How to Keep Top Talent While Weeding Out Low Performers

Unless you’ve been living under a rock, you know we’re dealing with an intense labor shortage at the moment.

Unless you’ve been living under a rock, you know we’re dealing with an intense labor shortage at the moment. In August 2021, the Bureau of Labor Statistics reported 10.4 million open jobs in the U.S. — the most since the BLS began tracking openings in 2000. With so many available positions and the additional flexibility provided by a post-Covid work environment, employees — particularly those with the skills to bring your business to the next level — have more choices than ever before. To compete for new talent, and hold on to the great employees you already have, you must create a culture that supports their success.

My definition of top talent is a simple formula: Performance in the role + Cultural fit + Coachability (being open to feedback and willing to act on it).

Here are 4 ways to retain A-players while encouraging those who don’t meet the mark to head elsewhere: