Posts tagged as:

Performance

Nibble On This

October 15, 2010 · 0 comments by Terry Lauter Comp

in Business Basics Training, Business Strategies

Performance Morsel of the Week: A large manufacturing organization on the verge of bankruptcy decided to teach employees about the business, set goals and share financial rewards. The impressive results were as follows:

Employees began to think, feel, and act like owners in the business.
Stock value increased from $.10 to $20.00/share.
The company institutionalized the approach and continues to reap significant rewards years later.

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

February 2, 2010 · 1 comment by Terry Lauter Comp

in Business Basics Training, Business Strategies, Compensation, Economy, Employee Communication, Feedback, Leadership, Management, Organizational Growth, Performance Development, Performance Management, Supervisory/Leadership Training

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 i4cp, 76% of respondents said performance management is very important this year, but a meager 23% said their companies are very effective at actually doing it. (http://www.i4cp.com/productivity-blog/2010/01/28/20-years-and-counting-leadership-development-once-again-the-most-critical-issue-facing-organizations-in-2010)

“Finding and developing the right leaders has been considered a top challenge for companies for decades,” said Jay Jamrog, SVP of Research at i4cp, in the report cited above. “Given the volatility of the last year and the accelerated pace of change in the economy, companies should be treating leadership and development as both an urgent survival tactic and a business opportunity.”

“The companies that get it right – and several high-performing companies are doing it right already – have potential for great success.”

Another recent survey by Deloitte, found 65% of surveyed executives are highly to very highly concerned about losing high-potential talent in the year after the recession ends.

Are you one of these execs worrying your high-performers might ditch you as soon as the opportunity presents itself?

The important question is: what are you ACTUALLY doing about it?

If you’re stuck, the following are a few key recommendations for getting you started.

1. Identify your high performers, and help them assess their strengths and development needs. Then work in partnership with them to create an Individual Development Plan, and support them in executing the plan. communication

2. Open the lines of feedback and communication to discuss corporate and personal development goals with your high performers. If you’ve already done so in the past, maybe it’s time for an update. Make sure your superstars know how their personal goals and dreams may be in alignment with the organization’s goals and plans for the future.

3. Link compensation more directly to organizational and individual performance. Wherever possible, use self-funded incentive plans to create meaningful rewards and distinctions between superior and standard performance.

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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 [...]

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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 I

July 1, 2009

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 [...]

Be a Value Builder

May 8, 2009

Several years ago, I was reviewing some Audio Tech Book Summaries and learned that organizations tend to fall into 4 operating profiles. These profiles are largely influenced by the Chief Executive.
The first profile is Underperformer and this is the worst. In this case, the organization lacks adequate focus on revenue growth or cost savings.
The second [...]

What Can the Grateful Dead Teach Us About Business?

May 4, 2009

Each morning, when I turn on my computer, I am greeted by a new inspirational quote. Most of these are thought-provoking and I have saved hundreds of these gems over the years.
Surprisingly, one of my favorite quotes comes from Jerry Garcia of the famous 60s Rock Band: The Grateful Dead. I’ve seen a number of acts over [...]

What are the Characteristics of Truly Great Organizations?

April 29, 2009

One of my all-time favorite movies is “City Slickers.” In one of the scenes, Mitch asks Curly about the secret of life and Curly holds up his finger and states that it is just 1 thing (and Mitch will have to figure this 1 thing out).
It’s different in the corporate world. The secret to becoming [...]

What Is a “Healthy, High Performance” Company?

April 27, 2009

Several years ago, as global competition intensified, many boards brought new CEOs into their companies and tasked them with driving performance to significantly higher levels. Many of these CEOs immediately proceeded to “raise the bar” and bulldozed forward with little regard to the human element. One such leader was “Chainsaw Al” of Scott Paper and [...]

Entrepreneurship-The American Dream???

April 24, 2009

When I was growing up in the Corporate world, I thought that Entrepreneurship - running your own company - was the American Dream. After all, you were your own boss, could set your own hours, and “the sky was the limit.”
Now, after consulting with over 200 leading organizations, including many private/family-held ventures, I’ve learned [...]

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Performance

Nibble On This

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

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 I

What Can the Grateful Dead Teach Us About Business?

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