By Bill Olson
Chief Marketing Officer at United Benefit Advisors
Every workplace has its fair share of slackers and goof-offs, but it’s what an employer does with those employees that solidifies its corporate culture as one of high or low performance.
Employers that ignore low-performing employees risk more than just productivity. In an article titled, “Study: Beware ‘Toxic’ Influence of Low-Performers” on the Society For Human Resource Management’s website, research found that low-performing employees hurt overall morale and increased their co-workers’ workload. Furthermore, innovation and motivation are stifled and mediocrity is deemed acceptable.
What may be of most concern is that a mere 60 percent of survey respondents looked at their co-workers and would rehire them. Their motto should have been: we may hire the best, but we keep the rest.
Successful companies know how to weed out their weakest links, while rewarding and retaining high-performing employees. They know that employees who perform poorly can cause high-performing employees to seek jobs elsewhere. Successful companies are able to identify their best employees, then they establish incentives, opportunities, or other ways of ensuring they stay.
So, how do you identify the best, or even the best of the best? It’s not as easy as it may seem. These are the top 10 percent to 15 percent of the organization. A company must first determine a set of guidelines that mark an employee as a high performer. Once the guidelines are in place, observation of these employee traits should be done in order to ensure uniformity and that the guidelines were set correctly.
Now that a company knows what it expects in its employees, it’s time to announce that to everyone so that they either know they’re doing the right things, or can make a plan for improvement. At the same time, employers should conduct surveys on employee satisfaction. Their focus should be on their top performers and what makes them happy.
Plenty of data should be collected regarding the criteria that not only make an employee a top performer at the company, but also what he or she prefers in terms of job satisfaction. Going forward, this data should be matched to potential recruiting candidates for new positions. In addition, surveys that measure the quality of a new hire (i.e., whether the recruiter hired the right candidate) should be completed at predetermined intervals of three, six, nine, or 12 months.
In jobs where there is high demand and lots of attrition, correctly recruiting and retaining the best performers could be the key difference in a company’s success.