In 2006, as Doe Run’s top leaders rolled out the new business strategy, they decided to support it with a talent strategy and action plan designed to identify, manage, develop, and promote talented individuals within the company. In effect, Doe Run would begin approaching talent management as a core business strategy. Simultaneously, Doe Run’s leadership team sought to accelerate the emergence of a new cultural direction, defined in part by employee accountability throughout the organization.
During a series of planning sessions, Doe Run’s executive team mapped out a course for the organization’s future, including a talent strategy and action plan. The executive team next put into place a leadership competency model to help drive the creation of Success ProfilesSM that spell out what’s needed for success in critical leadership positions and roles at all organizational levels. The competency model also served as the foundation for the integrated systems the company needs to effectively develop and manage its talent.
In order to build its bench strength, the company launched an assessment and development process for leaders at multiple levels to identify and develop those with potential to be successful in higher-level roles. The implementation of this process began with Doe Run’s senior leaders. To gain an understanding of its current senior leaders’ strengths and development areas, Doe Run put 10 of them through an assessment center. Afterward, some of the leaders were assigned executive coaches to help guide their development.
To instill greater accountability down through the organization for its new strategic direction, Doe Run implemented Maximizing Performance®, DDI’s performance management system. The system facilitates individuals working with their supervisors to formulate individual performance and development plans, set milestones and timeframes, and track results. Toward further implementing the talent strategy and action plan, Doe Run has formulated a six-year plan to implement development programs across the organization—all the way down to the newest of employees at entry-level positions.
Of the 10 senior leaders who participated in executive assessment sessions, three have already progressed to positions of greater responsibility.
During the first year that Doe Run instituted its new performance management system, more than 91 percent of employees had personal performance plans in place.
Also within the first year, employee engagement increased by 7 percentage points; job satisfaction and company loyalty rose 8 percentage points; and understanding of the company’s strategic direction, vision, and mission jumped more than 9 percentage points.