On 09 June 2023, our EFMD Sharing Best Practice Workshop, conducted online and in partnership with Parker Hannifin, convened learning leaders and specialists to gain insights into Parker’s strategic approach to developing its next generation of general managers. 

Kicking off the workshop, Martin Moehrle, Director of Corporate Services & CLIP, EFMD Global, constructively argued that while succession management stands as an essential component of every corporate talent agenda, specific circumstances elevate the significance of a systematic succession approach to a pivotal role in ensuring business continuity.

These circumstances encompass a spectrum such as uneven age distribution, surges in turnover rates, shifts in strategic direction and related critical skills, or a demand for more inclusive representation of select workforce segments among leadership. Within this framework, an organisation’s adeptness in identifying, validating, and accelerating potential assumes mission-critical stature in effectively replenishing the talent pipeline.

Parker Hannifin, a preeminent global leader in motion and control technologies with revenues exceeding USD 16 billion and a workforce exceeding 55,000 employees worldwide, was spotlighted. Rosaria Torriani, Head of Talent and Organisation Effectiveness EMEA, and Kay Rolandi, Program Lead of the Leadership Development Center, explained the paramount role of their General Manager (GM) population in executing the Parker Win Strategy.

They don’t regard the upcoming retirement of a large number of GMs as a succession challenge only but rather as an opportunity to drive diversity within the leadership pipeline and future generations of leaders, encompassing gender, cultural, educational, and experiential dimensions.

With a long-term horizon in mind, Parker launched the Leadership Development Center, a strategic initiative designed to assess candidates vying for general management roles and systematically develop future leadership capabilities across a diverse pool of executive talent.

Parker’s Organisation & Talent Reviews extends their focus beyond immediate successors to encompass the identification of emerging and diverse talent. This cohort undergoes a thorough assessment to define their individual development plans.

Essential pillars of constructive feedback, coaching, and executive sponsorship are central to the candidates’ development until they attain succession readiness. The overarching objective is to fill 80% of openings from within, to promote at least 45% of the Leadership Center participants within three years, and progressively increase diversity among the GM cohort.

This workshop offered an invaluable opportunity to learn about the challenges encountered along the way in terms of conceptualisation and design while engaging in peer-to-peer discussions on topical issues of executive development.

Highlights and materials from this workshop are available in the Corporate Digital Library.

EFMD company members can request free access to this library if they have not yet done so. Guests from other companies can ask for temporary access by contacting Marketa Dvorackova.

Save the date! Our next Sharing Best Practice Workshop for corporate members and invited guests will take place on 24 November, hosted by EDP.