Executive Assessment Program Enhances Leadership Succession Planning for a Major Australian Construction Materials Company
The Brief
In 2023, a major Australian construction materials and industrial mineral manufacturing company sought to engage in an Executive Succession and Talent Assessment Program.
The objective was to define the executive roles, responsibilities, and capabilities required to ensure the company’s future success and to assess the current bench strength against these capabilities.
Increase in Leadership Effectiveness
Organisations using psychometric assessments like Hogan for leadership development report a 25% improvement in leadership effectiveness and decision-making.
Reference: Hogan Assessments, "The Business Impact of Personality" (2020)
Increase in Employee Engagement
Companies that implement capability assessment programs experience a 30% increase in employee engagement, as assessments help align employees with roles that match their strengths and potential.
Reference: CIPD, "Talent Management: Understanding the Dimensions" (2018)
Reduction in Turnover
Organisations using psychometric assessments as part of their talent management strategy see a 40% reduction in turnover among high-potential employees.
Reference: SHRM, "Using Assessments for Talent Management" (2019)
Improvement in Team Performance
Teams that undergo capability assessments show a 20% improvement in overall team performance due to better role alignment and understanding of individual strengths and development areas.
Reference: Gartner, "Harnessing the Power of Assessments for Team Success" (2021)
The Process
Future Leadership designed a customised methodology for the client that included:
- Design of Success Profiles: Creating 6 Success Profiles for key roles through interviews with the CEO and a desktop review.
- Selection of Assessment Tools: Co-designing and selecting behavioural, 360°, and career path analysis tools and exercises aligned with Future Leadership’s Global Capability Framework. The tools included:
- Career Path Analysis Exercise
- Saville Wave Professional Styles Assessment
- Saville Swift Executive Aptitude Assessment
- Hogan 360° Assessment
- Development Planning: Conducting individual debrief and development planning sessions, which included a tailored development report for each executive.
- Executive Presentation: Presenting the strengths and development areas of the executives to the CEO to support succession planning and the ongoing development of the company’s executive talent.
The program was exceptionally well-received and tailored to meet the bespoke requirements of the client.
Future Leadership's Average Participant Indices Across Capability Assessment Clients
43% Increase in Self Awareness
Individuals’ awareness of motives, values, strengths and development needs
27% Increase in Motivation
Individuals’ motivation to apply learning, insight and further develop
29% Increase in Confidence
Individuals’ confidence in their abilities and impact as a leader
32% Increase in Role Clarity
Individuals’ clarity around success factors associated with their role
The Outcome
The work was incredibly well-received and provided powerful input to ensure that the Finance Academy delivered modules that were relevant, cutting-edge, future-focused, and aligned with the business strategy for the CFO Function.
The framework supported the organisation in teaching finance skills for the future and aligning them directly with the CFO Function’s strategic objectives.
