Learn how to promote someone into a position of leadership within your business. Dr Z and business coach Clay Clark break down Jack Welch’s employee differentiation system and the importance of ranking your employees and promoting from within when possible.
Question – What is the main thing you look for when promoting someone within the organization to management or leadership?
The 6 Characteristics You Want to Look for When Promoting Within:
- “When you seek constructive criticism and not praise then you will get a raise.” – Clay Clark (Forme United States Small Business Administration Entrepreneur of the Year)
- Core Skills
The 5 A’s That Doctor Z Looks for Out of All Employees:
- Above and Beyond
Question – Do you ever feel bad about ranking (differentiating people) people?
- NOTABLE QUOTABLE – “Make them feel loved, hug them, give them cash, give them rewards in the soul and wallet. Do everything for them. For the middle 70%, show them what they need to do to get in the top 20%. For the bottom 10%, tell them why they should move on. Do it over a year or so. Tell them what their shortfalls are, tell them they’re in the bottom 10%, don’t give them a raise, and ask them to leave. Tell them ‘Over the next several months, [we’ll] work together to get you in the right place.’”- Jack Welch (The former CEO of GE who grew the company by 4,000% during his tenure)