Hi !
Welcome to this week's issue of Executive Insight.
Managing High Performing Talent
Sarah is a highly talented, aggressive professional working in a boutique investment bank. Her new manager, Sean, is pulling his hair out because Sarah walks to the beat of her own drum, and quite frankly, isn't particularly interested in being managed by Sean.
He wants her to write reports; she wants to do deals. He wants her to track her time; she can't imagine wasting her time by tracking it. He wants her to introduce him to all of her clients; she sees no value in this.
Welcome to the world of the top performer. Managers like Sean are in a no-win situation when they apply old school managerial tactics to highly talented top performers.
I know some of you may be bristling, "who does she think she is?" by responding to her manager in such a way. If this thought crossed your mind, then there is a 99.9% chance that you're still using old school managerial tactics as well.
It's time to move on.
Don't manage top performers by putting a noose around their necks. Instead, respectfully support their efforts and see what you can do for them so that they crank out more revenue-generating, high margin work for your firm. Here are a few additional thoughts:
- Don't choke them with rules and procedures. They'll rebel in 9 cases out of 10, so save yourself the exasperation.
- Ask open-ended questions. You'll learn more about how they think and feel, and this will give you more insight into how to manage them.
- Give them space to be creative. They don't like feeling bureaucratic or ordinary.
I know a lot of managers who were effective using command and control techniques in past corporate jobs. Overall, it's a losing proposition today, and even more dramatically so when you have a team of high performers.
Email me your stories - I'd love to hear how you handle top performing talent.
Have a great week!
Leadership and the Bottom Line
Saving money by skimping on the small stuff can backfire. For example, acquiring a new, more modern coffee maker that makes "fancy" coffee drinks can go a long way with your staff.
Personal Power
You may be used to controlling everything, but you'll actually be more productive if you yield when others can do a job as well (or better) than you can.
Trend Watch
Some college aged Gen Yers have become pessimistic about higher education since so many of their peers are unemployed. This provides an opportunity for the revitalization of what used to be called trade schools, as skilled workers are in even higher demand.