Top performers are one of the most important resources in any business. You know who they are. Everyone does. They are the ones who perform “above and beyond,” like staying late or coming in early to meet a crucial customer deadline, volunteering to cover for a co-worker who is out, coming up with innovative approaches and ideas to improve performance, etc. They are enthusiastic, cheerful, and diligent. Customers like them, suppliers like them, and co-workers like them. It is critical for you to know who they are and to take care of them.
One of the most important things you can do with your top performers is take the time to find out what motivates them. That means getting to know them better, both personally and professionally. That doesn’t mean a one-time visit, after which you declare that you are BFF’s. It’s a long-term commitment. Stop and casually chat at their work station, in the cafeteria, in the parking lot, at the grocery store, etc. Ask questions and share stories – it’s two-way street. They should know you better, too. Over time, this develops trust, which is the foundation of any strong relationship.
Make sure the top performers are rewarded for their performance. Recognize that it’s not JUST about money, although money is almost always a good place to start. Don’t scrimp. This is not an area to try to save pennies. You need to reward and retain your top performers. Don’t ever lose a top performer because you underpaid them trying to save money or stay within the payroll “rules.” Find a way.
In some cases, a promotion is a very appropriate reward. Promotions often come with pay increases, too, so there’s a double benefit. For some, this is exactly what they seek – more responsibility and compensation, as well as the status and respect of “moving up.” But make sure they are capable of taking on this extra responsibility and growth. Have a plan to coach, mentor, train, and monitor the newly promoted employee. Nothing is worse than promoting a top performer, only to have them fail because they didn’t receive help and guidance! Sink or swim is NOT a good development strategy.
Be aware that some excellent performers are not interested in promotions. You need to know this. One of the biggest mistakes I see is the habit of automatically taking the best individual contributor and promoting him or her into a supervisory position that they really didn’t desire, but end up taking it for the pay. This is a double loss – the excellent individual contribution is lost and the new supervisor isn’t motivated by the new responsibilities. This is where your personal knowledge can pay off. If you know what your performers want, you can “customize” their rewards so they are the most effective.
You would be surprised by what really motivates some people. What inspires some, discourages others. One employee may just want a small office rather than working in a cubicle, and would view this as a huge reward. Another may just want a little extra schedule flexibility to deal with child or elder care. Another may be interested in having a more open job description in order to participate in various projects that interest and motivate them. Motivations are as individual and different as people.
Once I thought we were going to lose our long-time chief engineer to retirement, which would have been a huge loss. His announcement indicating that he intended to retire surprised me because I knew he loved technical challenges and enjoyed the business. We had lunch together, and when I asked, he confided that he had tired of the day to day administrative work associated with managing a large engineering group. I suggested he change roles and join the senior staff as “Chief of Technology” with no direct reports. That way he could move from business to business to solve critical technical challenges, explore new technologies for the company, and still be available to help mentor his replacement. He loved the idea and stayed another five years, making significant contributions along the way! I was glad I took the time to find out more about his situation.
If you are on the other side of this conversation, try to find the opportunity to tell your supervisor what motivates you. If no one has asked, try to find an opportunity to tell them. No one wants to hear the words, “Gee, I would have happily considered you for that opportunity had I known you were interested.” Ugh. If you understand your top performers, you can customize rewards and continue to motivate and retain them. This is a very powerful tool. Don’t skimp. And take the time, effort, and sincerity required to know them better. You’ll be rewarded, too
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