing their successors

Provide Information (beyond surface level) for making decisions about potential, readiness of the bench, deployment into development assignments, and promotion and hiring for all VP level and above roles

Inform talent review and succession discussions with the CEO, CHRO, and key senior executive leaders, as well as with the global HR leadership team

Our Solution

Created Success Profiles for executive roles

Co-designed a robust, yet flexible and globally scalable program including a virtual development assessment process with a strong focus on feedback and a development mindset

Supported the preparation of the offsite leadership workshop (delivered by the client itself, to reflect ownership)

Delivered the virtual development assessments targeted at key executive populations (including successors to the Executive team)

Facilitated Talent Review meetings to report back to the Executive and other key stakeholders and review their role in ongoing development

Conducted regular and ongoing coaching

The third phase involves re-engagement with the leader's line manager whereby there are a series of 3-way meetings between the leader, the line manager and Korn Ferry Hay Group to share the purpose and the leadership plan and build accountability and support to ensure that the plan is enacted in the work place.

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Outcomes

There is a strong understanding of the talent pipeline. Leaders' development skills have improved. Specific strategy-related behaviours have increased.

Decision making on succession placement and developmental assignments is now an objective process, supported by data and real observations on individuals (i.e., determination of fit for external hires, readiness for internal moves/promotions and alignment on development plans)

Actionable individual development plans are in place to accelerate readiness and support onboarding into new roles

Group analytics and talent trends have helped the organisation identify gaps and plan targeted group development initiatives

Key Learnings

It was important to adapt pre-work for an executive's extremely busy schedule while still enabling them with the learning and preparation required for the case. We also learned that face validity of business leadership simulations for this particular R&D population was of heightened importance. Along the journey we customised case studies to be set specifically in an R&D organisation so that these highly technical, functional leaders could be stretched in a way that still felt relevant for them. Since we implemented just over a year ago, feedback has been very positive. Even leaders who themselves did not appreciate the process given the GM orientation are now sending their teams through the process and finding tremendous value in it.

The ability to drive innovation is a key success factor. Through the results of over 2 years of assessments, combined with external research and a company-provided measure of innovation, we have been able to identify those characteristics that are most predictive of innovation in leaders. This "innovation index" can now be added to reports upon request based on the purpose of the assessment. We are working on other "indexes" that will provide a read of leaders' capabilities in the key organisational challenge areas.

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About Korn Ferry Korn Ferry is the preeminent global people and organizational advisory firm. We help leaders, organizations, and societies succeed by releasing the full power and potential of people. Our nearly 7,000 colleagues deliver services through our Executive Search, Hay Group and Futurestep divisions. Visit for more information.

? Copyright 2016, Korn Ferry

ALL RIGHTS RESERVED. Do not modify or create derivative works from contents. Statement of Confidentiality: This proposal and supporting materials contain trade secrets and proprietary business information of Korn Ferry. This information may be photocopied by CLIENT NAME for use in evaluating the project, but is not to be shared with other organizations, consultants, or vendors without the express written permission of Korn Ferry.

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