Ep 5 S6 Lisa Askwith- Engaging Your People for Success - Nuture your People and Remove Bias in Promotions
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To continue from last week's discussion on how to make your business attract great people, and retain them for as long as possible, we are now going to focus on a key internal area that can really help achieve that, as well as improve your business from within. That is developing your people, and ensuring you have supportive and accessible career paths and development plans in place. Plans which help you remove bias and ensure that your internal promotion can be celebrated rather than ridiculed, can be believed in and seen to be positive and the right fit, rather than causing distrust and disengagement. In order to both retain your great people, and help them grow with the business you need more than an incentive scheme and bonuses…..so much more!. I will also focus more on how to make sure Promotions are fair and transparent, and based on performance. Whilst not getting caught up in the toxic trap of being based on connections. This is vital to get right, otherwise mistrust will take over and your business culture will lose its edge.
Let's stop this from happening and develop promotions, rewards, and a recognition structure that helps value all of your people, and makes them proud to be part of your business! One that can give back to both the business bottom line and the employee engagement levels. In reality this is not a hard or onerous task, but one that you must be aware needs to be achieved, and once done it will take on a life of its own that will help drive your culture and engage your people.
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Have a great business week.
Today’s show is about providing your people with a platform to further their success, allowing them to be engaged, and feel valued, then it is about how you as a leader make this work behind the scenes for your business and your people. This is where we go into topics such as top grading and putting in a formal performance management system. Top grading follows a similar philosophy of the pareto principle or 80/20 rule and allows you to identify and promote your top talent. Promoting top talent based on performance is a win for your company because your best people will continue to move up the career path. When you lead with your best talent, others will either follow suit by seeing what expectations look like or lesser talent will find other, less competitive, employment.
That is the black and white part of Performance systems, however people are anything but clear cut and all the same. So we will go deeper than just the checkbox methods and really look at how we can instigate strategies and programs that actually meet your peoples core needs of value, respect, interesting work, and recognition. Then we can really develop programs for your business that allow you to stand out as an employer of choice and move forward with a sustainable business model that your people can be proud of. After all it is all about engineering your people for success…….as they are your biggest asset…….. or your worst nightmare!
What You Need to Know
When you top grade your promotions, you intentionally select the top 10% of your employees and groom them for the next level or promote now, then build a profile of them as a basis of your performance management system.
Key Risk- Traditional Hierarchies limit who employees can show their potential and talents to.
Have you created an environment in which all of your employees can be seen and showcase their true talents and abilities. Lack of visibility is the main reason great people get overlooked for promotions- This is costing you more money than you realise. If you can create an environment that allows for true visibility of all of your people then your business will greatly benefit, and your culture will improve exponentially.
Key Issues - Employee Perspective:
What You Need to Do
To Develop your Promotion Strategy and Development Plans
The Workplaces of Tomorrow's Biggest Risk?
Not understanding the needs and values of the next generation of employees. This is key to not only engaging and retaining them, but to also creating and developing rewarding and effective career paths and promotions.
Studies already show that the upcoming Millennial generation have entered the workforce and feel more disengaged than either Generation X or the Baby Boomers as they feel that their need for fair pay and meaning are not being met.
To Plan for your Future Promotion and Business Structure
Previous: EP4 Winning the war for Talent
Next: EP6 Leadership Mindset- Build Yours now!
What You Need to Do
Written by Lisa Askwith
Director of ApexBRS | ApexBRS, Regional Director of See Global Media, Chair of EGN Singapore, and Associate Professor Cambridge Corporate University | At the Age of Change, providing the HR component of the Global Executive MBA and BBA. Lisa has worked for some of the largest companies in the world and successfully led restructures and change management programs in order to improve the bottom line through engaging the people for success, while developing exceptional leaders who can make a positive impact on Culture and long term business sustainability.
You can connect with Lisa on any of her platforms
LinkedIn Lisa Askwith - Director - Apex BRS
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