Episode 27 - Meritocracy or Nepotism
In this episode I talk about Meritocracy or Nepotism. Nepotism in a workplace is not evil or unusual. Nepotism can in fact be used to create strong organisational culture but it has to be used in the right way where it aligns people with the common objectives of the organisation i.e. bottom line profit, success and fulfillment of ambition and promotion. More often than not nepotism in the workplace is not used in this way and in turn it becomes one of the greatest sins. It's much better to instill a culture of meritocracy. I also talk about equity splits in start up businesses and why often the initial split is rarely correct which leaves business owners unhappy and in dispute. One great tool I've recently been introduced to is the Slicing Pie book written by Mike Moyer - the book explains how to calculate the fair amount of equity for the right people, those that risk and help the business succeed. You can find more information at : https://slicingpie.com/ Hope you enjoy AW