VIEWS: 9 PAGES: 6 CATEGORY: Business & Economics POSTED ON: 7/14/2010
In an interview, Dan Cathy, president and COO, Chick-fil-A, talked about his company's continual growth and developing existing leaders. Cathy said the recession was certainly a blip on the radar screen, but it wasn't the catastrophic event that it was for others who were so tightly leveraged that they didn't have enough financial elasticity to get through this. The recession meant that people had to build margins into their schedules, their financial ratios, and their capacity for growth and development. He thinks that's one of the factors that helped his company. They have a 97% retention rate. Just about the only way you can leave is to die or retire. Cathy said they inventory their talent. They have to know their people to be able to make decisions about them. They look at fast trackers and people who need extra mentoring to be sure that they're developing them at the right rate.
Be Mor Innovative Dan Cathy T + D; Mar 2010; 64, 3; Docstoc pg. 36 Reproduced with permission of the copy
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