How to keep the top guys in your team?

Managing a team of high performers requires an innovative and detailed HR and leadership approach involving an effective talent attraction and recruitment process, ongoing development plans, motivating rewards and recognition programs, and a proactive retention strategy.

According to respondents of Randstad’s World of Work Report, the main reasons for a planned job change were for better opportunities for growth and advancement (39%) and salary and remuneration (21%).

As the Singtel Singapore Grand Prix roars into town, Randstad illustrates how managers can take a leaf out of the Formula One book to manage a high performance team for their businesses.

Recognise, reward and challenge
Just like a team leader on the racing track, business leaders need to encourage their teams by providing genuine, regular recognition of excellence. At the same time, in order to ensure a sustainable level of efficiency, it is important to make certain that high performers, with their unique levels of intensity, don’t tire of the ‘everyday grind’.

Build in new goals once existing goals are close to being achieved, provide new challenge and competition, and introduce tangible rewards for milestones.

Set the goal and let them achieve it
High performers are often unique in that they have different and innovative methods of approaching tasks and goals than other employees. Rather than trying to manage this and reign it in, set a clear direction and goal for them, and then step away. Don’t micromanage — let them achieve.

Align business and individual goals
High performers need to strive towards inspiring goals that are achievable but may be just out of reach — this presents the challenge that they need to work harder, faster and smarter. This group is characterised by the need to constantly try to better previous successes, interestingly also the hallmark of some of the most competitive people in the world, Formula One drivers. Put the company or task goals in place, and then allow your high performers to set their sights on their own personal benchmark, often enabling them to far surpass expectations.

Ensure you are on the circuit
Just like reputations forged on a rain-drenched track, the credentials of a true leader shine through during periods of difficulty — a concept set in stone during the recent economic downturn.

High performers often feel the impact of periods such as downturn more acutely. Downturn for high achievers can transform quickly from a period of challenge, into an insurmountable obstacle — something that seemingly can’t be cleared regardless of determination — and this can result in plummeting levels of morale, and in turn, enthusiasm and dedication from high performers. Critical in these times, is a leader’s ability to identify this drop and continue to inspire and motivate their people, so they continue to achieve beyond average downturn levels.

During these periods, the traditional leadership attributes of inspiration, motivation, creating vision and providing recognition come to the fore. Effective harnessing of these characteristics can mean the difference between maintaining your high performers through difficult periods, and boosting them back up quickly in upswing, or losing them completely.

In pole position
The key for employers and leaders to remember when managing this vibrant and evolving group is to recognise the top individuals in your organisation, and tailor programs to inspire them. Understand what drives them, reward their efforts and allow their passion for success to flow throughout the organisation.