Filling a technology company's leadership gap
A Bain technology industry client had a large leadership gap. Bain assessed the company's talent and performance management system and implemented several significant changes. The new system led to a significant improvement in talent distribution and narrowed the leadership gap by 40 percent.
TechCo had a leadership gap of more than 125 people. In addition, the company's performance management system was poorly applied. For example, the company had only 50 percent completion rates on reviews and those completed were not explicitly linked to leadership standards. Under-performers were moved around the company instead of being removed.
Finally, the company's top talent was hoarded. There was no clear link between performance and compensation or professional development opportunities.
Bain performed a comprehensive reassessment of the talent and performance management systems.
Bain recommended a comprehensive but simplified talent and performance management system to help reduce the talent gap.
There were three major results from Bain's recommendations.
- TechCo narrowed its leadership gap by 40 percent.
- The company defined and implemented a world class leadership supply process.
- The company identified critical positions and facilitated the process of filling those roles with top performing internal talent or by recruiting externally.
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