3. Studies show, depending on the job,
the difference in productivity between
high performers and average performers
is a whopping 35 percent.1
Yet identifying high performers can be
challenging. According to Jim Collins,
author of Good to Great, you need a
formal approach to identifying them,
one that isn’t based on politics
but consistent, observable metrics.2
Start by recognizing the key behaviors
and competencies of existing high
performers. Then use these as a
benchmark for measuring your
employees, which helps eliminate
subjectivity and ensures high performers
are identified and managed consistently.
Evaluate your team.
Who are your high performers?
1
1
“Are You Missing Something? Engaging and Enabling Employees for Success,” The Hay Group, accessed on February 26, 2014,
at http://www.haygroup.com/downloads/ww/misc/insight_external_brochure_singles.pdf.
2
Jim Collins, “Good to Great,” accessed on February 26, 2014, at http://www.jimcollins.com/article_topics/articles/good-to-great.html.
4. 3
Jessica Brack, “Maximizing the Millennials in the Workplace,” UNC Kenan-Flagler Business School, page 2.
OK, your high performers and their key
traits have been identified. What next?
Mind the gaps! Use 180- and 360-degree
reviews, self-assessments, and competency
evaluations to get the big picture of skill
gaps (helpful for today’s productivity but
a key part of succession planning, too).
Next, create a cycle of continual
development. Assign training that
specifically addresses competency
deficiencies uncovered during the
review process – so now you’re actually
improving your employees rather than
simply judging them!
Remember too, that today’s workforce
demands learning. For example,
Millennials, who will make up 50% of
the workforce by 2020, are much more
attracted to companies that invest in
employee development.3
2Identify competency
and skill gaps.
Where are the shortfalls?
How do you address them?
5. Performance uncovers where
development is needed, training
strengthens those areas, and
succession planning combines the
two to grow your future leaders.
Successful companies interweave
every aspect of people management
to build the most productive teams
and keep those teams intact.
A Bersin study found businesses
with tightly aligned talent processes
experienced 40% less turnover of high
performers and had a 156% greater ability
to “develop great leaders.”4
Tie all your people
practices together.
Get the full view of your teams’ capabilities.
3
4
Bersin, “Talent Management Systems 2013: Market Analysis, Trends and Provider Profiles,” page 21.
5
“Social Knows: Employee Engagement Statistics,” The Social Workplace, accessed on February 24, 2014, at
http://www.thesocialworkplace.com/2011/08/social-knows-employee-engagement-statistics-august-2011-edition/.
6
Ibid