Tag Archives: company

B&R Equipment

Keep a Plan “B” handy when things do not go your way

Businesses in any industry functions on lot of planning and strategies. The strategies are usually laid to keep things moving and to pursue the overall motto of the company and that is the growth of the company. But there are times when the plans that you have set up do not go in sync with the current situation and this is when there is a likeliness of things going out of control. This is when a Plan “B” comes into picture. By Plan “B”, we refer to a secondary plan which is in place to defend the company from any backlash that comes as a result of the failure of Plan “A”. So when you see that you are preparing a plan which you feel that has half a percentage chance to succeed, you should also think about preparing a correspondent plan that will take over the initial plan if that fails to work out.

Preparing a Plan “B” is easy but following it is difficult. You need to do some brainstorming and discuss things with people from all the departments on things that you should do if the initial plan does not work out. You may even get suggestions that you will find wise enough to be followed but the real challenge is to implement the secondary plan. You have to change the complete course of action from the first plan to the second. This is undoubtedly the most difficult part because it means that there has to be some sort of changes in every department and not everybody can easily accept changes nor it is simple to bring changes throughout the company if yours is a mighty big one. Therefore before you think about jumping for a Plan “B” it is imperative that you understand the pros and cons and also the shape it will give to your company.

If it is a plan that will not have a major impact on the functioning as well as the finances of the company, then perhaps there is no need to have a secondary plan. Yu can always term the first plan as obsolete and move on with something else. But the problem will be when you are thinking of acquiring another construction company where you will have the maximum stake. In situations like these, you not only put the future of the company at stake but also the interest of the shareholders who have invested their money by trusting your thought process. This means that you can’t afford to go wrong and in case if you do then there should be a plan to back the backlash of your initial plan.

Do not forecast a lot and work more on ground realities. When you forecast a lot, you keep a lot at stake and if your forecasts keeping going wrong, it adversely impacts you as well as the company. Being foresighted is good but if you forecast just on the basis that it will all go your way, then that may prove to be a bad move.

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End Date: Thursday Dec-14-2017 8:29:01 PST
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Start picking up star performers in your company and reward them to keep them retained

The top performers are called as the ‘Star’ or ‘A’ performers, are the most important assets of any company. They possess the most valuable skills and move the business forward. Hence, it is necessary for any company to identify them, understand their career goals and reward them suitably. This approach will enable to retain the best talent which in turn will ensure stability of organization and allow its rapid growth

 

Star performers can be identified possessing the following characteristics:

  1. Capability of taking a responsibility in short span of time: They volunteer for handling new assignments. They are professionals who deliver strong and high quality results by means of an efficient teamwork.
  2. Unquenchable thirst for knowledge: They like to know how the things work. This quality gives them an advantage of improving troubleshooting skills. They master new types of expertise.
  3. Good communication skills: This ability allows them to deliver their ideas in an effective way. There is very little misinterpretation which avoids failures.
  4. Trustworthy and reliable: Senior managers and colleagues seek star performer’s advice and they are considered as good confidantes. They forge strong relationships and their opinions are always valued.
  5. Willing to take calculated risks:They weigh ups and down of a particular situation and take their decisions.
  6. Exhibits a well rounded effort: They are good both personally and professionally. If they are good at home, or at sports, they will undoubtedly be good at the workplace too. They serve as role model and mentor for others. Thus, they achieve excellence in most of the spheres of life.

 

Losing high performers is painful, both personally and professionally. Hence, it is very important that they be retained by the employer in the following ways:

  1. Give them opportunity to head or control a project: They need to take the core responsibility of a project where they get chance to present their ideas and they can take their decisions.
  2.  Leaders should interact with high performers and understand their passion and career goals.
  3.  Present them with challenges: High performers always like challenging projects. Hence the company should entrust them with interesting and difficult projects to keep these performers motivated to work.
  4.  The managers should ensure that the star performers trust their leadership capabilities
  5. Offer regular feedback : Weekly meetings should be held to let them know about their work performance and areas of improvement.
  6. Reward for great work : To recognition their efforts that have made a significant contribution to goals and objectives.  a.  Recognition memo from the Manager  b.  Send out a weekly email of the employee’s achievement to the entire company.  c.  Award the employee of the assignment they were interested in working.  d. If they are very outstanding in their work then to reward them handsomely as An Award to be given, Letter of Appreciation, Announcement as Employee of the week/month in Town hall meetings

 

When the top performers feel respected, honored and recognized for their efforts that their performance and confidence increases. This enables to retain the top most talent for a long time ensuring success of that organization.

Buy Now on eBay

24 Keys Heavy Equipment / Construction Ignition Key Set

$48.00
End Date: Tuesday Nov-28-2017 7:55:30 PST
Buy It Now for only: $48.00
Buy It Now | Add to watch list

7 Keys Heavy Equipment / Construction Ignition Key Set

$14.95
End Date: Thursday Dec-14-2017 8:29:01 PST
Buy It Now for only: $14.95
Buy It Now | Add to watch list