Being the Leader of a business is much like being a State of Origin Coach. Just like a State of Origin Coach has to strategically place players into positions that will allow them to shine at an individual level whilst contributing to the overall team result, so do you as a Leader. Promoting an employee, like changing a player on the field, can either strengthen the team or it could throw off the entire dynamics of the team.
For this reason, it is important to ensure that you prepare your strategy well before game day. Also similarly to team sports, there is a lot of behind the scenes work that needs to be accomplished before the players can take the field and today we are going to discuss some the behind the scenes work with you.
The very first evaluation you will need to make prior to promoting anyone is does the business need the position to be filled in the first place? Unfortunately, many businesses do not have absolute clarity around their team’s defined roles and responsibilities. This quite often results in positions being created without a strategic evaluation on the necessity of the position, or the evaluation of the current team member’s productivity levels. At this time an organisation review is beneficial to define departments, key functions, roles and responsibilities.
The second evaluation is how will the promotion affect your businesses cashflow. Will the new candidate be paid the same as a previous position holder or will they be paid more? Cashflow planning is critical to the survival and growth of any business, so ensuring you know the financial impact of any team moves is critical to a smooth transition.
The third evaluation you need to undertake is a review of the KPI’s, or Key Performance Indicators required by the role. You must evaluate whether the KPI’s for this role are still working in harmony and supporting the businesses KPI’s. Every role in the business should have KPI’s and every KPI should be contributing to the increased profit, cashflow and ultimately, your businesses value.
Finally once all of the evaluations have been completed, it is time to identify the right candidates for the role. In addition to their skills and knowledge you will also want to look for candidates that exude your company’s values and beliefs. People that display and support your company values and beliefs can drive your business towards its vision in a much more cohesive manner.
So as you can see, just like getting your dream State of Origin Team onto the field, there are quite a few steps to undertake behind the scenes that will ensure your team shines on game day.
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This article is published by Alodane Pty Ltd trading as Achieve Business Dynamics ABN 21 078 211 408. This article contains general information only and is not intended to represent specific personal advice (Accounting, taxation, financial or credit). No individual personal circumstances have been taken into consideration for the preparation of this material. It is recommended that you obtain your own personal professional advice before making any financial or business decision.