Page 30 - Wire Rope News & Sling Technology - August 2018

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continued from page 28 of top performers for new skills. “High An IDP might include a planned
organization well. “Innovation happens achievers have an insatiable need for pathway to advancement, or the ac-
when smart people find new and better self-development,” says Eanes. “They quisition of new skills. One individual
ways to get their jobs done.” have an ingrained need to develop might take on responsibility for larger
• Frequent feedback. Top performers themselves, so the more opportuni- projects. A second might share their
want to know where they stand, and ties you can provide them to learn, the knowledge by training other people.
want feedback more than once a year. more loyal they will be.” A third might cross train in areas out-
A negative December surprise, espe- Those opportunities can be offered side of their core competency. Think of
cially if it affects bonus pay, may well by thinking laterally. “Not every top these as “expertise promotions.”
send them packing. The HBR report performer expects that advancement These work environment modifica-
highlights the importance of monthly means a higher-level position,” says tions, combined with a robust pay for
performance reviews. Eanes. “Millennials, especially, often performance plan, should go a long
• Advancement pathways. Top per- prefer to move laterally because it way toward keeping your best people
formers expect the employer to help provides them with more learning op- from jumping ship. Monitor how well
them advance in their fields. “You need portunities and more challenges.” A you are doing by asking your staff for
to create a culture where people want high performing individual in sales, for feedback. And observe how employees
to work with you because of what they example, might welcome a move to an perform: Are they acting in more moti-
are going to learn and have a real clear- adjacent position in human resources vated ways and paying closer attention
cut career ladder so they see how they with the chance to learn a new set of to things really important?
can move up,” says Cutting. marketable skills. Creating a program to retain your
Sometimes clearing a path for ad- top people takes time and effort. The
vancement is easier said than done. Tailor your offer payoff, though, can be considerable and
In a perfect world a business would Because not all top performers have letting things slide is unacceptable.
have enough open management posi- the same motivations, you need to “Businesses which fail to retain their
tions to accommodate every deserving consult with each of them to better best people will be stuck with a major-
person. Reality is often much different. understand specific needs. “I suggest ity of their employees being slackers
What can you do? “You need to create designing what I call an Individual and overtaxing the foundational em-
a growth path for top performing peo- Development Plan (IDP) with each ployees whom they rely on for produc-
ple that keeps them feeling challenged person,” says Eanes. “Determine the tivity,” says Avdoian. “And that will
even though they are not advanced into next logical level of knowledge and lead to a decline in employee morale
management positions,” says Dye. expertise and what can you do to help which will in turn impact productivity
One solution is to feed the craving them achieve it.” and devastate profitability.” WRN

30 Wire Rope News & Sling Technology August 2018