If you’re not anxious about it, perhaps you ought to be. In a downturn, the top and the core performers are hunkering down, scared of leaving the familiar. However, the top 20% of you are still receiving solicitations from recruiters, as well as a lucrative offer from rivals or even other industries with a history of recession that are looking for potential employees.
So what is the motivation behind crucial talent in a down economy? It boils down to five things that any leader or business owner should be doing. You must be doing each of them on a daily basis, but especially today.
1. Does every top performer and high-potential leader realize that they are an outstanding performer and/or a high-potential leader?
In many organizations, there aren’t formal processes to recognize and develop talent with high potential, So how do people know that they are high-potential if nobody knows? I’m not able to recall the number of occasions I’ve had private conversations with potential leaders and almost slipped from my chair because I realized that they did not know that their bosses saw them as high potential. Some people overestimate their abilities; however, some underestimate their abilities. Don’t assume that they “know.”
2. Are you making sure that you have a balanced mixture of stretching assignments
as well as formal development (training and coaching. ) as well as interaction with key decision-makers throughout the company? The top performers and the most promising offer a lot and demand a lot in return. They are grateful to an employer who invests time and money into their advancement and then quit those who don’t. The majority of coaches are employed by individuals. I’m often approached by ambitious individuals who are looking to make it big and are prepared to invest their own money since employers will not invest in their success. It should come as no surprise to any person like me; these highly motivated individuals have already made the decision to quit their current job to find one who will be a serious partner and help them grow with action and not only statements.
3. Do you appreciate their work?
If your business is too big for you to take the time to acknowledge the work of each employee, What do you do to make sure that your managers appreciate excellent work and do not commit the sin of not recognizing their subordinates’ efforts? Nobody has ever told me, “I acknowledge my subordinates’ efforts.” Deputies claim to know that this is taking place. However, be extra cautious when you’re talking about theft, as even the excessive use in the phrase “we” can result in the act of theft, for example, “we compiled this data” even though, in actual you were not personally involved in any way to do with the impressive compilation. You’re only the one who is presenting the information.
4. Are all employees aware of his or their role in the company?
This is true for everyone. Taking this step will ensure that you provide your top executives with the synergy they require to operate the business efficiently. What can you do in order to make sure that your staff — and all of their teams comprehend the company’s vision, mission, direction and objectives? What are you doing to ensure that each employee is aware of their contribution to the company? It’s not enough for the top executives to understand it. Everyone should be aware and feel personally connected to it to be at ease in bad times as well as sound. It should be a regular agenda item every day, not only once, and you must make sure that your team members are accountable for performing it.
5. Are you adamantly fair?
It’s great to pay more attention and challenging assignments to your best performers and highest potentials. This is fair since you’re receiving more from them than the average employee. Fairness does not mean treating every individual in the exact same way. It’s about objectivity.
If, for example, your relatives are in the field, Do you consistently hold to the same standard as the rest of us? Or do you notice an over-portion of your relatives that are on your top-of-the-line list?
Are you examining your high-potential and high performers lists to find the diversity of your lists? In today’s world, the disproportionate representation of any group can indicate that you are not able to draw the top talent from the vast pool of talented individuals. High potentials and top performers that aren’t included in the leading group will be drawn to more welcoming environments where they’re not the only ones to be noticed.
Do you have someone in or outside of the company who could be able to call you about it if you are unintentionally showing unintentional favouritism to a person with a performance that isn’t great?