TrainingPros, in collaboration with a renowned financial services company, has been awarded the 2023 Brandon Hall Group Silver Award for Best Leadership Development Program. This prestigious recognition highlights the exceptional partnership in creating a transformative leadership development initiative that upskilled senior leaders to navigate the evolving demands of the financial services industry.

Executive Summary

In the wake of the COVID-19 pandemic and a rapidly changing business environment, a leading financial services company partnered with TrainingPros to reinvest in leadership development. Recognizing the need to cultivate leaders capable of driving transformation, the company launched a comprehensive leadership program that integrated modern leadership concepts with its long-standing cultural values. TrainingPros provided both instructional design expertise and qualified consultants to craft a high-impact program that enabled senior leaders to thrive. This collaboration culminated in the development of their leadership development program, which received industry recognition with the esteemed Silver Award.

The Challenge

For decades, the financial services company had been a leader in executive development, leveraging its renowned Leadership Institute. However, following the 2009 Great Recession, the company scaled back on its leadership investments as it focused on survival. While the company’s strong leadership culture sustained it through turbulent times, the need to reinvest became apparent as the economy recovered.

By 2019, the company’s leadership development gaps were clear: many seasoned leaders had retired, and new leaders, often from other financial institutions, brought differing leadership styles. Additionally, rapid changes in digital technology, remote work, and societal shifts further amplified the need for leadership transformation. The company recognized the importance of re-educating its leaders to ensure they could transition from merely managing operations to leading people effectively in a complex, evolving environment.

The onset of the COVID-19 pandemic in 2020 exacerbated these challenges. With remote and hybrid work becoming the norm, leaders struggled to maintain connections with their teams, manage emotional well-being, and lead with empathy. It became imperative to develop a leadership program that not only addressed these challenges but also incorporated new concepts like DE&I, well-being, and innovation.

The Solution

In response, the financial services company partnered with TrainingPros to design and implement the senior leadership development program. The program was designed to refresh the company’s leadership culture and equip senior leaders with the mindsets, skillsets, and toolsets required to drive transformational results.

The leadership development program is a self-directed, peer-connected, and virtual learning experience tailored to meet the specific needs of the company’s senior leaders. The program’s core framework revolves around the development of nine critical transformational leadership capabilities (9TLC) that were carefully selected to align with the company’s business and people strategies.

Key components of the program included:

• Workspaces: A web-based platform housing curated content, including skill builder checklists, self-assessments, and leadership toolkits.
• Virtual Scholar-Led Workshops: Nine interactive workshops facilitated by internal subject matter experts, which provided peer interaction and case study analysis.
• Leadership Platinum Certification: An optional certification for leaders who completed advanced learning and application activities, further solidifying their expertise.

TrainingPros played an instrumental role in designing the program, providing a lead instructional design consultant who guided the design and delivery of the initiative. The program was built on a foundation of the company’s leadership expectations, a codified set of behaviors that were introduced to the organization during the development process. These expectations serve as a compass for leaders as they apply transformational leadership principles to everyday challenges.

 The Result

The leadership development program exceeded expectations and delivered significant improvements across the financial services company’s leadership landscape:

• High Engagement: The program saw a remarkable completion rate of 88%, with strong participation from the senior leadership team.
• Net Promoter Score: The program achieved an NPS of 78%, far surpassing the 48% goal.
• Leadership Platinum Certification: Approximately 10% of the participating leaders achieved this rigorous certification, demonstrating their commitment to leadership excellence.

The program also strengthened the company’s enhance talent and culture strategic pillar, which is one of four key organizational transformation strategies. The program not only built leadership capabilities but also created a practical, real-world leadership toolkit that aligned with the company’s evolving business strategies.

 Measurable Benefits

The Catalyst program was evaluated using the Kirkpatrick Levels of Evaluation (Levels 1, 2, and 3) to measure its effectiveness and return on investment:

• Level 1 (Reaction): The program’s overall NPS score of 78% was a clear indication of its positive reception among participants.
• Level 2 (Learning): Digital assets within the Catalyst Workspaces were actively utilized by participants, who completed self-assessments and skill builders throughout the program.
• Level 3 (Behavior): Behavioral changes were tracked through the completion of Leadership Platinum certifications and the application of leadership principles in real-life scenarios.

The program’s scrap learning rate remained below 6%, far exceeding the industry benchmark of 15%, highlighting its relevance and impact.