In order to come out a winner in the global talent crisis, companies must attract high performers with the skills necessary to lead the organization into the future, as well as retain high performers. Failure to take action on low performance, taking the necessary steps to bring about improved performance or move low performers on to better fitting positions or out of the organization, will greatly reduce a company’s ability to win.
Low performers fuel a downward spiral that stretches way beyond the scope of the position held. Low performers produce poor results. What's more, low performers spread toxicity throughout the talent pool in ways that are alarming. The resulting cycle can be reversed through sound performance management practices.
- Low performing managers do a bad job of developing their direct reports. As a result, the skills of the team will fall short. Employees will not learn the skills that they need to continue to contribute or to advance to higher levels.
- Poor development opportunities will surely impact job satisfaction and cause employee engagement to suffer. Just think about a time that you worked for a bad manager…..enough said.
- Low performers are not likely to be promoted. As a result, if allowed to stay in their position, they block opportunities for promotion by other high performers.
All three of these results have a direct impact on your organization’s ability to retain and recruit talent in this competitive marketplace. High performers will seek out opportunities where they can continue to develop, be mentored, and advance in their career. Given the social nature of talent management, a company’s reputation can quickly erode making the attraction of top candidates even more challenging that it is.
Bottom line – performance management should be the foundation for your talent management strategy. Software solutions available today can make the job of measuring and and evaluating performance on an on-going basis easier than it has ever been…equipping companys with the tools required to manage and take action on low performance.
Learn more about how viaPeople's Performance Management solution can help you break the cycle.