“People are our greatest asset”, often the common cry of so many executives in our venerable industry. We walk the walk and talk the talk as well as any. Human Asset ROI and Financial Analysis of Human Assets (FAHA) have become common terms in our dialogue. Performance management systems are established in companies of all sizes. Human motivation and human development are studied in order to effectively match performance with rewards.
So why following the presentation of top-notch executive candidates do I frequently hear the response, “She is an incredible talent, but my budget for this position is only…..”? We would be well served to analyze what a stellar performer in a particular restaurant discipline might bring to the proverbial party or bottom line if you wish, prior to making that final judgment. Is it wise to pass on a super-star procurement professional because of a $20k salary disparity when he or she is likely to bring savings in excess of 10 times first year compensation? Would the CEO really pass on this person if he or she were doing the initial screening?
We proudly employ 13.1 million people who produce almost $560 billion in annual sales. Many great teams rich with diverse talent led by the nation’s best leaders dot the landscape of our arena. Increasing focus is placed on professional training and personal development while the practice of team building continues to morph beyond the “Forming, Storming, Norming and Performing” stages proposed by Bruce Tuckman in the ‘60s.
In life we are compelled to “reach a bit further” in order to achieve greatness. We are judicious in doing so in the hiring process as well.