Monday, October 31, 2011

The McDonald's leadership story: why leaders at this Best Company for Leadership are 'lovin' it'

McDonald's is known for a rigorous, disciplined approach to running its business. But this could not be achieved without a capable team working together. It's at the core of McDonald's culture, which hires and promotes people in large part based on their ability to work in teams, says Rich Floersch, Executive Vice President and Chief Human Resource Officer. The company takes great care to cultivate its leaders as well. Its accelerated development program for high-potential leaders drives impressive levels of retention, helping give McDonald's the continuity and focus for which it is famed. With an eye to the future, the company develops its leaders in the globalized, customer-centric, fast-changing markets that it competes in.
What are the leadership practices that differentiate McDonald's? It starts with having high standards. Performance management is at the core: we employ a 20/70/10 performance distribution model across the organization: 20 per cent at the exceptional level, 70 per cent significant and then 10 per cent needs improvement. We make sure we keep these standards high. Also, around talent, when we talk about people being 'ready now' and 'ready future', the 'ready now' candidate has to be someone who can be better than the incumbent over time.
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