There are three things that all companies want to do (among others):
- Hire the best candidates in the marketplace
- Retain the best employees they have
- Motivate their low-performing employees to achieve more
However, a company and its hiring and management officials only have so much time, energy, and resources. If you were to rank these three objectives, in what order would you rank them?
Hiring the best candidates would more than likely be the top priority, followed closely by retaining the best employees. Motivating low-performing employees could be classified as a distant third.
However, what if you could “kill two birds with one stone,” so to speak? That’s exactly what “topgrading” can do for a company.
There is a standard philosophy in regards to organizations called “The 20-60-20 Rule.” That rule states the following:
- 20% of an organization’s employees are superstars.
- 60% of its employees are competent, but not superstars.
- 20% of its employees are underachievers.
“Toprading” advocates getting rid of the bottom 20% and hiring superstar candidates to replace them. (And yes, when we say “getting rid of,” we mean letting them go, releasing them, firing, etc. They are underachievers, after all.)
When you approach your workforce in this fashion, a number of remarkable things happen:
- You’ve replaced your bottom 20% with superstar hires, thereby increasing the overall quality of your team.
- You’ve saved time and energy, since you no longer have to motivate and/or train your bottom 20%.
- You can apply that saved time and energy to retaining the top 20% that are already employees, thus increasing the chances that you’ll retain them.
This is truly a win-win-win situation. You hire high-quality individuals, you get rid of underachievers, and you retain current superstars.
The key to “topgrading” is the successful identification, recruitment, and hiring of superstar candidates in the marketplace. You must be equipped to do this, or “topgrading” will not work for your organization and you will not be able to experience its many benefits.
That’s why it’s important to align yourself with an executive recruiting firm with the experience and expertise necessary to find the top talent you need—not just to fill newly created positions, but also to help “topgrade” your organization, maximize its productivity, and realize its potential.
If you’re ready to take the next step, then click here for more information about The Doepker Group’s services for employers.