This month, we’re talking about job promotions. Perhaps you’ve noticed an imbalance in supply and demand — high demand from employees wanting to move up the ladder, low supply from companies keeping a close eye on their purse strings.
A1:
Let’s get you on track for a promotion.
Come to your manager with your ideal timeline – be explicit and direct so they know you mean business.
Share reasons as to why you deserve one and why the organization needs someone at the next level you’re growing into.
Come prepared with your vision for growth for the org, what does a promotion for you mean for the team and business?
Ask for and document actionable next steps.
Set up a check in a couple of months before your next review if that’s when you’re hoping to get promoted so you can see how you’re tracking.
A2:
Remember that there are only 2 - 3 levels above a VP. What’s the rush? To get to the top and stay there…? For the rest of your career? That could be decades!
B1:
You’d like to give promotions, but they’re just not in the financial cards (right now). That’s okay. Here are some workaround tips:
Share the reality in a human and transparent way about the present while offering an optimistic take on the future.
Recognize their work in other ways. Consider small bonuses or gift cards, extra unexpected time off, or shouting people out during an all hands or in #general.
Continue to create a positive work environment. Make sure everyone feels valued and supported. Encourage teamwork, offer flexible work arrangements, and recognize and celebrate milestones and wins.
B2:
Your team is jonesing for promotions, but they’re just not there yet. You’ll need to be proactive to avoid feelings of resentment.
Help them get there by giving regular feedback. Offer suggestions for improvement, but don’t only point out what’s wrong – highlight the good, too, so they know what to do more of.
Find ways for them to work cross-functionally with other teams, so they get exposure to other departments. Be sure to discuss it first, so they don’t feel like they’re getting outside work piled on without the promotion.
Have a new project you could use help with? Shepherd them through something new, again offering feedback and areas of improvement throughout the process.
BU Community Wins
Social search engine Diem was selected as one of the five emerging social media platforms to watch in 2023 by Inc. Love seeing BU members give big tech a run for their money.
Flox, an app designed to help friend groups meet, went live! Their founder Jamie Lee wrote candidly (tw) about her personal experience that inspired her to build a better way to connect.
Erica Chidi is stepping down from co-hosting the Goop app to gear up for LOOM's launch this summer. A great lesson in saying goodbye to a great gig to make space for something new.
Fine jewelry brand Dorsey founder Meg Strachan talks about how she built a seven figure brand with just $1,000 in Entrepreneur. Check out the highlights here.
I want to brag about you! Have a win for us to highlight? Send it my way.
Jobs — email me if you want an intro!
Female healthcare brand Tia is hiring a VP, People.
End-of-life care company Guaranteed is also hiring a Head of People.
Queer community app Lex is hiring a Social Media Manager.
The internet’s favorite underwear Parade is hiring a Director, Digital Product.
In the News: Lessons to learn from Mud/Wtr
Mud/Wtr prefers to invest in employee health rather than perpetuate startup hustle culture
“The cost of losing an employee is extremely high, so we invest a lot in our team and our benefits policy, more than most startups. It looks expensive on the surface, but it's kind of like eating healthy food: When you factor in the medical bills and not performing at your highest level, the true costs of unhealthy eating are probably higher.”
The whole company takes every other Friday off.
They give everybody an Oura ring when they join the company.
They connect every employee to a doctor to get blood work, cortisol tests, and advice on what they should do to improve their diet and sleep.
When we hire a new employee, we welcome them to the company through a 45-minute breath-work experience.
Best of Consumer Startup News:
In what might be the chicest sex shop ever to exist, Contact Sports opened a new sports-themed sex shop in Soho. The roses, though!
Cute snack heaven Pop Up Grocer opened their first permanent flagship location in the West Village carrying 130+ of your favorite brands like Cabi, Ghia, and Oishii.
And in even weirder news, woolly mammoth meat balls, because why not?
Recent Fundraising Announcements:
Clean skincare True Botanicals raises series B (undisclosed)
Tattoo aftercare Mad Rabbit Tattoo raises $10M series A
Retro sunscreen Vacation raises $6M series A
Small format coffee shop Blank Street raises $20M (series undisclosed)
Innovative skincare Matter of Fact raises $6M series A
David Chang’s pantry goods Momofuku Goods raises $17.5M series A
High quality cat food Smalls raises $19M
And now I’ll leave you with this,
If only there were a LinkedIn that wasn’t quite so LinkedIn-y… Black Unicorn platform coming soon!
JT