Lately, I’ve noticed a shift among the leaders I coach: a dwindling tolerance for underperformance. Given the economic uncertainties and an upcoming election, protecting our margins is more crucial than ever. This means every team member must add value, either as a reliable "steady drumbeat" employee who consistently delivers or as an overachiever who pushes boundaries and drives innovation.
Jim Collins, in "Good to Great," illustrates the importance of having the right people in the right seats. His philosophy, focusing on getting the right people on the bus and the wrong people off, is more relevant than ever. This doesn’t just mean gathering a group of high performers; it involves making difficult decisions to ensure every team member aligns perfectly with your company’s vision and values.
Embracing a "People First" Strategy Doesn’t Mean Avoiding Hard Choices
It's essential to differentiate between providing support and tolerating underperformance. Saying "They’re great people" or "They’re just having a tough time" may seem empathetic but can jeopardize your business's health when critical results are at stake. A true "people first" approach sometimes means making tough decisions for the collective good of the team and the business. Your top performers will understand and respect these decisions—they trust your leadership and recognize the necessity of these choices for the greater good.
Take Decisive Action
Following Collins' advice, consider each team member’s contribution through the lens of fit and performance. Are they the right person for this bus? This perspective ensures you not only hire slow but also fire fast when mismatches occur, keeping your team robust and focused.
For example, a client of mine emphasizes cultural fit and learning from failures during hiring. She asks, “Tell me about a time you failed.” She values candidates who own their mistakes and learn from them, recognizing that they are likely to adapt quickly and contribute effectively.
This year, more than ever, we're scrutinizing every dollar. That means being strategic about who we bring on board and swiftly addressing mismatches.
Stay strong, make those tough calls, and remember, you’re not just running a business—you’re cultivating a thriving ecosystem.
Here’s to making informed, bold decisions that keep our teams and businesses robust!
With gratitude,
Todd
