Most every organization has a group (made up of about 20% of the total population) who delivers 80% of the results. In other words, a few folks make a tremendous difference for the overall success of most every business. But here’s the rub: all too often there is no significant difference in the way we recognize and reward these top performers. In times like these, our cultural tendency to “be fair” and “treat everyone the same” can be a significant liability. More often than we would care to admit, the 20% feel like their valuable contributions are hidden beneath a cloak of invisibility. In recessionary times, we need to redouble our efforts to find any small opportunities to acknowledge and compensate the high performing individuals in a way that is meaningful, even when there are real and significant financial limitations. While your 20-perecenters may be sitting tight right now, some are hunkering down, dusting off their resumes, and waiting for the recovery. Now’s the time to get creative, and find the way to let your top performers know that they are your top priority.
In the next week or so, we’ll be highlighting a tip each post on recognizing and retaining your star performers. Here’s today’s tidbit:
Begin with an honest conversation. Explain the financial facts, and the possible timeframe for recovery. Make sure that you formally and informally let these individuals know that they do matter in your organization, and you see a place for them in the company’s future. Let them know exactly what is needed to turn the corner, and how they can specifically help.
What do you think? Will straight-forward communication with your highest performing team members motivate them to continue to over-achieve in an environment where more is needed than before?
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