Summary:
A multi-billion-dollar subsidiary of a fortune 50 health care company, CareCo*, recently experienced a series of leadership changes. New leaders needed to create a cohesive organization united by a single mission and vision. Pinkston Strategy partnered with the CareCo leadership to establish a purpose-driven organization through the development of a company mission, vision, and activation of five executive priorities.
Background:
A multi-billion-dollar subsidiary of a Fortune 50, CareCo*, experienced rapid growth despite a series of leadership changes. The CareCo CEO needed a strategy to double the business in five years to include growth process standardization, strategy development, and a new operating model. To achieve their strategic intent, the CEO hired Pinkston Strategy to help build out the vision and put it into action to include cross-business alignment and operational support.
The Pinkston Strategy Approach:
Pinkston Strategy worked with the CEO and across the business to clarify and align executive priorities to create a five-year growth plan and purpose-driven organization. Pinkston worked with the leadership team to create their 5-year vision and drive it into an action plan to include mission, annual targets, priorities, action-oriented initiatives, and success outcomes that addressed growth and structural challenges to transform the company into a high-performance organization.
Once the LT was aligned, we built and led a strategic management office to activate the plan at all levels. We provided strategic advisory to cross-functional domains including growth, corporate strategy, talent acquisition and retention and employee experience, and technology roadmap.
Results:
With support from Pinkston operationalizing the plan, CareCo’s leadership team aligned across the business. The structure created delineation between roles and responsibilities which increased organizational efficiency and teamwork for achieving strategic priorities.
CareCo exceeded their annual revenue projections by 23% and exceeded profitability expectations by 5.2%.
*Client confidentiality. If references are needed prior to engagement, we can connect you to this client CEO.