CASE STUDY | BIG 4 ACCOUNTING FIRM
Strengths-Based Approach Proves Pivotal
Market share and profitability were falling. As market leader the firm stood to lose the most from the threat of disruption driven by the looming threat of new regulations. It was clear the leaders of the organisation had not fully appreciated the threat or “owned the problem”. The Head of Assurance recognised that a new mindset and new ways of working were needed.
Strengths Unleashed in collaboration with Merryck & Co. helped to kick-start the transformation. 25 partners on the wider leadership team were assessed using the Strengths Unleashed TriangulationTM strengths-based approach and benchmarked against a database of 110,000+ business leaders around the world.
The Power of One
Analysis of the data identified individual and collective strengths revealing a key systemic weakness: partner selection was based on all round capability rather than standout strengths in one or more areas. With a mix of team coaching and individual mentoring by Merryck & Co, we enabled them to release untapped potential by focusing on one or more core strengths instead of trying to excel across the board.
Based on insights from the assessments, we tailored our Development Guides to amplify each individual’s unique strengths and facilitate the creation of balanced, multi-strength teams suited to the business agenda.
The newly energised leadership team cascaded their learning across the organisation. A strengths-based assessment was completed by c.8,000 staff giving a clear picture of the mission critical strengths that drive the success of the organisation.
Across the business, people were harnessing individual and collective strengths to face new challenges. Within 18 months staff engagement scores increased significantly, turnover was up by 9% and profitability by considerably more. The threat of new regulatory constraints had been dealt with and – in the new mindset – embraced as an opportunity.