Do You Cherish Your High Performers?

You may be asking, “how is this a hiring tip?”

Well, it most certainly is.

Some business owners appreciate their top performers.

Some appreciate them and do a variety of things to acknowledge them.

Some are aware of them as top performers, but have an expectation that they should be operating at a high level and do very little to acknowledge them.

Various levels of acknowledgement of top performers are out there — from no acknowledgement at all to a very high level of acknowledgement.

Where are you on this?

The reason I ask, and the reason this is a hiring tip is very simple:

If you lose a top performer, you are now back out on the streets looking for someone to replace that person.

And here are some scenarios that may now play out:

A) It may take considerable time finding someone.

B) You may find someone but it takes considerable time to bring that person up to the predecessor’s level of production.

C) You may find someone but — regardless of training, coaxing and incentives — that person does not reach the predecessor’s level of production.

D) You may not find someone to replace that level of productivity.

So, the hiring tip is:

Cherish your high producers.

The cost in trying to replace them can be very high in terms of time and money.

There is a business concept you’re likely familiar with: “lost income.” Lost income is the income you lost because you didn’t have something or someone in place to carry out X, Y or Z at your business. It’s not always easy to recognize lost income, but it’s a legitimate factor in running a business. A top performer NOT producing — well, that produces lost income.

A future tip will give some ideas on how to “cherish your high performers.” Stay tuned for that.

As the law varies in each area, please check with an attorney to ensure you are applying these tips within the law.

Watch our three minute video to see how we can help you hire the right people.

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