Management Time Woes - Managing your Return on Time Investment

70/20/10

Jack Welch, Chairman and CEO of General Electric from 1981-2001 has discussed his simple management strategy which served him well as he built GE into the success it became. According to Welch, all your employees fit into one of three categories, 70/20/10. Most fall in the middle 70%, employees that are generally meeting your expectations, neither flying above nor below the radar. About 20% fall into your most coveted employee category…those who are highly productive, highly motivated, and are a great cultural fit for your organization. The bottom 10% is just that, they either need to elevate into the middle 70, or they need to leave. Here are some strategies to consider in working with your people after you have identified where they fit.

Talent Strategies
Top 20 – Deepen the relationship
Most of these people are vocal when the need something, but otherwise go about their business quietly. Because they don’t demand very much management attention, they can be vulnerable to recruitment. Make sure that you are creating purposeful strategy for retaining your BEST employees while at the same time taking action to move out the bottom 10%.

• Create challenges
• Create participation in leadership direction
• Reward performance
• Connect personally
• Create opportunity

Middle 70 – Accelerate performance
Many of these individuals need little to now management support to achieve mild success. Some of these people can blossom with the right support and mentorship and can become the next generation of Top 20’s in your organization. Pay attention to “influencers” in this group, and look for the leaders of tomorrow.

• Create individual expectations
• Formalize coaching/learning
• Implement skills enhancement/practice
• Specify growth progression
• Communicate progress regularly
• Praise successes

Bottom 10 – Upgrade
If you combine the mental energy you devote to these people, with the actual physical time and energy you have to commit to, these people take up an inordinate amount of your time, especially in relationship to their contributions. Simply, move up or move out...they can become “a cancer” in your organization.

• Execute written Performance Improvement Plans
• Require skills development
• Closely monitor progress within defined timeframes
• Terminate decisively

If you would like a talent scorecard that helps you identify and create action steps for your employees in these catagories please email us at info@rightnowconsulting.com

Also remember that the 70/20/10 rule can also directly to apply to our customers and prospects. Think about it... would love your comments and your stories.

Happy selling.