This podcast explores the importance of quarterly talent assessments in businesses. It discusses the different types of employees and provides action plans for handling each one. The chapters cover coaching, identifying toxic C players, actions and accountability, and the benefits of these assessments.
29:48
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Quick takeaways
The podcast emphasizes the importance of quarterly talent assessments to hold team members accountable for their performance and behavior.
Nurturing and retaining high-performing A players is crucial for attracting and retaining other top talent and driving strategic success within the organization.
Deep dives
The Importance of Holding Team Members Accountable
The podcast episode emphasizes the importance of holding team members accountable for their performance and behavior. The speaker highlights the two biggest mistakes leaders make: keeping underperformers for too long and neglecting to take care of high-performing individuals. To address these issues, the speaker introduces the concept of the quarterly talent assessment. This assessment involves evaluating team members based on their productivity and adherence to core values. The objective is not to replace annual performance reviews but rather to assess and discuss talent, challenge each other's assessments, and hold each other accountable for coaching and development. The goal is to increase talent density, leading to improved productivity, culture, and overall business growth.
Actions for A Players
For A players, who are high-performing individuals that embody the company's core values, specific actions are suggested to further nurture and retain them. These actions include providing new challenges to prevent boredom, increasing responsibility, offering promotions, giving recognition, providing more exposure, engaging in career planning conversations, and re-recruiting them to ensure their continued loyalty. The focus is on recognizing and leveraging the valuable contributions of A players, as they are key to attracting and retaining other high-quality talent and driving strategic success within the organization.
Addressing Underperformers and Toxic Employees
The podcast discusses how to address underperformers and toxic employees. It advises coaching and providing support to underperformers, considering role changes if necessary, and ultimately making the difficult decision to let them go if improvement is not observed. However, the speaker emphasizes the importance of addressing toxic employees who do not align with the company's core values. Coaching may not be effective in these cases, as living the core values is a non-negotiable aspect of company culture. The speaker urges leaders to be comfortable having tough conversations and to take prompt action when toxic individuals are identified. The quarterly talent assessment is a disciplined approach to continuously improve talent and increase overall talent density for long-term success.
In this Mike on the Mic episode, we will discuss how important it is in your business to incorporate quarterly talent assessments to ensure optimal performance growth. I break down the different types of employees found in every organization and share action plans on to handle each one. Who are the different players on your team? Why is it necessary to nurture your overachievers and have the tough conversations with the toxic employees? Stay tuned to hear the answers and learn more about A Players, B Players, C Players, and Toxic C Players.
