1/26/14
What do do when a Star Performer gets another offer and wants to leave
**********************************************************
Team with the best players wins.
Caring and feeding of top performers is the top driver of company's success.
To keep stars happy, give them
(i) Outsize compensation
(ii) Effusive recognition
(iii) Enjoyable, challenging work
(iv) Feeling that they are not micro-managed
Yet, expect some stars to leave for several reasons:
(i) Outgrown opportunities at the company
Star wants to reach for horizons beyond what you can offer over long haul
(ii) More Money
(iii) More job responsibility
(iv) Bigger Title
Situation:
Star asks to see you, closes office door and says
"I've gotten an offer I think I just can't refuse"
Knee-jerk reaction is to match the offer with a fancy title and extra layer
Deadly side effect: others feel insulted & confused; star feels even more indispensable
ProActive & Rigorous Approach - Annual HR Backup Planning
*************************************************************
Prepare to fill the position of any key person who could depart.
Review stars frequently, coach consistently and plan backups.
Ask, "who replaces George or Carol if they leave ?"
Be ready to replace a departing star within 8 hours.
Send an important message: "No star is bigger than the organization"
Keep your house in order and send your star off with good wishes.
Create an environment where another star will soon be born.
*****************************************************************
Reference
Welch & Welch (2013)
http://www.linkedin.com/today/post/article/20131024153815-86541065-star-wars-when-to-let-a-top-performer-walk?trk=mp-reader-card
What do do when a Star Performer gets another offer and wants to leave
**********************************************************
Team with the best players wins.
Caring and feeding of top performers is the top driver of company's success.
To keep stars happy, give them
(i) Outsize compensation
(ii) Effusive recognition
(iii) Enjoyable, challenging work
(iv) Feeling that they are not micro-managed
Yet, expect some stars to leave for several reasons:
(i) Outgrown opportunities at the company
Star wants to reach for horizons beyond what you can offer over long haul
(ii) More Money
(iii) More job responsibility
(iv) Bigger Title
Situation:
Star asks to see you, closes office door and says
"I've gotten an offer I think I just can't refuse"
Knee-jerk reaction is to match the offer with a fancy title and extra layer
Deadly side effect: others feel insulted & confused; star feels even more indispensable
ProActive & Rigorous Approach - Annual HR Backup Planning
*************************************************************
Prepare to fill the position of any key person who could depart.
Review stars frequently, coach consistently and plan backups.
Ask, "who replaces George or Carol if they leave ?"
Be ready to replace a departing star within 8 hours.
Send an important message: "No star is bigger than the organization"
Keep your house in order and send your star off with good wishes.
Create an environment where another star will soon be born.
*****************************************************************
Reference
Welch & Welch (2013)
http://www.linkedin.com/today/post/article/20131024153815-86541065-star-wars-when-to-let-a-top-performer-walk?trk=mp-reader-card
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