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in Atlanta, and author of, “De- railed: Five Lessons Learned from Catastrophic Failures of Leadership.” Naturally, he adds, it’s also critical to make sure the person in mind is qualifi ed to take on the new responsibilities that a promotion commonly entails. “When promoting star employees to management roles, don’t for- get to provide training, something small companies often skimp on,” Dr. Irwin says. “Don’t take your best person and automatically promote them because of that. Either equip them to be a manager or bring someone else in,” to fi ll a management vacancy. If an owner can’t afford to
promote a top performer into a higher paying position, there are other ways for compensation, says Cappelli, such as offering the op- portunity to lead a project or take on new responsibilities. Another option is to infl ate the employ- ee’s job title. “People actually like titles,” says Cappelli. “They can show off to their friends.” Jose Costa, owner of branding and marketing agency, Costa IMC, says he offers extra paid time off, if he can’t afford to give someone a pay bump. “You can see their confi dence levels go up,” he says. “They feel more in power.” Costa also reminds employees that their odds of landing a promotion hinge on the success of the company. “It serves as a motivator,” he says. “If the company’s doing well, they’re going to be compensated.” ■
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INDEPENDENTRETAILER.COM for Industry News & Updates March 2011 105
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