Recent TRG blog posts

At the minimum, failing to plan a succession strategy could possibly hinder your conduct of day-to-day operations. Taking it to the extreme, the absence of competent leaders, when not appropriately and timely addressed, could wreak havoc on the business. This may result in it losing its standing in the ever-challenging market and eventually collapsing into oblivion.

Hotel businesses are more than just the lodging services they provide to tourists; they need an asset manager to look after and fully exploit the potential of the property on behalf of the owner. In other words, asset managers are the ones who maintain the balance between the hotel staff, operations, and owners.  

In our previous article, we have discussed three critical losses that companies will suffer when high potential employees quit. These high potentials (HIPOs) are the lifeline of the organisation, the future leaders that you don't want to ignore.  

Time and again, the term "leadership development" is vaguely defined, confusing both employees and top management, preventing organisations from developing effective leaders.

The road to succession planning is fraught with pitfalls. Most short-sighted businesses view it as merely a “nice trend” to follow and cannot grasp the true nature of succession planning. Others give up getting buy-ins from members of the Board and top-level management. Some lack adequate tools to streamline the process.

A budget is a quantified version of your strategic goals. Therefore, having a sound budget in place is instrumental in driving your profitability and also in averting any number of adverse consequences that may arise as your business grows.  

Dominic Barton, global managing partner emeritus of McKinsey once commented on the importance of having a well laid out succession planning in an interview with Forbes: “There’s never been a more important time for leadership because of the volatility in the world today.” Yet, many businesses continue to ignore its importance and choose to march on without any formal succession plan in place.   

Great leaders are the backbone of any organisation; but at some point these key incumbents will depart and leave behind vacant critical-mission positions that need to be filled. That is why succession planning is of utmost importance. By honing your talent to their full potential beforehand, you build a leadership bench strength that is ready for coping with any challenge and responsibility. 

In a previous article, we discussed the urgent need for a leadership development program in a Marketing Agency context. In the article, we mentioned that nearly 70% of agencies struggle to fill their vacant positions. However, instead of promoting internally, these agencies seek to hire people from the outside.

The term T&E stands for travel and entertainment - any expenses incurred by travelling for business purposes or entertaining a business client. Examples of travelling expenses include money spent on accommodation, transportation, and meals. T&E expense management is important because your company's T&E budget is one of the critical places where you could look to reduce costs. Unfortunately, expense management and reimbursements for travelling employees are among the most time-consuming and repetitive manual business processes that companies face.