To achieve your company’s potential you need to get ‘the right people on the bus in the right seats’. Great business books such as Good to Great by Jim Collins state you must get the tight team in place before focusing on what you do. Yet so often businesses forget this and fail to manage their teams effectively. Below are some of my key learning’s on building a high performance team:
- The strength of your team is critical. Recruiting weak people leads weak results. Find the best people and pay them well…. It saves money in the long term.
- The tougher the economy, the better the people you need. There is no way to survive a struggling market with weak people.
- Average people are easy to recruit and difficult to fire.
- Always be upgrading your talent and never be afraid to pay them what they need to make.
- One superstar is of greater value than an unlimited number of average performers.
- Never wait to address personnel issues or average performance. Either they are doing a great job, or they aren’t. If they aren’t, take action. You are not there to beg people to do their jobs.
- The cost of being long suffering with an employee who is not performing is far greater than the discomfort of having a tough review and speedy termination
