The state of the economy is unfortunate, with yet another of the three rating agencies downgrading South Africa to junk status and investors pulling out of the JSE and government bonds. Now more than ever companies have to optimise and enhance their organisational talent. While cost cutting may be unavoidable; it’s important not to fall into some of the common traps that will put you at a disadvantage when the economy turns around.
The bottom line is that you need to know your human capital inventory well enough to make the best decision, and have the courage to take calculated risks to upgrade when the opportunity presents itself.
Our researchers have identified four crucial strategies to optimise and enhance your organisational talent. These are:
- “Re move” your chronic under-performers
- Remove your dead wood
- Uncover your diamonds in the rough
- Never stop your hunt for high quality outside hires.
This blog post series will elaborates on these four crucial strategies.
1.” Re move” your chronic under-performers
How often have you seen organisations keep staff just because they are nice people that don’t cause a lot of waves even though they aren’t very good at their job? They’ve moved around and had a lot of chances, but just don’t have what it takes to be effective. This is especially important for people in the higher pay scales.
The first step is to identify the organisations least effective employees. Then determine if they are chronic low performers or just a bad fit for a particular job, or have a bad manager, insufficient training or lack of resources.
However, you need to be honest with yourself. They may be nice people, but if they can’t or won’t add enough worth, then you need to make the tough decision and let them go. If you tolerate them, then your mid to top performers lose the motivation to go above and beyond average job performance; they see poorness is both endured and accepted.
Do you have the data to support your decisions?
These decisions are best made when supported by facts as opposed to opinion. There are many assessment tools that give you objective data to determine if an employee is a chronic under-performer or the victim of other circumstances that can be overcome. Without valid measurement tools management becomes very difficult.