If you find your hiring process slowing down, now is the best time to revamp your workforce. With a strong 69.3% participation rate in the 7-County Metro, many skilled workers are encouraged to find work in today’s economy. Making this an opportune time to recruit and hire top performers for the future needs of your business.
According to our Sr. Account Manager, David Weiler “Now is the perfect opportunity to improve your workforce through top grading underperformers.”
Underperforming employees can drag down the rest of your workforce. It is important to identify these employees and replace them with top performers. This drives performance and improves your company’s results. Which effectively helps you get ahead of hiring competition.
So, if you want to improve your business’ chances in today’s economy, topgrading is the way to go.
Here are 5 things to know about topgrading your workforce:
1. Look at Organizational Makeup
To understand how to topgrade your workforce, you need to analyze the composition of your organization.
Generally, your workforce is made up of:
- 20% of an organizations employees are superstars
- 60% of its employees are competent
- 20% of its employees are underachievers
The goal of topgrading is to get rid of the bottom 20% of your employees and replace them with superstar candidates. By making this a consistent part of your hiring process, eventually, your bottom 20% will be performing better than the middle 60% of your competition, which is exactly what you want.
2. Who Do You Topgrade?
In order to implement this successfully, you need identify those employees who fall in the bottom 20% of underachievers. While this may be obvious in some instances, it’s not always clear which employees should stay and which ones should be replaced.
Here are six characteristics of employees you need to top grade:
#1—They put forth the minimum amount of effort.
Minimum effort does not drive company growth and profitability. Going “above and beyond” is what gets the job done. Somebody who arrives late and leaves early does not display the commitment necessary to help their employer reach its goals for growth.
When a team effort is needed to complete a project or meet a deadline, an “all hands on deck” mentality should prevail. These employees habitually make themselves scarce during critical situations.
#3—They’re hostile to co-workers and customers.
This type of behavior can be disastrous, both within the organization in terms of company culture and also outside the organization in terms of employer branding.
#4—They make excuses.
The bottom 20% makes excuses to explain away poor performance. In the worst-case scenario, they blame their co-workers, “throwing them under the bus.”
Breeding negativity by complaining can be like a cancer in the workplace, especially during high-pressure situations associated with a deadline. Complaining contributes nothing positive; it only brings down the rest of the team.
#6—They do not invest in themselves.
Employees should continually seek out new training and similar opportunities to better themselves and add to their skill set. When they do that, they become more valuable. When they don’t, their stock within the company falls, and ultimately so do their contributions.
3. Identify Employee Skills and Talents
Top grading requires that you hire employees who possess the skills and talents needed to succeed in your organization. By identifying the skills and talents you desire, you will find better talent that suits your business needs now and in the future. This ensures high employee performance, and long-term success within your organization.
Skills that superstar candidates possess are strong work ethic, reliability and dependability, and attention to detail. These qualities help ensure that projects are completed accurately and on schedule, and create a more productive and efficient work environment. Additionally, teamwork is key in a successful grading workforce. Strong communication is also a key indicator. Employees who are able to communicate effectively and understand expectations are more likely to be successful. This also fosters better relationships among coworkers, leading to a more cohesive team.
In addition to identifying soft skills, it’s important to focus on individuals who have expert knowledge and experience in their field. This is because they will be able to provide advanced expertise and contribute to the success of the business. These types of candidates are also committed to growing and developing their skills. This allows businesses to stay abreast of market changes and sustain a high level of output, which are essential for any company.
4. Improves Work Culture
Another benefit of replacing underachievers with top performers is that it improves work culture. Topgrading not only improves work productivity, but also enhance workplace morale.
Underachievers often leave others to pick up the slack, which creates a negative effect on morale. On the other hand, top performers raise the bar for everyone and make work more enjoyable. They also inspire others to do their best. As a result, replacing underachievers with high achievers is essential for creating a positive work culture.
Additionally, hiring the right candidates with the right personalities is key to establishing a great work culture. The candidate should have the ability to fit into the team dynamic and contribute positively to the existing culture. They should also be able to work well with existing team members, so they can all collaborate together effectively. Their hard work may also inspire others to do the same which improves overall quality. All in all, top grading is essential for creating an environment that encourages productivity and morale.
5. Increased Quality, Productivity and Profitability
Businesses need skilled and competent employees to produce more output and save on costs. Replacing underperforming workers with excellent employees benefits not only the quality of your workforce but also your business ROI. Statistics demonstrate that top-graded staff create more efficient, higher quality work which subsequently leads to greater profit margins for businesses.
Highly performing employees are essential for businesses to generate greater productivity, as these workers are typically the top performers in their field and have the skills needed to get the job done efficiently. With these employees on board, companies can reduce costs associated with hiring new employees and use the resources for more suitable needs.
Because of the overall higher quality, companies that practice top grading often find that their customers are more satisfied with the product or service, leading to increased sales and repeat business. In today’s competitive marketplace, businesses must do everything they can to gain an edge. Topgrading is one way to ensure that your company is staffed with the best possible talent, giving you a leg up on the competition.
By topgrading your workforce, you will be able to find skilled talent that will perform better and provide more value to your organization. This will help you make the most of valuable resources and ensure that your workforce is the best it can be. Contact us or check out our services today to get started.