Important Message… Work Now to Retain Your Top Performers

Written by Judy W Bell on May 3, 2011. Posted in Hiring, Selection and Retention

Every CEO or business owner should know who his or her top performers are. Every department manager and division manager should also know each top performer by name and by motivation type. Why motivation type? Because we all have intrinsic motivators that make us tick (or not!)

Many organizations have found it necessary to cut training expenses in this troubled economy. Critically reviewing expenses is very smart business. Cutting training expenses for your top performers, or A-Players, is not good business! Why? Because your top performers usually work circles around average employees! Your “A Players” have an inner drive to succeed. When the labor market improves, smart companies will have already established smart initiatives to retain top talent!

Some ways to hold on to your Top Performers:

FIRST and Foremost: Know who they are!
Let THEM know that YOU know WHO they are!
Involve your top performers in benchmarking and decision-making.
Ensure that your recognition programs speak to specific motivators and individual value systems (praise, flex scheduling, monetary rewards, time off incentives, project assignment, promotional opportunities, etc.)
Keep your top performers engaged with meaningful and positively challenging work assignments.
Instill a sense of collaboration within your company or work units.
Develop performance plans with your top performers. Make sure they are leading their own individual planning sessions.
Spend training dollars on your top performers. WARNING: 20% of the typical workforce make 80% of the positive contributions. However, in many training scenarios, more training dollars are spent on low performers. Think about how little sense this makes.
Address low performers. Hold them accountable.