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Client Testimonial
"Corporate Performance Strategies and RARE Hospitality have shared a long-term business relationship because they make a practical difference for our
people and our shareholders. Corporate Performance Strategies has been
integrally involved in every phase of our talent management process, which is the
lifeblood of our ability to successfully grow our company."
Tom Gathers, Executive Vice President of Human Resources for Atlanta-based
RARE Hospitality International, Inc.
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Succession Planning
Does your board of directors have a mandate for top leadership succession that
must be met?
Do you have a leadership pipeline established that enables you to effectively
meet your business requirements?
Are leadership competencies tied to the strategic drivers of the organization?
Are you overseeing and managing leadership development for the next
generation of leaders?
In today's corporate environment, a strategy for sustained management of the
organization is an essential tool for meeting fiduciary responsibilities. Boards
increasingly expect the CEO to implement an effective talent management
process that takes into account future retirements, resignations, and unexpected
loss of leadership.
Corporate Performance Strategies implements customized succession plans
using a dynamic four-step process:
- Assessment of strategic leadership needs: We begin with an assessment
of your organization's leadership requirements - both as they exist today and as
they are anticipated for the future. By gauging the velocity of change in your
organization and your industry, we create a dynamic succession plan that
leverages your growth opportunities.
- Assessment and benchmarking of current leadership competencies: In
partnership with the leadership team, we administer executive assessments on
key leaders in the organization. We benchmark internal management
assessments against external assessments in order to determine future
leadership needs. Then, Corporate Performance Strategies trains and utilizes
internal managers to administer the assessment process while we maintain
oversight to ensure objectivity and adherence to standards. Finally, we
summarize the organization's bench strength and provide organization, functional, and individual assessment results.
- Engineering and execution of the plan: In this stage, Corporate
Performance Strategies works with leaders to create leadership development
action plans based on the results of Phase 2. Action plans utilize a variety of proven methods, relying heavily on managed assignments and executive effectiveness coaching. At the
end of the day, the ratio of internal to external hires for key positions will validate
the succession planning system.
- Continuation of dynamic, on-going updates: The most effective
succession plans do not rely on a single snapshot of talent at a specific point in
time. Corporate Performance Strategies advocates for dynamic, on-going
executive assessments and evaluations throughout the lifespan of your
organization. This ensures progress and accountability.
To learn more about our approach to Succession Planning, contact
us.
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