From the category archives:

Business Strategies

Don’t lose your Queens and Vonns

March 5, 2010 · 0 comments by Terry Lauter Comp

in Business Strategies, Employee Communication, Leadership, Organizational Growth, Performance Feedback, Training, Uncategorized

“…Talented people will always have options, regardless of the economy.” –Mary Ann Downey

Did you get that? The war for talent is ever-present. Patriotism is no longer a good enough reason for your top talent to stay put.

Downey demonstrates this in her recent i4cp blog (http://tiny.cc/FqNK4) where she takes a look at Olympians who are not competing for their native countries.

Pairs skater and Japan native, Yuko Kavaguti competes for Russia
American ice dance siblings Chris and Cathy Reed competes for Japan
Austrian skier Prince Hubertus competes for Mexico

Simply put, “talent cannot be confined by borders,” Downey writes.

Olympians look for the best place they can be challenged and grow. Same is true for high performers. They will not settle with traditional appeals but rather seek out a place where they can reach full potential and beyond, Downey essentially says.

You may have a Queen Yu-Na, Lindsey Vonn or Evan Lysacek in your company. That’s GREAT! But …don’t get too cocky. We’ve said it before and we’ll say it again: What are you doing to make sure you allow those stars to advance?

Our recommendations:

Identify your high performers
Help them assess their strengths and development needs.
Give them the tools to create an Individual Development Plan
Provide feedback and take the time to discuss corporate and personal development goals
Link compensation more directly to organizational and individual performance.

Click here http://tiny.cc/yCJOA for more on those recommendations.

{ 0 comments }

Keep the Hot Ones

February 15, 2010 · 0 comments by Larry Comp

in Benefits, Business Strategies, Compensation, Economy, Employee Communication, Management, Organizational Growth, Uncategorized

Whether you see it or not, your organization may be in danger of losing some of its top performers.

So Brandon has been with you six years and his performance ranks among the best. Because of this, you have been able to offer Brandon above average annual salary increases. He also likes working for you. toptalent

However, when the thriving competition down the block offers Brandon a significant salary increase, coupled with an attractive bonus – he’s leaving you.

More and more top performers are realizing that, to “get ahead,” they may have to leave their current employer.

We know salary increase budgets are not what they used to be. Experts predict 2010 salary budgets to be in the 2-3% range.

But can you afford to lose the “hot” ones? It’s time to identify those people that you can’t live without and give them a good enough – scratch that – a WORTHWHILE reason to stay.

Here are some suggestions:

1. Identify your top performers and let them know how much their efforts are appreciated. Also consider if any of their salaries are in need of adjustment

2. Consider offering “spot” awards, as appropriate, for superior individual contributions

money_manffcd 3. Identify those employees who possess critical skills you cannot live without. Consider the prudent use of a “Stay” bonus where such an incentive may be warranted.

4. Consider including your key long-term strategic players in a Long-Term Incentive Plan (LTIP). Incorporate a vesting schedule as an incentive to stick around long-term.

Don’t wait until it’s too late to ask why your top employees want to jump ship.

{ 0 comments }

To Leave or Not to Leave? That is the question.

February 2, 2010

We all want a purpose in life, don’t we?
Who wants to sit at a desk every morning, not knowing why he or she bothers going to work every day?
Sadly, it’s a mentality that is plaguing more and more high-performers whose development aspirations went out the window with their company’s profit.
According to a survey conducted by [...]

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THEY shoot…and they SCORE!

December 1, 2009

Goalsharing works. It is not the “Program of the Month.” It is a way of being – a proven process for helping organizations to not only survive but also to thrive in a rapidly changing environment.
Goalsharing is a means of working smart that engages and rewards employees for continuous improvement. Over time, it transitions [...]

Time for a Compensation Check-up?

October 30, 2009

How can you tell if your Compensation Program is working?
The first clue is whether or not the organization is meeting its short and long-term financial goals. Even in these tough economic times, financial performance provides some good clues.
If not, SYMPTOMS might include:
1.    Difficultly attracting/retaining your TOP performers, while less productive ones “stay put.”
2.    Lack of focus from employees [...]

Bad times can make you bitter or better

July 23, 2009

I have long been a fan of the “Wizard of Westwood”, Coach John Wooden. The legendary UCLA basketball coach’s phenomenal achievements in basketball probably pale in comparison to his contributions as a teacher and developer of young mens’ character. Wooden still to this day uses maxims or “Woodenisms” to teach important principles of life. One seems [...]

In a Recession: Recognize & Retain Your Star Performers, Part IV

July 10, 2009

Research tells us consistently that top performers outperform average team members by a ratio of at least 3 or 4 to one. If you take a moment to do the math, the implications are simply staggering. How could a prudent leader allow his or her super stars to languish among the troops at a time [...]

In a Recession: Recognize & Retain Your Star Performers, Part III

July 8, 2009

As the economy continues to slowly churn, many organizations have made their cuts, and are now turning their attention to the survivors. While these folks may be glad to have a job, some of the star performers may be waiting for the turn-around to make their get-away. If they haven’t been recognized for their extra [...]

In a Recession: Recognize & Retain Your Star Performers, Part II

July 6, 2009

Last post, we discussed the fact that “pay for performance” or “rewards for results” is still a myth in many segments of corporate America today. While most companies have a vital few who are achieving most of the goals, we are realistically not recognizing and rewarding these individuals in a way that will ensure their [...]

“Getting Real” in Today’s Economy

June 24, 2009

We’ve all seen the headlines, and heard the very real reports of salary freezes, forced time-off, and 401(k) matching “vacations”, not to mention lay-offs and closures. Clearly, many companies and their employees have been significantly impacted by this current recession. While we are beginning to see light at the end of the tunnel, experts say [...]

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Business Strategies

Don’t lose your Queens and Vonns

Keep the Hot Ones

To Leave or Not to Leave? That is the question.

THEY shoot…and they SCORE!

Time for a Compensation Check-up?

Bad times can make you bitter or better

In a Recession: Recognize & Retain Your Star Performers, Part IV

In a Recession: Recognize & Retain Your Star Performers, Part III

In a Recession: Recognize & Retain Your Star Performers, Part II

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