In 2021, while investigating the CEO succession plan, Parkland Corporation’s Board of Directors discovered large cracks in how succession-related decisions were being made. At its core, the issue was that the HR team lacked the insights needed to accurately identify succession candidates and respond to the Board’s inquiries about managing transitions within the executive team.
How did Parkland create its succession planning framework? What were two key characteristics that successors should have as the foundation, and how did Parkland apply them consistently across the organization? How did the Corporation increase buy-in and trust from the C-suite, senior leadership team, and the Board of Directors? And how did the company develop and standardize a succession planning process that aligned with operations that spanned multiple departments, business partners, time zones, regions, and countries?
Read the case study spotlight for insight into Parkland’s data-driven succession planning process.
Key take-aways and company profile: Parkland Corporation
The great escape: From guesswork to data-driven insights
From simply filling vacancies to “real” succession planning
Leader readiness
Defining “performance”
Defining “potential”
Impact
Key considerations before “data-fying” your succession planning strategy
Appendix A—Methodology
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