- Industry: Banking and finance
- HQ: South Bend, Indiana, United States of America
- Employees: 1200+
- Solution: Leadership assessment for selection
1st Source Bank
Effective hiring of leaders through objective assessment
The challenge
Founded in 1863 in South Bend, IN, 1st Source Bank has always offered clients a convenient, secure, and personal banking experience. To allow the bank to deliver this great client experience, they knew they needed to run a robust internal organization, starting with effective leadership. This is why over 30 years ago, 1st Source Bank decided to implement a targeted leadership assessment process, partnering with a talent management solutions provider that is now known as Talogy. “A critical piece of our engagement with Talogy centers around the relationship we have with our consultant. She knows our bank and provides support on the assessment itself, and insight into the individual relative to our environment and culture,” says Tara Antonucci, , Manager-Employee Engagement and Talent Acquisition at 1st Source Bank.
Solution
1st Source Bank decided to use a psychometric as the basis for their leadership assessment process, and they chose to utilize the Talogy Caliper assessment (then The Caliper Profile) for this. They felt this tool would give them the most reliable, efficient, and scalable foundation for their leadership talent decisions, as it provides them with detailed insights into candidates’ leadership profile as well as their service orientation – an unmissable component for success within the banking environment. “Utilizing the Talogy Caliper assessment for leaders provides a wealth of insights and enables us to understand how to bring out the best in our leaders. The knowledge gained from the instrument enhances our ease in relating to external hires from day one and helps create a smooth transition of internal hires to their new leadership role,” says Tara Antonucci.
The psychometric is complemented by the bank’s interview process, which weaves the Talogy Caliper assessment results in throughout the conversation, giving the bank a robust basis for their most critical talent decisions at all leadership levels. This well-established process has enabled efficient leadership identification for hiring, high potential identification, and succession planning for the last 30+ years.
The strong relationships between 1st Source Bank and Talogy consultants have been critical for the lasting success of the leadership assessment solution. The close collaboration and guidance fostered with our clients supports our ability to provide optimal coaching and guidance, allowing us to serve as a strong partner. These dynamics enable us to keep the process relevant even when the needs change.
Results
1st Source Bank has been using their leadership assessment process for over 20 years, and for a good reason: by selecting leaders with this Talogy-driven solution, they have created an extraordinarily successful leadership organization. This is reflected not only in overall company profitability and success, but also in the leadership retention rates within 1st Source Bank. The solution has also allowed them to optimize their leadership bench strength, so if new leaders do need to be appointed these days, they have a great internal pipeline of effective leadership candidates they can leverage.
The Talogy Caliper solution has become completely ingrained into the 1st Source Bank culture. “It truly is part of the fabric of who we are as an organization,” says Tara Antonucci. Managers and leaders fully believe in the results of their leadership assessment process, feeling that the positive company results reflect the solution’s effectiveness.
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