CASE STUDY

Developing Future Leaders for The Cumberland Building Society

The Challenge

The Cumberland Building Society’s Background

In 2023, The Cumberland Building Society embarked on a strategic initiative to support its transformation into one of the UK’s leading building societies. Recognising the importance of preparing its next generation of leaders, The Cumberland identified a group of high-potential leaders as future successors. However, without a defined leadership framework, there was no clear pathway for these leaders to understand the expectations of more senior leadership roles or the skills needed to advance. To address this, The Cumberland partnered with Let’s Talk Talent for a solution that would establish an evaluation framework to support the growth and development of its emerging leaders.

The Cumberland Building Society’s Objective

Our objective was to design and implement a 360-degree assessment tool and methodology that would provide tailored feedback to the identified leaders. In order to do this we adapted and utilised a globally benchmarked leadership competency framework ‘The Great Eight’ and built this into an evaluation tool. This tool was designed to highlight development gaps, identify growth opportunities, and prepare these leaders for future executive roles by enhancing their readiness and driving continuous development.

The Cumberland Building Society’s Goals

  1. Pilot a scalable methodology
  2. Align with existing development initiatives
  3. Create structured development action plans
  4. Support ongoing individual development

 

Approach and Implementation

Let’s Talk Talent crafted a tailored 360-degree assessment methodology, focusing on specific leadership competencies and behaviours. Key components included:

  1. Customised 360-Degree Assessment: We developed a comprehensive assessment tool tailored to The Cumberland’s values and leadership expectations. Participants received feedback from a range of peers, direct reports, and leaders, offering a holistic view of their strengths and opportunities for development.
  2. Feedback and Development Alignment: In collaboration with the organisation’s existing coaching programme, each leader’s assessment results were aligned with internal development initiatives, showcasing a clear actionable path for growth.
  3. Structured Development Action Plans: Following the assessment, Let’s Talk Talent worked closely with each participant to create personalised action plans, setting specific, achievable goals to advance their leadership capabilities.
  4. Pilot Approach with Scalable Potential: This pilot programme was designed to be scaled, enabling The Cumberland to apply the assessment methodology to future leadership and management development cohorts.

The Results

Impact and Results

The pilot programme delivered valuable insights and had a positive impact on the leadership development strategy, with the following results:

  • NPS Score: Participants rated the programme highly, with a Net Promoter Score of 66, reflecting their satisfaction with the assessment process and its value to their development.
  • Identification of a Flight Risk: Through the assessment process, one potential flight risk was identified, which was discussed (without breaching confidentiality) allowing the organisation to take proactive steps to retain this high-potential leader group.
  • Six Common Development Gaps Identified: The assessments revealed six recurring development areas among the group, which informed the organisation’s overall leadership development strategy.
  • 100% Recommendation Rate: All participants recommended the 360 assessment programme, endorsing its effectiveness and impact on their development journey.

Conclusion

This project highlights the power of a targeted and customised 360 assessment approach in equipping future leaders for executive roles. By providing clear, actionable feedback and aligning it with existing development resources, Let’s Talk Talent enabled The Cumberland to prepare its emerging leaders for success in a way that can be scaled across the organisation. The results of this programme not only identified development gaps but also highlighted the importance of proactive talent retention and a structured approach to leadership growth.