How do you create the path for growth and opportunity for your employees? Today, Tim and Derek share the system they created for promoting their employees. The guys discuss the mastery ladder they created that their employees follow to get a raise and promotion.
A mastery ladder is a clear set of steps that shows the skills needed to get a raise or promotion. This ladder helps employees to know exactly what to improve on next and reduces stress about asking for raises.
In this episode, they discuss:
- Creating a mastery ladder — skills and tasks your team needs to do to get a raise
- Tips for creating the mastery ladder
- The importance of transparency in pay scales for employees to know their worth
- Having unrealistic standards for employees can lead to burnout and decreased morale
- Asking employees for feedback and providing constructive criticism
- Communicating the ladder to your team so they understand your expectations
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