Grow Your Stars — Don’t Buy Them

Summary: Grow Your Stars — Don’t Buy Them

  1. Groom top-performers from the inside instead of looking for them on the outside.
    1. Companies often look to the outside for top-performers
    2. Buyers of outside top-performers beware.
    3. When top-performers moved from one company to another their performance declined.
    4. Being a top-performer is often not due to their ability but supporting functions – admin, IT, corporate culture, etc.
    5. To duplicate this at another firm requires trust which takes time to develop which explains under performance for a period of time that may span several years.
  2. Systematically develop stars from within.
    1. Identify what skills and attributes that will be needed to join a department,
    2. Have a strong training and mentorship program (formal, informal).
    3. Take a person with raw talent and teach them how to engage with clients. how to produce and deliver a product desired by the market.
  3. High performance companies communicate to top-performers what are the best practices to stay at the top.
    1. Companies need to be careful how they single out top-performers to not demotivate other performers in the organization.
    2. Top-performers are less likely (50% less likely) to leave the organization than other performers.
  4. Employees do not leave companies, they leave managers and this is true for top-performers.
    1. Organizations transitioning managers have to be careful to not discourage top-performers.
    2. Under-performing organizations tend to loose top-performers than those who are regarded as high-performing.
  5. The environment that the manager creates is most influential in what keeps top-performers.
    1. Top-performers who work in organizations with other top-performers are less likely to leave.
    2. Top-performers rely upon other top-performers or quality employees to deliver the product or service of the company and are less likely to leave and have to work with a lower quality support staff.

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