<i>Dear Workforce</i> How Do We Measure the Return on Investment of Keeping Top Performers
March 29, 2010
• Desire for more money.
• Need for better work/life balance.
• Lack of career growth, challenging assignments.
> Tailor your HR and benefit programs to your workforce (flexible work schedules, choices in health plan options, PTO banks, etc.).
> Publicly recognize outstanding performance and employee achievements.
> Provide ongoing training on issues such as handling conflict, delivering difficult messages and conducting effective performance discussions.
> Appropriately mix base and variable pay.
> Unambiguously link performance to rewards.
> Clearly delineate between rewards for top and bottom performers.
> Make sure employees understand what the organization values.
> Practice what you preach—hold managers accountable for their actions and for tolerating or ignoring unacceptable behavior.
> Focus attention on high performers; deal effectively with marginal performers (Is an “up or out” philosophy right for you? Or, is a culture of mediocrity acceptable?).
> Ask top performers what makes them successful at your organization and why they stay.
> Ask employees what is and what is not working and act on their input.