One of the best tactics at effective talent management, is to manage promotions in the right manner. This has multiple impacts as the ones promoted tend to be better grounded and those not, feel extra motivation to be part of the pipeline. Such companies are five times more likely to feature in Fortune’s list of the hundred best places to work at. Stock returns too are about thrice the average with lower staff turnover and leaders in productivity. There exist certain steps to be followed during this entire process. First of all, the aspirations the company has need be clarified to the candidate pre-promotion. Then, each time a new post does come up, the leader must actively promote this position. A common grievance among employees is that announcements are made one the promotion is just a formality. Once the decision is made, employees must be engaged towards conviction, so they believe in the choice. A very good practice is to recalibrate with those who didn’t make the cut. Getting them onside will ensure that they will be motivated enough to try and get the jump next time out.

Source:https://hbr.org/2018/01/how-you-promote-people-can-make-or-break-company-culture?utm_campaign=hbr&utm_source=twitter&utm_medium=social

Uploaded Date:22 June 2018