James Bryant - "Business Excellence"
IBGR - PROFIT Radio Network. Everything a business owner needs to start, grow or exit a business. Come grow with us.
People are one of the biggest assets that you can invest in for your company. You can have the best business plan and the best strategy, but the execution of those plans relies on the people in your organization. The ability to attract and retain top talent is critical to your growth plan. One of the best things that you can do for top talent is to surround them with other top talent and to promote top talent through the company’s career path. Last week we talked about the importance of having a career path within your organization. The path has been laid out and the requirements for promotional opportunities has been set. Promotions that are not based on performance can lead to decreased productivity, decreased moral, and lower employee satisfaction rates.
Growing Leaders Grow People
Growing People Grow Businesses
Growing Business Grow Profits!
This week’s show focuses on Promotions based on performance. In preparing for this episode I talked to several current and former small business owners and managers within larger established organizations to get their perspective on the promotions process. We will talk about the concept of top grading within a formal talent management framework. There will also be some time set aside to talk about how these concepts function if you have a flat organizational structure.
What You Need to Know
No Career Path No Growth
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 talent management system.
Key Issues - Employee Perspective:
What You Need to Do
Next Show: Formal Training Programs to Accelerate Growth
Written by James Bryant
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