Developing a Senior Leadership Succession Plan for a Global Manufacturer
Clarkston Consulting recently partnered with a client on a senior leadership succession plan. Read a synopsis of the project below or download the full case study.
Download the Senior Leadership Succession Plan Case Study Here
A global leader in design and manufacturing asked Clarkston Consulting to evaluate their strategic business needs and make recommendations for executive succession in conjunction with an enterprise strategy development project.
The company required several aspects for its succession planning efforts that included identifying a successor for the senior executive role who leads the global enterprise, assessing internal talent pools to identify high-potential successors, and ensuring a smooth leadership transition without disrupting business operations once identified. Additionally, there was a need to foster communication and engagement among stakeholders to garner support for the succession plan and ensure an effective transition.
To address these challenges, the company adopted Clarkston’s strategic approach to succession planning. The first step involved an exhaustive analysis of the company’s strategic objectives and priorities that had been developed through Clarkston’s Enterprise Destination Mapping process to analyze leadership traits, qualities, and capabilities essential to leading the business into the future. Clarkston determined the leadership criteria needed to successfully execute the company’s strategic plan and priorities as well as developed five critical senior executive leader success metrics, with clear definitions and criteria for the client’s next top global leader.
Clarkston also partnered with the CEO and HR leader to assess the internal talent to determine if there were any qualified candidates with the required capabilities who are ready now for the role or have the potential to be ready within one year. Clarkston conducted a detailed assessment of top qualified candidates and made a recommendation for the top executive role with an accompanying accelerated development plan, transition plan with the current leader, and detailed timeline including key milestones and communication events.
The strategic implementation of succession planning facilitated the identification and development of a high-potential employee, ensuring readiness for future leadership transitions, and enhancing company performance for a successful successor transition to drive growth. The Board of Directors approved the succession plan, and it was successfully implemented.
