In the Ron Santa Teresa Rum Company we started applying Top- grading three years ago in one of the roughest business environments in the world—Venezuela, where crime, corruption, and social deterioration are rampant. Thanks to Topgrading we’ve transformed the company and our community, but most importantly we’ve altered the philosophy of our surroundings. Topgrading is meta-strategy; talent must precede your purpose if you’re determined to overcome the daunting challenges of survival as a business and then thrive in the international arena.
Business and social results have followed, as operations margins rose from 12% to surpass the 17% industry standard. Local human development index is more than 40% better than it was in 2003. In 2011, the company was selected as the third best place to work in Venezuela and the 23rd out of 1,900 Latin-American companies.
- Alberto C. Vollmer, CEO
Company: Ron Santa Teresa
No. of Employees: 400
Industry: Rum Manufacturing
- Improved from 25% to 74% of people hired in the total company (except hourly in the rum plant) turned out to be A Players, with Topgrading.
- 76% success Topgrading in all management positions.
- 90% of those hired come from Network.