Who can help drive the growth in your company? Many fail to realize the key roles that Account Managers, Project Managers and Department Heads play in this goal. These are the people who keep the wheels running and making sure things get done. Take the below examples to help understand these roles in your own company.
A content management company with major corporate clients with competent marketing & sales people and sufficient programmers working on websites can grow for a while. But the plateau will be fairly stubborn if they don’t have great project managers. There are so many moving parts when it comes to content management for major websites. The left hand needs to know what the right hand is doing. Promised tasks must be completed correctly and in the right sequence. Requested changes must be acknowledged, addressed, and recorded. Without great project managers, the probability of uncontrolled scope creep increases by the minute and the company’s gross profit evaporates.
The growth of a global mobility services company can be driven by great account managers because the account managers stay in touch with several influential people and decision makers in their international corporate clientele. The company can be better prepared to prevent problems and propose new solutions because the account managers know where things are headed, learn about shifts in client priorities, hear about possible mergers and acquisitions earlier than competitors, and aren’t surprised when an executive is replaced.
An association management firm can handle multi-million dollar accounts if great department heads understand the factors behind gross profit and customer retention. They know that they serve both the internal and external customer
It pays to invest in these key people. More and more, we are being asked to review the compensation plans and performance metrics for project managers, account managers and department heads. That’s good. That means that more executives are recognizing who really drives the growth of their businesses.
Personally, I prefer compensation formulas that involve a set salary for the position which is paid if the person shows up, does the basic work, participates in meetings, provides reports, and isn’t a bottleneck. Increments (raises) can be based on increased cost of living, increased responsibility or span of control. And the lion’s share of variable compensation is performance based on key metrics like capacity optimization and gross profit for department heads, reduced surprises/prevented errors and account growth for account managers, and customer satisfaction, timely execution and project profitability for project managers.
Known as The Growth Strategist®, Aldonna Ambler built and grew a suite of companies to help midsized B2B companies achieve accelerated growth with sustained profitability® A Certified Speaking Professional (CSP), Ambler has addressed over 2000 audiences and hosted a syndicated online talk show about growth strategies for 9 years. As a growth financing intermediary, Ambler raised over $1 Bil dollars for midsized companies. The winner of over 2 dozen prestigious national and statewide "entrepreneur of the year" awards, Ambler is available to speak about “profitable growth during any economy” and/or serve on the board of a growth-oriented privately-held company.