THE CHALLENGE
Fortune Brands is a $7 billion company which owns key brands, such as Master Lock, Moen faucets, Titleist, Cobra Golf and Jim Beam. Behind their strong brands and successful strategy are 32,000 people with the passion to win.
In 2003, Fortune kicked off a strategic initiative to double the size of a $400 million division, Therma Tru Doors. They knew this change would require more leaders in the division and a well-defined leadership development strategy to take their current talent to the next level.
THE SOLUTION
Fortune called on TalentSmart® to create a leadership development process which achieved the following:
1. Accurate measurement and skill building in the 11 key competencies of the organization.
2. A strong focus on goal-setting and personal accountability for change.
3. Metrics to measure the program's value and increase leaders' personal accountability.
THE PROCESS
After review of the organization's competency model, TalentSmart® worked closely with their Organization Development leaders to turn competency statements into sound survey questions. The 360º survey was automated via a customized Internet-based platform and customized e-learning activities were created to bring the competencies to life for participants receiving their feedback online.
After review and support from the IS department and senior executive team, leadership development workshops began in targeted regions and migrated across the division. Participants received their 360º feedback and created action plans for the coming year based on their biggest skill gaps.
THE RESULTS
The program's success was measured with more than the positive reactions it generated. Measurements were gathered to see if leaders who went through the program were "impacted." If a leader was impacted, he or she received a promotion or moved up a level in the succession-planning matrix. The results show:
- 81% of leaders who utilized the e-learning connected to their 360º survey results were impacted.
- 100% of leaders who used the e-learning and opted for the optional face-to-face executive coaching were impacted.
- Only 28% of leaders who attended the training workshop but declined to participate in the e-learning and coaching were impacted.
This initiative was presented as a best practice in 360º surveys at The Conference Board "Learning From Legends" conference in New York.
